It might be hard to imagine great achievements coming from complete despair. Learning from Richard Liu Qiangdong allows us to see wealth and success as a moving picture. Richard Liu began in the most unlikely places with a stream of failure. His work, revealed at the World Economic Forum, gives us insights into China’s competitive business mindset. What the CEO shares, with all its bright and dark moments, pieces together the wonder that became JD.com. Richard built his company with two hands; it started as a losing venture strengthened by the force of failure. The changes, with public plagues and online technology, defined by China’s growth were key. They gave Richard the drive for a better place in the world.
Central Ideas From the Man Himself
The 2018 World Economic Forum’s annual meeting is the setting. Here, in Davos-Kloster, Switzerland, we sit in for a rare interview with Liu Qiangdong. This is where we unravel the life of a tech mogul. The meeting occurred to retell of the story of JD.com. Today’s JD.com, also recognized as Jingdong in China, began in 2004. It grew from a prior business that went well for Richard Liu. The business then had to endure a devastating blow from a SARS epidemic. The reality of the plague, as seen from Chinese history, hit the physical stores Richard held. Many of his employees were no longer at work, some were getting sick and the risks of continuing were high. Such led Richard to the potentials of an online store. We look back today to see how bright the idea was.
The Success: Where it Got Started
Failed health products is where he started. A restaurant that got completely “destroyed” defined Richard’s initial business career. He earned a degree from Chinese Renmin University, but it didn’t take him far at first. Jingdong came from the lost of many ventures that taught Mr. Liu Qiangdong. He knew to set goals to avoid counterfeiting. He was on the internet. Richard sought to provide accuracy with invoices and real products online. A legacy then unfolded as JD.com now generates $60 billion yearly with 167,000 employees supporting it.