As an investor, it is good to follow your passion. There are many risks involved; nevertheless, succeeding is all that matters. To succeed, you may need a business plan since it will also guide you as a startup entrepreneur. Additionally, the experience that you gain will also be significant. It is also good to seek some assistance in the form of advice from business moguls such as Richard Liu Qiangdong.
About Richard Liu Qiangdong
Richard Liu is an entrepreneur who has garnered a lot of experience in the e-commerce industry. He has been in the business for more than a decade. His overall journey as an investor has lasted for more than two decades. Liu Qiangdong was also honored to address the people who had attended the 2018 World Economic Forum Annual Meeting. As the meeting went on, Liu Qiangdong talked about his life as an entrepreneur and how he managed to launch Jingdong.
com has played an instrumental role in shaping the e-commerce sector in China. The Forbes Magazine has also recognized Richard Liu as a billionaire. He is worth $11 billion. As an entrepreneur, Richard Liu realized that the sale of computers would be a viable business. He went ahead to set up a retail center in Beijing, and by 2003, the business had grown profoundly. With 12 physical stores, Richard Liu was making a good amount of money. Since challenges are a part of business, he had to close down all the stores in 2004. People had been subjected to quarantine because there was a SARS outbreak. Without human resources, the business could not progress.
In 1998, he had also thought about launching an online retail store, but he eventually opted to launch physical stores. Since the other business had crumbled down because of the outbreak, Liu Qiangdong went ahead to start Jingdong. The name of the company was inspired by the last letter of his name and that of his wife. When intertwined, both names generate the name Jingdong. The logistics were cheaper to run in the e-commerce sector. Furthermore, Jingdong gained popularity for the sale of original products. The company would always evaluate each item to ensure that they are not selling counterfeit products.
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