Being the founder and CEO of JD.com, Richard Liu Qiangdong currently has a net worth of $11 billion according to Forbes. When he ventured into business, Richard Liu’s restaurant business failed, and he decided to venture into selling health products and computer parts in the year 1998. In the year 2004, he moved away from physical retailing and set up his online stores. Richard Liu Quiangdong’s business snowballed, and ten years later, JD.com appeared on NASDAQ listings, even though it ran on losses that year.
In an interview by Richard Liu, he admits that his journey as a businessman was never easy. He states that at one moment he was infected with the SARS. The onset of the infection was the point he decided to close his physical shops and set up online ones. The main reason behind this was to avoid affecting his clients with the disease since conversing with healthy people face-to-face put them at higher risks of contracting the disease.
However, one of the main challenges the company faced was competition e-Commerce company rivals such as Amazon.com. The primary thing that made the company stand out from the rest is the fact that they decided not to sell any counterfeit products. Through this, the company grew to become of the largest e-commerce companies in the world right now. Looking at this fact, Richard Liu’s idea made his company successful was the creation of value for its clients.
Currently, JD.com ships its products worldwide. The firm has 500 logistics centers around the world and would, for instance, take fifteen days for products to reach New York. As such, the firm strives at giving its clients value for their money; with the company having a goal of becoming the biggest online retailer in the world in a few years to come. Visit This Page to learn more.
Conclusively, Richard Liu advises upcoming entrepreneurs to uphold integrity and willingness to take in the advice given to them by more experienced business people and the elderly. He cites these two things as the drivers that pushed him into what he is today. He, for instance, looks back at when he became a businessman, and his avoidance of counterfeit products earned him more clients than some of his competitors.
Learn More: https://www.jonesday.com/rliu/