It’s crucial that every entrepreneur experience failure at some point in his or her career. Without failure, arrogance and ego can lead to bad decisions and closed-mindedness. Richard Liu Qiangdong experienced failure reasonably quickly in his entrepreneurial career, and it taught him to focus his efforts.
Richard Liu Qiangdong owns and operates the most extensive online business in China, JD.com. JD.com is the expanded online version of a brick-and-mortar store Richard owned called Jingdong. The name “Jingdong” came from Richard Liu combining his name and his then-girlfriend’s name. Later, after the stores closed, he changed it to JD.
Earlier this year, Richard Liu Qiangdong went to the United States and sat down for an interview with Davos-Klosters in Dallas, Texas. In his words, he wanted to do the interview, so he could hear from people from all over the world. Global reach is his next goal, and hearing from all kinds of people will help him achieve the desired result. Find Additional Information Here.
In the interview, he also talked about where he came from and how poor his family was growing up. His parents worked hard shipping coal from north to south China and didn’t earn much money doing that. He went to the city to join politics but quickly learned that he couldn’t earn much with a degree in sociology.
After graduating from Renmin University, Qiangdong began learning about computer programming. While working as a freelance coder, he earned enough to put himself through business school. With an EMBA, he began pursuing his entrepreneurial dreams.
He tried while in school to open a restaurant, but it went belly up after he all but abandoned the company. Altogether, he could only dedicate two hours a week to the restaurant, inevitably leading to its failure. Still, he didn’t give up, and in 1998, he launched Jingdong.
Jingdong found adequate success, and Richard Liu Qiangdong had 12 stores by 2003. That same year, the SARS outbreak made contact with customers dangerous, so he closed all his stores and launched JD.com online.
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