Richard Liu Qiangdong: From Rags To Riches

 

Richard Liu Qiangdong, the successful CEO of JD.com, grew up in an impoverished region of China. His parents owned a small shipping company that only transported coal from northern to southern China. After primary school, he moved to the big city to pursue a career in politics; he wanted to do more than work a blue collar job.

After earning a degree in sociology from Renmin University, Liu Qiangdong received news that his grandmother was sick. Needing extra money to help pay for her treatment, he decided against pursuing politics and learned computer programming. As a freelance coder, he earned enough to support his grandmother and continue his education. See This Article to learn more.

He learned that politics never offered a high-paying job, but business and entrepreneurship did. Though entrepreneurship is riskier; it’s more fulfilling and lucrative if he could succeed. While working toward an EMBA at the China Europe International Business School, he used some of his side money to invest in a restaurant.

Liu Qiangdong quickly learned how much he’d underestimated owning his own restaurant would be. He tried to maintain his grades and continue working freelance jobs while running the business at the same time. In the end, he only devoted two hours to the restaurant every week, which led to his first entrepreneurial failure.

After that, he put his dreams aside for a while and focused on his education. Following his graduation from business school, he took a job at Japan Life, a health products company. He played different roles at Japan Life, but couldn’t shake the desire to open and own his own business.

In 1998, Liu started selling magneto-optical products out of a little four-square-meter building in Beijing. Using the last characters from his and his then-girlfriend’s name, he named his store “Jingdong.” Within the first five years, he opened 11 other stores.

When things were at their best, the SARS outbreak brought everything crashing down. SARS turned China into a home-bound civilization, which made online stores very popular. In 2004, Jingdong was renamed JD.com.

Because of Qiangdong’s success in selling other goods online, Richard Liu Quiangdong has now been ranked by Business of Fashion as a top 500 “Most Influential Person In The Fashion Space”. Fashion is, of course, a $2.4 trillion market on its own.

 

View source: http://www.liuqiangdongjd.com/

 

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