Despite having grand ambitions of joining the helm of the political class in China, Richard Liu Qiangdong’s dreams were shuttered by the high unemployment rate in his home country. This was after he had completed his college education at the People’s University of Beijing and found that there were no employment opportunities that were readily available to absorb him.
An interview called “An Insight, An Idea” sits down with Richard Liu to discuss his career and how he has transformed the retail industry. His company JD.com is now one of the largest retailers in all of China and it has been very successful.
Like any other young school leaver, Richard Liu Qiangdong had no idea that he would become the prominent businessperson that he is today. After completion and staying for a while without any invitation for employment, he decided that he would start a business, which would sustain his needs and those of his fiancé, whom he had found a few years earlier. He began a restaurant business using some money that he had saved while in campus, together with a loan that he took from his family’s business. See This Article for more information.
Unfortunately, the hotel business never turned out as he had expected. It kicked off with a considerable loss, which persuaded the closure of the firm. He was left with a lot of debt that he had accumulated from the time he established the restaurant to the point at which the business collapsed. Things turned out very rough on him, but he never despaired. Liu believed that he had a lot more to achieve in life and hence he decided to try another venture.
During his college life, Richard Liu Qiangdong had obtained some computer programming skills, which he had enhanced by solving programming challenges for his fellow students at a small charge. These were the skills that he decided that he would try to invest and see whether things would be better for him. He opened a store that he would use to supply technology software and hardware for the tech clients in Beijing. This shop thrived very well to the extent that he decided to open some branches in the city and also in other parts of the country.
The business remained physical until in 2003 after the outbreak of SARS. This outbreak adversely affected the production of the firm, and hence Richard Liu Qiangdong decided to transform the store into an online store. He also renamed it from JingDong to become JD.Com.
Related information about Liu on http://www.dcvelocity.com/articles/20181018-jd-com-unveils-plans-to-study-underground-urban-fulfillment-network/