“Today is tough, tomorrow will be tougher, the day after tomorrow is beautiful. Most people die tomorrow.” – Jack Ma
On September 19, internet company Alibaba went public. The $150-billion IPO was the largest offering for a US-listed company in the history of the New York Stock Exchange. Jack Ma, the creator and executive chairman, simultaneously became the wealthiest man in China. With this success in mind, it’s amazing to look back 15 years to Alibaba’s humble start.
How Jack Ma Began
Born in 1964, Jack Ma (born Ma Yun) and his family lived a life of poverty in communist China. Before finding success, Ma failed two college entrance exams and was rejected from dozens of jobs including a position at KFC.
After being admitted to college on the third try, Ma graduated in 1988 from Hangzhou Teacher’s Institute. He landed a teaching job making a mere $12 an hour. But, he was fascinated by the budding internet during his first trip to the United States. During this trip he decided that he was going to found an internet company for China.
Ma’s entrepreneurial attitude resonated early on. He once said, “If you want to grow, find a good opportunity. Today, if you want to be a great company, think about what social problem you could solve.” Little did he know that his fascination would make him a global icon today.
Founding the Company
Fast forward to 1999. Ma packed 17 of his closest friends into an apartment to convince them to invest in an online company named Alibaba. With a simple business model, the first version allowed exporters to post product listings for customers to buy directly. Ma led a small team based out of his modest apartment in Hangzhou.
Thinking back on his humble beginnings, Ma recalls, “I felt lonely when I started working in the Internet business in China around 1995. Nobody believed in me. But every time I came to the [Silicon] Valley I saw that the parking lots were always full, even on the weekends. There was rush hour traffic even late at night. Everyone was hopeful for the future and their minds were full of ideas.”
Even when no one seemed to understand his idea from the beginning, Ma persevered and gained investors who believed in him. By the early 2000s the company became profitable. By 2005, Yahoo invested $1 billion for a 40% share in the company.
The Company Today
This IPO may have made Jack Ma one of the wealthiest individuals in China and the world, but his humble beginnings still shape his attitude. His friends report that he still enjoys the same things in life such as Tai Chi, and hasn’t made any lavish purchases since the IPO. He has stayed rooted and focused on pursuing a common good through his work.
A few days prior to the IPO, he said, “Don’t even trust that you are able to unify what everyone is thinking; it is impossible. Thirty percent of all people will never believe you. Do not allow your colleagues and employees to work for you. Instead, let them work for a common goal.”
Ma is the embodiment of a rags-to-riches story. He proves that with hard work and dedication, you can achieve greatness. His strong will to succeed and his ability to surround himself with people who believe in a common goal allowed him to rise to the top.
Take a look at this video of him from the early days. What a great attitude!
—
PHOTO: World Economic Forum / CC 2.0