Richard Liu Humble Beginning Sets Him For Greater Success
From a young age, Richard Liu had always dreamt of leaving the village and getting to the city. When it was time for him to choose a college to attend, he only applied to those based in large cities like Shanghai and Beijing. He finally got admission to Renmin University, and thanks to the support of his family and villagers, he managed to get enough cash for a train ticket.
While at the university, he pursued an undergraduate degree in sociology and took on programming classes during his free time. He was even fortunate enough to land a job that involved handwriting copies of documents and letters. Eventually, he saved enough to build a house for his parents and but a cell phone and computer.
After completing his university studies, he took up a job at Japan Life, a leading herbal supplement company in China. At the company, Richard rose through the ranks to head the computer and service division. His time at Japan Life helped him gain management experience, which became valuable when he started his entrepreneurial venture, Jingdong.
Liu Qiangdong began with a small storefront where he sold magneto-optical products. He faced competition from other business owners who sold the same products he did at subsidized rates. While this is the case, most of them had counterfeit goods. So, Richard Liu opted to sell his products at a higher price, but the products were authentic.
He remained honest and reliable in his business dealing, and his JD.com had gained great success in the first few years of operation. Five years following its launch, it had already expanded to over 12 stores in cities like Shenyang, Shanghai and Beijing.
During the SARS pandemic in 2003, Richard Liu had to close all his businesses, which was a major setback. As a means to keep the business running, Richard began to sell his products online. After realizing great feedback and taking into account the online marketing popularity at the time, he launched his business e-commerce store in 2004. Refer to this article to learn more about Liu Qiangdong.
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