Making an impact within China’s business market has never been an easy feat. The life of Richard Liu Qiangdong tells us a different story. What we found in him was outstanding courage and the right audacity. Ambition was behind him as he grew from a few stores into what’s now China’s largest online retailer. Richard Liu still required the right drive and a sure purpose; he found that motivation in the least likely of places.
His success in selling health goods, while he was living in Japan, laid the foundation. What he gained from his invested time, money and mental effort left a lot more to be desired. Here’s where his life’s calling would be identified. Richard would look to China again, and moving back home brought the idea of Jingdong to mind.
Setting Up Each Chapter of Jingdong
Electronics and software are what made Richard Liu Qiangdong into a successful entrepreneur. He was a success at selling original products: things that the Chinese-counterfeit market couldn’t remake. Finding and having the original makes of U.S. brands is what attracted his paying customers. These Chinese consumers were professionals, students and parents. They needed legit products that wouldn’t explode or break once they were being used.
The reliability, which Richard Liu’s software had, created a stream of loyal buyers for him. Similar shops, all within vicinity of Richard’s, couldn’t beat his consistency. Richard would then have to make an adjustment. The internet was a real opportunity as it emerged in the late ‘80s. However, the methods for making money as a retailer weren’t perfected, and this gave Richard a reason to put things on hold.
In 2002, China was struck by SARS, and Liu Qiangdong’s opinion had to change. The 12 locations of Jingdong were forced into an online structure. Consumers weren’t leaving the house, no one was applying for jobs and the employees Richard had were getting sick. They were terrified of showing up. “Digital” reduced the risks for Liu, and the birth of JD.com made history.
For More info: variety.com/exec/richard-liu/