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Richard Liu Qiangdong On The Birth Of JD.com

 

Weforum.org recently conducted an interview with Richard Liu Qiangdong through David M Rubenstein. Mr. Rubenstein wanted to understand some of the work that Richard Liu has done with the company and his motivators for success. One of the major things that Liu Qiangdong talks about is the early lesson that he learned in his career. While he was still enrolled in college he decided that he wanted to open a restaurant. To do this he secured a family loan and added in his own money. The problem came when he related that he did not have enough time to make sure that the business function properly. Instead, the business floundered. He learned a great lesson from this. He would need to pour everything that he had into a future business in order to make it work. Go To This Page to learn more.

 

A few years later he got that opportunity when he opened Jingdong Mall. This would be a small tech business that sold mostly computer parts. It expanded a little bit to include other technology devices but they had developed a loyal customer base. Eventually, that base necessitated the development of more locations. Richard Liu discovered that when he put in the hard work his businesses would grow. In 2003 something happened that would be beyond his control. SARS started sweeping the Chinese nation. It was a frightening time and people stopped leaving their houses to go on retail trips. This was when Richard Liu Qiangdong decided to move Jingdong Mall onto cyberspace.

 

While some people would believe that this signified that the company was not doing well, Richard Liu knew that it was an opportunity to build his brand in another way. He set Jingdong Mall up as JD.com. In 2004 they sold their first products to their first customers. Customers were immediately astounded at the quality of their products. Unfortunately, the Chinese landscape for e-commerce had taught them that forgeries and shoddy craftsmanship were on the rise. Today, Richard Liu Quiangdong has developed JD.com into an extensive business empire. He even hinted to Mr. Rubenstein that the company is looking into global distribution in the future.

 

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