Alibaba's Jack Ma on how to find success in Chinese market - Fortune Global Forum - video Dailymotion

Fortune

Alibaba founder Jack Ma shared his insights on how to succeed in the Chinese market during a 2017 conversation at the Fortune Global Forum. This year, the Fortune Global Forum will convene October 26–27 in Riyadh, Saudi Arabia, to explore the strategies that will define the next era of business growth.⁠

Transcript

00:00Number one rule, respect the culture, respect the market, respect the consumers.

00:05Number two rules, have a strong leadership.

00:08Send people with great entrepreneurs, not send people like professional managers.

00:15Those people make boss happy, not make the customer happy.

00:18They have to make customer happy, not boss happy.

00:20And the third, have patience.

00:23If you don't have patience, a lot of internet companies come to China, they want to have a quick win.

00:28I want to win within one year.

00:30I want to IPO next year.

00:32I want to be successful three years.

00:33Impossible.

00:34China is a huge market.

00:36Have patience, please.

00:38I was in Starbucks last night.

00:40They've been here for 18 years.

00:42For the first nine years, big mess.

00:45Last nine years, great.

00:47So China, we do have a lot of successful multinational companies.

00:52Walmart, Cisco, IBM, Microsoft, so many companies made fortune in China.

00:58But of course, up and down, just like any business.

01:02So have patience and respect market, respect the rules and laws.

01:08That's all I want to share.

Alibaba's Jack Ma on how to find success in Chinese market - Fortune Global Forum

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