How Richard Liu Overcame Great Odds To Build JD.com

 

Ideas are the genesis of the most exemplary and exceptional accomplishments by human beings. The idea of providing first class customer service, fueled by the desire to provide for family, is what pushed Richard Liu Qiangdong to establish JD.com. Speaking at the World Economic Forum held in Dallas on January 2018, Richard Liu recounted how eventful his journey of building Jingdong was.

Today, JD.com is China’s most profitable internet company and one of the largest online retailers in the country. JD.com is, especially, known for vigorously pursuing innovation, and incorporating eco-friendly practices in their business model. As the C.E.O and founder of Jingdong, Richard Liu finds himself in a catbird seat, where much is expected of him.

As Richard Liu says, his strong academic background has, especially, provided a rich source of knowledge, and his experience as an entrepreneur has enabled him to make momentous decisions while at the helm of the e-commerce giant. Find Related Information Here.

Richard Liu Qiangdong detailed his experiences to an enchanted audience, reminiscing how he handled failure as a young entrepreneur and also how he had to teach himself programming after completing college. Richard Liu first studied sociology at the Renmin University of China because he was deeply interested in politics. After completing his degree in 1996, he realized that he would never get the big bucks in that field and, resultantly, decided to teach himself programming. Consequently, Richard Liu took up several freelance coding jobs, which paid him enough, and enabled him to pursue an EMBA at the China Europe International Business School.

His EMBA opened new doors for him at a reputable health Product Company called Japan Life. Richard Liu worked at the company for 24 months, where he held several positions including head of computers and head of the business. Pushed by his entrepreneur spirit and the responsibility to afford medicine for his ailing grandmother, Richard Liu moved on to establish a magneto-optical store in Beijing, which he named Jingdong.

This was in 1998, and by 2013, his venture had grown to 12 stores all over the city. However, his promising business suffered a huge blow after there was a breakout of the SARS virus, which made physical interaction impossible and, Richard Liu was forced to close down his stores. In a bid to survive and keep his business, Richard Liu took his business online. This is what grew to a $57 billion E-commerce business Jingdong.

 

See also: https://www.gizmochina.com/2018/06/22/googles-550-million-investment-in-jingdong-could-see-its-hardware-products-selling-on-jd-com/