Jack Ma
Alibaba Group · E-commerce & technology · China
Biography
An English teacher in Hangzhou, he was rejected from many jobs and failed university entrance exams before succeeding. Founded Alibaba to help small Chinese businesses sell online.
Starting point: Founded Alibaba in 1999 in his apartment with 17 co-founders and pooled savings.
The lesson
Paraphrased summarySummary: build for small businesses that big companies ignore, and persist through repeated rejection.
How it helps you
Underserved small customers are often the biggest opportunity in a local market.
Practical steps
- Identify a group of small sellers nearby.
- Ask what stops them from reaching more buyers.
- Offer a simple, cheap solution.
- Grow by word of mouth among them.
Apply This Lesson
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