Jack Ma is one of China’s prominent business magnates, a philanthropist and an investor. He is the founder and former executive chairman of one of the most prominent multinational tech businesses in the world, Alibaba Group. He is also the co-founder of a private equity firm called the Yunfeng Capital as well. Jack Ma has led to the foundations of a new era in business and is considered as China’s informal ambassador for businesses on a global scale. He is one of the most influential people in the world and was the second among the “World’s 50 Greatest Leaders” according to Fortune.
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Apart from the internet and other utilities, there are many other things that you can take care of when you want to create a future for yourself and your organization. Some of these are as follows
Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.
When you start something and expect results from it, there are so many things that you are supposed to take care of. One of them is your mindset. Every day is not your day. You are supposed to stay the course and make sure that you have your eyes on the prize. You might face problems for a day or two but if you will keep your head straight, you will achieve everything and anything that you keep your thought on.
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You should learn from your competitor but never copy. Copy and you die.
One of the biggest mistakes startups make and do not achieve their goals is that they try to copy their competitors and try to reinvent the wheel. Your competitor is not always right and he might not be always wrong but the people for whom you are working for do not want the same all technology or products. They crave for something unique and innovative so make sure that you take inspiration from your competitors but do not copy them at all. This will lead to your fall and a waste of your resources.
Forget about your competitors, just focus on your customers.
This is one of the best approaches you can use to make your startup or brand successful. You can create something that complements your brand or something that conforms with your target audience. There is no point in creating something based on products by your competitors so keep your focus on the needs and demands of your customers and make sure that you create something that fulfills their needs. This approach will automatically help you create a product that is so good that it will get you a good market share and might even kill the competition.
A leader should be visionary and have more foresight than an employee.
Jack Ma believes that a business leader should have more insights about the business or whatever he does more than the people who work for him or her. Also, he has the capacity to create and reject things on the basis of his or her experience, the ongoing trends and suggestions from different employees and other sources. In short, he or she always works keeping in mind the vision of the company, his experience and the ongoing trends. Also, a leader always has the capacity to learn more things throughout his tenure.
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Try to find the right people, not the best people.
The world we live in is full of talented people but hiring the best people to get things for your organization should not be your ultimate goal. The idea is to hire the right people and make sure that you get the job done. Someone who is best at flying a plane cannot be hired to do a desk job or somebody who can handle different tasks of an executive will not be the best fit for a pilot’s job.
You can give them the training to do these tasks if it is required but it is wise to hire the right person to get the job they are qualified to perform. You can train them and polish their skills and prepare them for higher responsibilities but hiring any highly qualified person for a job role they don’t fit in will be a waste of talent, time, money and effort.
A leader should incentivize, but not with money. You give trust, respect, appreciation, and correct, heartfelt advice.
Giving rewards for outstanding performances is one of the best things a business leader can give to the people who work for them. And this reward should not necessarily be monetary. Moreover, it is a good idea to appreciate people who work for you and encourage them to do their best is one of the best incentives you can give to your employees. When an employee receives a respecting and appreciating word from their leaders, it makes them more motivated, recognized and satisfied at work. Also, a gesture of kindness and appreciation has a more lasting effect on employees than a monetary reward.
So it is a good trait of a leader if they respect, recognize and appreciate the efforts of their teams or a team member from time to time. If your team or a team member does an outstanding job, shoot them an email with kind words or give them a Certificate of Appreciation and recognize their efforts in front of others. This will motivate everybody to work hard and feel more motivated.
In the end, one can say that Jack Ma is an example of a great business leader for entrepreneurs who are looking forward to enter the business arena. His struggle and life can redefine your vision of a healthy and positive workplace that you can create and a brand that will shine with success. Also, Jack Ma’s life story can be a great example for people who want to rise up from a past failure and want some motivation to push their limits and get success in life.