Alibaba Business Quotes

Today is tough. Tomorrow is tougher. The day after tomorrow is beautiful. But most people die tomorrow night and don’t get the chance to see the sun rise the day after tomorrow.

Learn from competitors but never copy them. Copy them and you will die.

Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.

Alibaba is no longer a David. It is a Goliath. And as a Goliath it will face an entirely new set of challenges.

The same thing, notes Brynjolfsson, happened 120 years ago, in the Second Industrial Revolution, when electrification—the supernova of its day—was introduced. Old factories did not just have to be electrified to achieve the productivity boosts; they had to be redesigned, along with all business processes. It took thirty years for one generation of managers and workers to retire and for a new generation to emerge to get the full productivity benefits of that new power source. A December 2015 study by the McKinsey Global Institute on American industry found a “considerable gap between the most digitized sectors and the rest of the economy over time and [found] that despite a massive rush of adoption, most sectors have barely closed that gap over the past decade … Because the less digitized sectors are some of the largest in terms of GDP contribution and employment, we [found] that the US economy as a whole is only reaching 18 percent of its digital potential … The United States will need to adapt its institutions and training pathways to help workers acquire relevant skills and navigate this period of transition and churn.” The supernova is a new power source, and it will take some time for society to reconfigure itself to absorb its full potential. As that happens, I believe that Brynjolfsson will be proved right and we will start to see the benefits—a broad range of new discoveries around health, learning, urban planning, transportation, innovation, and commerce—that will drive growth. That debate is for economists, though, and beyond the scope of this book, but I will be eager to see how it plays out. What is absolutely clear right now is that while the supernova may not have made our economies measurably more productive yet, it is clearly making all forms of technology, and therefore individuals, companies, ideas, machines, and groups, more powerful—more able to shape the world around them in unprecedented ways with less effort than ever before. If you want to be a maker, a starter-upper, an inventor, or an innovator, this is your time. By leveraging the supernova you can do so much more now with so little. As Tom Goodwin, senior vice president of strategy and innovation at Havas Media, observed in a March 3, 2015, essay on TechCrunch.com: “Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.

His order cited "credible evidence" that a takeover "threatens to impair the national security of the US".Qualcomm was already trying to fend off Broadcom's bid.The deal would have created the world's third-largest chipmaker behind Intel and Samsung.It would also have been the biggest takeover the technology koo50 sector had ever seen.The presidential order said: "The proposed takeover of Qualcomm by the Purchaser (Broadcom) is prohibited. and any substantially equivalent merger. acquisition. or takeover. whether effected directly or indirectly. is also prohibited."Crown jewelSome analysts said President Trump's decision was more about competitiveness and winning the race for 5G technology. than security concerns.The sector is in a race to develop chips for the latest 5G wireless technology. and Qualcomm was considered by Broadcom a significant asset in its bid to gain market share.Image captionQualcomm has already showcased 1Gbps mobile internet speeds using a 5G chip"Given the current political climate in the US and other regions around the world. everyone is taking a more conservative view on mergers and acquisitions and protecting their own domains." IDC's Mario Morales. vice president of enabling technologies and semiconductors told the BBC."We are all at the start of a race. and you have 5G as a crown jewel that everyone wants to participate in - and every region is racing towards that." he said."We don't want to hinder someone like Qualcomm so that they can't provide the technology to the vendors that are competing within that space."US investigates Broadcom's Qualcomm bidQualcomm rejects Broadcom takeover bidHuawei's US smartphone deal collapsesSingapore-based Broadcom had been pursuing San Diego-based Qualcomm for about four months.Last week however. Broadcom's hostile takeover bid was put under investigation by the Committee on Foreign Investment in the US. a multi-agency led by the US Treasury Department.The US company had rejected approaches from its rival on the grounds that the offer undervalued the business. and also that any takeover would face antitrust hurdles.Earlier this year. Chinese telecoms giant Huawei said it had not been able to strike a deal to sell its new smartphone via a US carrier. widely believed to be AT&T.The US also recently blocked the $1.2bn sale of money transfer firm Moneygram to China's Ant Financial. the digital payments arm of Alibaba.

more companies to run themselves in a similar way to Chinese companies—operating more in the present, viewing themselves as in a condition of constant flux, and always searching for new business areas they can stretch themselves into.

Tencent’s Pony Ma has surrounded himself with foreign and Chinese executives with deep global experience. Both Mas have used these hires to gain access to international funding and expertise. Lei

In summary, for many companies, China has the potential to become the world’s leading breeding ground for growth and innovation. Being

Xiaomi’s engagement with its users is exemplary in this respect not just because it listens to what they say, but because of the way it acts immediately on the feedback it receives.

When it comes to innovation, foreign companies can study how local enterprises constantly update and augment their products and capabilities, making them capable of penetrating and taking over entire high-technology sectors from the bottom up, as Huawei has done.

In 2013, Hertz Global Rental took a 20 percent stake in China’s biggest car-rental firm, privately owned China Auto Rental. Overnight, the U.S. company’s presence in China expanded from 5 outlets to 700. China Auto Rental got access to Hertz’s customer referrals, one of the main sources of business for car rentals. This sector will only grow in importance as China’s car-rental market grows from $4 billion to $20 billion—equaling America’s.

Jack’s intention is to create a platform to serve 10 million small business sellers.

Jack Ma, a former English teacher who would found Internet sensation Alibaba, was on the hunt for angel investors. Jack and I met at the Ritz-Carlton’s coffee shop in Hong Kong and he laughed at my request for a business plan. “Goldman Sachs is offering me five million dollars on the basis of an idea,” he declared. “Why do I need to give you a business plan when we’re just talking three million dollars.

a wrong decision is better than no decision in Internet time.

When eBay entered the Chinese market in 2002, they did so by buying the leading Chinese online auction site—not Alibaba but an eBay impersonator called EachNet. The marriage created the ultimate power couple: the top global e-commerce site and China’s number one knockoff. eBay proceeded to strip away the Chinese company’s user interface, rebuilding the site in eBay’s global product image. Company leadership brought in international managers for the new China operations, who directed all traffic through eBay’s servers back in the United States. But the new user interface didn’t match Chinese web-surfing habits, the new leadership didn’t understand Chinese domestic markets, and the trans-Pacific routing of traffic slowed page-loading times. At one point an earthquake under the Pacific Ocean severed key cables and knocked the site offline for a few days. Meanwhile, Alibaba founder Jack Ma was busy copying eBay’s core functions and adapting the business model to Chinese realities. He began by creating an auction-style platform, Taobao, to directly compete with eBay’s core business. From there, Ma’s team continually tweaked Taobao’s functions and tacked on features to meet unique Chinese needs. His strongest localization plays were in payment and revenue models. To overcome a deficit of user trust in online purchases, Ma created Alipay, a payment tool that would hold money from purchases in escrow until the buyer confirmed the receipt of goods. Taobao also added instant messaging functions to allow buyers and sellers to communicate on the platform in real time. These business innovations helped Taobao claw away market share from eBay, whose global product mentality and deep centralization of decision-making power in Silicon Valley made it slow to react and add features. But Ma’s greatest weapon was his deployment of a “freemium” revenue model, the practice of keeping basic functions free while charging for premium services. At the time, eBay charged sellers a fee just to list their products, another fee when the products were sold, and a final fee if eBay-owned PayPal was used for payment. Conventional wisdom held that auction sites or e-commerce marketplace sites needed to do this in order to guarantee steady revenue streams.

Rather than setting goals or targets, companies are instead concentrating on ways of strengthening their capabilities to improvise and innovate in the face of immediate challenges and opportunities.

They firmly believe that success will come from pushing onward, takings risks, and reacting quickly to opportunities; from constantly searching for small advantages that will allow them to steal a brief march on their immediate competitors, and larger ones that will enable them to enter a new business area; from building a scale that will make it hard for others to rival their cost base; and from finding new markets, be they emerging new centers of consumption within China or overseas.

Today, Ma’s payment system, now known as Alipay, is responsible for processing half of all online transactions in China.

It processes more than half a trillion dollars annually—five times more than the country’s second-biggest system, Tencent’s Tenpay, and over 20 times more than China UnionPay, the state-owned body with a monopoly over China’s bank card authorization network.

WE WANT TO BE NUMBER ONE

We don’t want to be number one in China. We want to be number one in the world,

Ma declared, “If banks don’t change, we will change banks.

The following year, building on Alipay’s success, he set up a finance arm to make small loans to Alibaba.com users. A borrower’s creditworthiness was gauged using two key metrics: the total value of business it conducted through Alibaba.com and the ratings it received from its customers.

If you plan, you lose. If you don’t plan, you win

Alibaba’s strategy is not opportunism pure and simple. Rather, it is a form of opportunism that draws on a vision

One question is in the mind of every fledgling entrepreneur in the high-tech startups of Beijing’s Zhongguancun neighborhood, the fabrication hubs of Wenzhou, the industrial region of Dalian, and dozens of other Chinese business centers: “Why not me?” Success is all around them…. Young Chinese businesspeople are driven by materialistic desires, eager to “catch up” with the rest of the world, and almost giddy with a sense of multiplying opportunity. They have read Internet chronicles of the triumphs of Yahoo, Silicon Graphics, and Google. They see themselves as the creators of the world’s future Intels, Apples, and Microsofts, and some of them probably will be.

Figures such as Jack Ma, Pony Ma, and Robin Li never questioned China’s system as such, but they moved beyond it rapidly, displaying a sense of self-assurance, as if they felt entitled to succeed, that would have been impossible to imagine in the previous two generations.

Many of the start-ups now being established by fourth-wave entrepreneurs are Internet-based, using the tools made available by companies such as Alibaba and Tencent to build e-commerce businesses.

At the heart of China’s entrepreneurial spirit lie three core elements: pride, ambition, and a shared cultural heritage.

Zhang is also deeply involved in an ongoing campaign to restructure Haier and make it into a company where every element is entrepreneurial and every employee regards him or herself as an entrepreneur.

Zhang says his goal is to turn Haier into an “ecosphere”: an organization in which many people have decision-making power, and those at higher levels are only responsible for setting the overall master direction.

Business ambition is only part of what motivates China’s entrepreneurs.

Alibaba was founded with a simple mission to help small business owners make money. But our next challenge is to join forces with the people of China and beyond to build an ecosystem that can help even more people make a decent living and push for change that benefits everyone.

If you don’t create channels for people to rise and don’t tackle issues of fairness or a lack of legal knowledge, then you can create a society with a large underclass that’s poor and a society that’s unstable,” he says.

Lenovo did not make itself the world’s biggest personal-computer maker by copying American competitors. Instead, it applied beyond China’s borders the practices it developed for China, while, at the same time, consciously redesigning itself to be an international business.

From the start, there was also another side to Huawei’s business: regardless of a customer’s size, the company would always be willing to come in and look for ways of improving the operations of its clients.

The failure of these B2B marketplaces is a sharp contrast to the one major success story in B2B ecommerce from the dot-com era: Alibaba. Alibaba took a very different approach from these other marketplaces. Rather than going after large, consolidated industries, it went after small businesses. This strategy was the brainchild of Alibaba’s founder and CEO, Jack Ma. Ma’s vision was that “the revolutionary significance of the Internet is that it will enable small enterprises to operate independently.

A platform is a raised, level surface on which people or things can stand. A platform business works in just that way: it allows users—producers and consumers of goods, services, and content— to create, communicate, and consume value through the platform. Amazon, Apple’s App Store, eBay, Airbnb, Facebook, LinkedIn, Pay- Pal, YouTube, Uber, Wikipedia, Instagram, etsy, Twitter, Snapchat, Hotel Tonight, Salesforce, Kickstarter, and Alibaba are all platform businesses. While these businesses have done many impressive things, the most relevant to us is that they have created an oppor- tunity for anyone, even those with limited means, to share their thoughts, ideas, creativity, and creations with millions of people at a low cost. Today, if you create a product or have an idea, you can sell that product or share that idea with a substantial audience quickly and cost-effectively through these platforms. Not only that, but the platforms arguably give more power to individuals than corporations since they’re so efficient at identifying ulterior motives or lack of authenticity. The communities on these platforms, many of whom are millennials, know when they’re being sold to rather than shared with, and quickly eliminate those users from their con- sciousness (a/k/a their social media feeds). Now, smaller organizations and less prosperous individuals are able to sell to or share their products, services, or content with more targeted demographics of people. That’s exactly what the modern consumer desires: a more personalized, connected experience. For example, a Brooklyn handbag designer can sell her handbags to a select group of customers through one of the multitude of fashion or shopping platforms and create an ongoing dialogue with her audience through a communication platform such as Instagram. Or an independent filmmaker from Los Angeles can create a short film using a GoPro and the editing software on their Mac and then instantly share it with countless people through one of a dozen video platforms and get direct feedback. Or an author can write a book and sell it directly from his or her website and social channels to anyone who’s excited about it. The reaction to standardization and globalization has been enabled by these platforms. Customers can get what they want, from whomever they want, whenever they want it. It’s a revised and personalized version of globalization that allows us to maintain and enhance the cultural connections that create the meaning we crave in our lives.

China’s future, economically, socially, and—eventually—politically, rests in the hands of its entrepreneurs.

these are hugely entrepreneurial businesses, run in risk-taking manner, embracing innovation and change, and that running them is a group of extraordinary individuals.

For a business to thrive in the longer term, he believed, it would need a reputation for reliability and quality.

Many of today’s most successful Chinese entrepreneurs, most of them now in their 40s, 50s, and 60s, had no experience in business when they started their companies.

They built their companies by meeting the needs of their customers, often in businesses that no one else saw as feasible.

For entrepreneurial companies, innovation is do or die,

turned subway stations into virtual stores where people shop with their smartphones by snapping bar codes that appear alongside pictures of products.

Selling everyday items, priced marginally lower than those offered in brick-and-mortar stores, and delivering them through the congested streets of China’s cities directly to customers’ homes or offices on fleets of motorcycles and mopeds has proved a hit.

Xiaomi’s use of crowdsourcing to get input on ways of improving its phones and to create a buzz for each new release.

with China’s working population falling by between 2 and 4 million people annually—barely noticeable in a total working-age population of 900 million.

four factors can be combined into a simple formula: scale + openness + official support + technology = hyperfast growth of consumer markets.

China’s Internet businesses all hire staff to monitor their services, removing or blocking any antigovernment messages.

China is now the world’s biggest industrial robot market, accounting for one-fifth of all sales.

Zhang is her brand’s face, design inspiration, marketing department, and much more. She and other web celebs find their customers on social media. The companies that run the back end are small, often no more than one or two hundred people, supporting over a dozen brands like LIN’s. They only sell online; they keep little to no inventory and own no factories. Yet they do a rousing business. In the first four months of 2015, LIN had 80 million RMB in sales (about US$11 million), keeping nearly 30 percent as pure profit.8 LIN and other web-celeb companies have evolved quickly since 2015 and can show readers from traditional industries a new approach to operations, marketing, and data-driven strategy.

You’ll find a ton of contract manufacturers if you search for them on Google, but the biggest marketplace in the world is Alibaba.com, where you can shop contract manufacturers to find the product you want to create.

Find Your Supplier I’ve come to trust and rely on suppliers from Alibaba.com, but I know it has its detractors. When it comes to user experience, the site is, frankly, a bit of a mess. There’s also a certain distance between you and the supplier that the more firm-handshake-loving, look-them-in-the-eye-while-you’re-negotiating types don’t like. These days, though, Alibaba has a lot of competition, so there are plenty of options out there if you want a different path to your product. You can search for wholesalers, manufacturing companies, or contract manufacturers for your chosen product and find any number of smaller companies you can contact personally to get that more direct experience. Or, if you’re feeling particularly old-fashioned, you can attend a trade show in the market you’re going into. Find out where the next event is, hop on a plane, and go speak to a room full of potential manufacturers in a new city. Some people even go so far as to fly to China to meet directly with manufacturers. I’ve never done that—and I never plan to do that—but plenty of my friends swear by it. Of these options, though, I’d still recommend starting on Alibaba or a similar site and ordering ready-made product samples. Something magical happens when you hold a product in your hand: You realize it’s real. While it may seem at the outset like the best way to make your perfect product is to go meet a contract manufacturer in person and get them to build your design from scratch, that option comes with a lot more risk: the risk of lost time. We’re talking about at least three months before you see your first prototype—more likely six, or even twelve. All of that and you won’t even know right away if the resulting prototype will be the one that will make your brand. That’s why I recommend you come up with the idea, get samples, and improve over time. Perfectionists hate the approach, but you can’t expect to make it to a million dollars in twelve months if it takes twelve months just to get a look at what you’re creating.

The government has long known that for China to achieve its goal of becoming a developed economy, the country must be an innovation power.

products; send them to a drop-ship manufacturer it found on Alibaba; email back and forth to refine the requirements and agree on the contract; design a seller’s listing; and continually update marketing materials and product designs based on buyer feedback. Aside from the legal requirements of registering as a business on the marketplace and getting a bank account, all of this seems to me eminently doable. I think it will be done with a few minor human interventions within the next year, and probably fully autonomously within three to five years.

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I use Thai Chi philosophy in business: Calm down, there’s always a way out and keep yourself balanced, and meanwhile, don’t try to kill your competitors.