How do you go from failing in the restaurant industry to creating a $37 billion dollar revenue generating company? Patience and persistence according to Richard Liu Qiangdong. The short story is that Richard Liu Qiangdong failed in the restaurant industry and had to make a transition from doing what he did in the past to doing something different.
So what did he do?
He went into sales. That’s right.
Richard Liu Qiangdong stepped into health product sales and then moved on to opening up his own retail store which sold computer parts.
Things went swimmingly until the nation was swept up by the SARS epidemic. The SARS epidemic forced Richard Liu Qiangdong to make a decision, he could either close up shop temporarily until SARS went away or he could move his operations into the digital frontier.
Richard Liu Qiangdong chose the latter and started journey to success. Richard Liu didn’t give up, he looked at his options and made the rational choice of making certain that he pressed forward. It would certainly have been easy to give up, he could have simply went to a different venture and have started all over, instead, he chose
Richard Liu Qiangdong started the store offline and then transitioned it the online sector. This decision would help him to become one of the strongest players within the retail space. He would go on to list the company on the Nasdaq in 2014, where it would be a public company and then he would move forward with adding more innovations and interesting components to the company.
The company now has a market capitalization of more than $40 billion dollars. Richard Liu Qiangdong is a larger than life figure because of his many different characteristics and his accomplishments. He makes certain to finalize what he starts and to move forward despite opposition.
Expect great things from JD.com. They will continue to partner with large corporations such as Walmart, small and nimble startups and help to improve lives for people in China and for people who shop on their site, have ideas, and want to be a part of the digital future.
About Richard Liu: www.jdwl.com/richard-liu-jd-ceo-about