7 Resounding Failures Of The Founder Of Alibaba

Any other person would have given up after the second attempt. Jack Ma didn’t give up and won.

Jack Ma, now 54 years old, has a fortune of $ 36 billion. This is a result of Alibaba’s (NYSE: BABA) initial public offering. It brought the company to an estimated $ 150 billion valuation. History. Jack Ma was a teacher of English and earned $ 12 per month. He was happy.

His humble beginnings have made his achievements almost unbelievable. He has had many failures on his path to success, but look at where he is now.

These are seven times Jack Ma failed but he has managed to make it through thanks to his optimism.

1. After failing several college exams, don’t give up!

Jack Ma wasn’t a great student. He barely even made it to highschool.

“I failed two important elementary exams, failed another exam three times, and failed the college entrance exam 2 …”..” Many of us are fortunate that we didn’t have to endure this or tell our parents.

Surprisingly, Jack isn’t the only one. Many other great thinkers include Albert Einstein and Winston Churchill.

2. His college entrance math exam scored only 1 point out 120.

Suspending is one thing. It’s quite another to score less than 1 percent in your entrance exam. It wasn’t because he didn’t prepare enough. Despite Alibaba being a tech company, Jack Ma still struggles to master math.

Ma even stated, “I’m terrible at math, I have never studied management, but I can still read accounting reports.”

It seems you don’t have to be a mathematician in order to become a billionaire. Even more bizarre is the fact that he didn’t even hear the term “computer” during his childhood.

3. Despite being rejected ten times by Harvard, he didn’t give up.

Harvard’s rejection of 10 applications is not surprising. But, it is quite remarkable that so many people have applied. This is why Jack Ma is an example of perseverance. Patience is the most important quality you can have.

He attended Hangzhou Normal University and studied English teaching.

4. Despite being rejected for 30 jobs, I remained optimistic.

After graduating college, he applied to 30 jobs and was denied at each one.

He tried to be a policeman. They didn’t give him any chance.

Jack continued running, much like Forrest Gump’s hero. “Today’s life is hard. Tomorrow will be better. It will be even more beautiful the day after tomorrow.

5. KFC rejected him as the only candidate out of 24.

Only one of the 23 KFC candidates with whom he ran was rejected. It is mainly due to his low height and appearance.

Zhang Ying, his wife (who he married before he amassed his fortune), isn’t concerned about his appearance. “Ma Yun may not be a handsome man but I fell in love because he can do many things that handsome men cannot.”

6. Silicon Valley failed to finance Alibaba

He had many failures even after founding Alibaba. The company did not make a profit for the first three years. They expanded too quickly and nearly collapsed when the dot-com bubble burst. Alibaba was just 18 months away bankruptcy.

Jack Ma humblely stated, “I call Alibaba my ‘1,001 mistakes.

7. He said to his 18 Alibaba Partners that none of them could become an executive.

Jack Ma, a CEO, made one of the most difficult financial and motivational decisions. He told his 18 partners ($ 60,000 equity) that they could not be company executives. He planned to hire executives outside the company.

He said that this was his biggest mistake. “One lesson I learned from Alibaba’s darkest days was that you must value your team’s innovation and vision.”

You will not succeed if you start slowly

Jack Ma is an iconic example of how wealth can come from humble beginnings and persistence being more important than wealth. This is an excellent example of how failures do not have the power to stop you from your path to success, no matter how many you make.

Jack said, “If I don’t give up, there is still a chance.” Giving up is the biggest mistake.

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