4 big mistakes that Jack Ma has made over the years
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Recently, Jack Ma brought 1.2 billion yuan to Evergrande to play football, which once again became the focus of public attention. Jack Ma's subversiveness is obviously beyond doubt. He started Alibaba to solve the financing and transformation of small and medium-sized enterprises; he started Taobao to stimulate the so-called domestic demand; he started Alipay Yu'ebao to revolutionize the bank. However, in the process of Alibaba's growth and expansion, Jack Ma also made mistakes. Let's take a look. 1. Move the company headquarters to the United States and the domestic headquarters to Shanghai. The famous financial commentator Wu Xiaobo previously publicly pointed out that the first mistake Alibaba made was to move the company headquarters to the United States. Wu Xiaobo said that grassroots enterprises must adhere to the "grassroots spirit" and not blindly pursue "high-end". In 1999, after Alibaba successfully raised funds, it moved its headquarters to the United States and its domestic headquarters from Hangzhou to Shanghai. It was found that it was not suitable for the local climate and was very uncomfortable, so it withdrew back to Hangzhou. At that time, it coincided with the winter of the Internet industry, and the entire industry was very uncomfortable. The reason why he couldn't stay in Shanghai was that Alibaba's service objects were mainly concentrated in private enterprises. Shanghai's urban temperament welcomes large state-owned enterprises and top 500 foreign-funded enterprises, and there are few opportunities for private enterprises to develop; Hangzhou is the opposite. Zhejiang gathers a large number of private manufacturing and foreign trade enterprises, and they have real e-commerce needs. 2. Find "genius" employees Jack Ma once admitted that in 2000, when we raised $5 million in funds, I made a mistake. With such a huge amount of funds, we began to make mistakes constantly, that is, we began to try to find and hire "genius" employees, those so-called MBA talents and vice presidents of multinational companies. Jack Ma said, because I used to think that if you can get an MBA, it means that you must be a very good talent. But among the talents we hired, it is really unsatisfactory. Because they will only talk to you about strategies and plans. At that time, Jack Ma only had $5 million. He recalled, I remember a vice president of marketing said to me, "Jack Ma, this is the marketing budget for next year." I looked at it and asked, "What? 12 million US dollars? I only have 5 million US dollars." He replied, "I never plan less than 10 million US dollars!" Therefore, when hiring employees, you should look for the most suitable, not necessarily the most "talented" talent. He suggested that in the early stages of entrepreneurship, companies should look for appropriate talents and then invest in them, so that only when they grow up, your company will grow and develop together. 3. Doubting the ability of entrepreneurial colleagues. Jack Ma later reflected deeply on this period of history. In a microblog in 2012, he said: "In 2001, I made a mistake. I told my 18 co-founders that they could only be group managers, and all vice presidents had to be hired from outside. Now 10 years have passed, and the talents I hired from outside have all left, and those whose abilities I had doubted before have become vice presidents or directors. I believe in two creeds - attitude is more important than ability; choice is also more important than ability." 4. Marrying Yahoo In August 2005, the "Yaba merger" shocked the world, and Alibaba took over Yahoo China. However, the early capital operation with Yahoo later put Alibaba Group in a dilemma. Later, Alibaba's B2B business chose to be listed in Hong Kong in 2007, allowing the two major shareholders, Yahoo of the United States and Softbank of Japan, to share the dividends of China's rapid growth in the e-commerce field. However, these profits were earned by millions of Chinese sellers who worked day and night, and even died of overwork, and offline merchants who sacrificed their interests in the face of low prices and disorderly e-commerce competition with fakes and parallel imports. Wu Xiaobo believes that this once glamorous merger and acquisition case has produced two bitter fruits: from then on, Jack Ma lost control of Alibaba in terms of equity; Jack Ma made this merger and acquisition useless in a very unfamiliar battlefield. For the proud Jack Ma and the invincible Alibaba team in China's Internet world, Yahoo China has indeed become an unspeakable pain in their hearts. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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