The ability to stay on the path can make a business or ruin it and that is something the self-made billionaire Jack Ma knows well.
The iconic entrepreneur has led Alibaba since its inception in 1999. Under his watch, the company grew into a major tech juggernaut to make Ma one of the richest men in China.
Speaking at the annual meetings of the International Monetary Fund and the World Bank, Ma shared how he remains focused in his pursuit of success.
“Whether young people, old people, ask three questions,” the billionaire told a packed conference hall in Bali, Indonesia.
“I keep asking myself these three questions,” he said:
- “What do you have?”
- “What do you want?”
- “What will you give up?”
Many people usually fail to ask themselves what they are willing to give up because they
tend to think they don’t have much to start with, Ma said.
But it’s inevitable that sacrifices must be made in the long run, said the teacher and
entrepreneur. And recognizing that helps people to commit to their ambitions over the
long term, which is often what’s needed to produce results, he said.
“Don’t think you will succeed next year; you have to prepare for 10 years,” he said,
pointing out that Alibaba didn’t take just a year or two to get to where it is today.
Ma said his founding team didn’t have much money, knowledge or industry contacts
when they set up the company. But they have proven that they could succeed “by
working hard, believe in the future, believe in the vision day after day to improve
To keep those beliefs alive, one has to ask those three questions frequently, Ma said.
“Always think about these questions, and then you’ll be fearless, you’ll be optimistic, you
will know what you want,” he said. “When you’re going on that, you’ll never get lost.”
“Success is the result of perfection, hard work, learning from failure, loyalty, and persistence.”
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