How Richard Liu Qiangdong Turned His Business Into A Fortune

 

Entrepreneurship is a desirable career path for most people, but business has a lot of challenges which some find very discouraging. Richard Liu Qiangdong is one of the most iconic and successful entrepreneurs and businessman in China today.

 

Liu Qiangdong is an entrepreneur and businessman has found a lot of success with his business venture JD.com. JD is an e-commerce platform that is highly successful in China and has of late been looking to enter the global space. At one time, a little over two decades ago, this e-commerce platform was just a single new shop in Beijing. Here is how Liu managed to turn his business venture into a fortune in under two decades.

 

Overcoming the challenges

Richard Liu has pointed out severally in interviews that his ability to overcome the challenges that he faced in his business has been very pivotal to his success. He established Jingdong in 1998 in Beijing. This shop sold magneto-optical products, business was quite good at the time, and Liu turned a commendable profit again and again. He went ahead to open new shops and expanded his business significantly. By the year 2003, this entrepreneur had a total of 12 shops around Beijing.

 

A major challenge came Richard Liu Qiangdong’s way later in 2003 when there was a SARS outbreak in the city. To save his business, Liu Qiangdong decided to take it online and therefore he launched JD.com. This platform attracted a significant number of online shoppers and grew when consumer goods and electronics were introduced as part of what was sold.

 

Investor’s support

Now with more on sale, more people came into the site to buy stuff. The prospects of JD.com soon caught the attention of its first investor, Tencent. Tencent was a blessing at the right time in Richard Liu’s business. Through Tencent’s social media app, WeChat, this e-commerce platform was promoted to new customers. Apart from the promotion, Tencent also made a significant investment in JD.com which helped it grow its services. Now with the ability to efficiently meet its customer’s demands the growth of this e-commerce platform was unprecedented. Today, Walmart and Google have also invested in JD.com. Visit This Page for additional information.

 

Visit: https://www.crunchbase.com/person/qiangdong-liu

 

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