Jack Ma, the famed entrepreneur is currently China’s second-richest person.
Jack Ma turns 55 years as he was born on 10 September 1964 and he is currently net worth of 38 Billion.
Previous US president, Richard Nixon’s visit to Hangzhou in 1972 improved the circumstance of the travel tourism industry in his old neighborhood and Jack needed to grab on this chance.
Jack constantly needed to learn English as a child and he spent his initial mornings riding on his bicycle to a close by park, giving English tour to outsider tourists for nothing.
It was then he met a foreigner young lady who gave him the nick-name ‘Jack’ because his name was difficult to spell for her.
Although it seems to be unreal, once he made 12 dollars per month as an English teacher at Hangzhou Dianzi University after his Bachelor’s degree in English but still he was happy.
If we discuss his inspirational struggles, he grew up in a poor community in China.
He failed his university entrance exams twice and also was rejected from several jobs that include KFC before his success in third internet company, Alibaba.
Don’t think his success completely depends on his investments because his family didn’t have much money as savings to invest when he was young enough.
Jack Ma is widely famed for his extremely lucky bloke who just reached a billionaire in a snap but this is not practical and truth in anyhow.
This is digestive to know that he had faced high numbers of rejections and failures while he was in a struggling phase. For example, he failed his primary school examinations twice and failed thrice during his middle school examinations. When Jack applied for university examinations after his high school, he failed the entrance thrice.
Then finally he joined Hangzhou Dianzi University after he applied and got rejected 10 times for Harvard University.
These depressed rejections were only during his education phase.
Jack Ma tried and failed to get a job at multiple places during and after his Bachelor’s degree.
Also on his Entrepreneurial phase, he went on to fail on his two initial ventures. But anything didn’t stop him anyhow to dream bigger.
DOWN, BUT NOT OUT
Jack Ma made a statement in one of his interviews that “Well, I think we have to get used to it. We’re not that good”
Overcoming the pain of the rejections and utilizing rejections as an opportunity to grow and learn, that’s how Jack Ma made it.
His maximum achievements are practically unbelievable considering his humble beginnings.
By the way, he failed more times and more spectacularly that mostly a few of us can overcome it in a lifetime.
Jack Ma’s seven inspirational and soul-crushing failure that he experienced and managed to keep his optimism.
1) Didn’t give up after failing many exams at his school.
Jack Ma was not a good student, he didn’t get into middle school so close.
He failed a primary school test two times. he failed the middle school test three times, he failed the college entrance exam two times…Ouch.
These are the things that most of us are luckily not suffered with.
But surprisingly, Jack Ma’s not alone, there is a tradition of other great mind fellows, including Albert Einstein, Winston Churchill, and Abraham Lincoln. They also struggled early in their life with academics score but going on to do great things.
2) Scored 1 out of 120 marks on the math portion of his college entrance
Failing and getting a score of less than 1 percent on your college entrance exam are completely both different things.
And this wasn’t because he didn’t have preparation time.
Jack Ma struggles with mathematics, besides the fact that Alibaba is a tech company.
Jack Ma was not good at math, he had never studied management and still, he couldn’t read accounting reports.
The practical reality is that he never needed to be good at mathematics to become a billionaire.
Perhaps, the impressive part is that he never heard the word “computer” in his childhood.
But after all, he is the second richest person in China and the founder of Alibaba.
3) Didn’t Stop after being rejected from Harvard 10 times.
It’s not much surprising for being rejected from Harvard 10 times, the clicking point is that he never bothered to apply to the same place many times. This purely shows the sign and importance of patience
For being practical he also went to the capably named “Hangzhou Normal University”, where he opted for being an English major.
4) Stayed strong and optimistic after being turned down for 30 jobs.
After graduation from college, he precisely applied to 30 different jobs and was rejected by all of those companies for jobs.
Although he also applied for being a police officer, but they just kept rejecting him by the words “You’re no good.”
Fortunately, he kept running just like his favorite movie hero, Forrest Gump says “Today is cruel.
Tomorrow is crueler. And the day after tomorrow is beautiful.
5) Was the only applicant ( out of 24 ) rejected by KFC
24 people applied for KFC job in China but fortunately, Jack Ma was the only person who got rejected there too and the rest of 23 were hired.
Afterall Jack Ma’s marital life was good enough because his wife, Zhang Yin, married him before he became wealthy, after all, he wasn’t that handsome.
6) Couldn’t convince Silicon Valley to fund Alibaba.
Even after he started the company, Alibaba, he faced and suffered multiple failures. The profit margin was nil around the first three years.
In the beginning, they expanded very fast and almost end or failed suddenly when the Dot.Com bubble burst.
At that point, Alibaba was just about 18 months away from its bankruptcy.
Jack Ma humbly said, “I call Alibaba 1,001 mistakes.”
7) Told his 18 Alibaba partners that none of them could be an executive.
One of the motivational and worst financial decisions Jack Ma made was that he told the 18 partners to contribute a capital investment of a total of 60,000 USD i.e no one could rise higher than the position of manager.
His optimum plan was to hire outside managers,Then he notes this to be his biggest mistake ever.
Jack Ma humbly learned from his struggling days of Alibaba that “You’ve got to make your team have value, innovation, and vision.”
Finally, after convincing 17 of his different companion friends to invest and join along with him in his new e-commerce business startup – Alibaba, the organization started from his apartment. At first, Alibaba didn’t have a single penny in investment from outside financial specialists, however, they later raised $20 Million from SoftBank and another $5 Million from Goldman Sachs in 1999.
Building trust among the customers of China that an online payment or installment and transfer of package is protected was the greatest challenge for Jack Ma and Alibaba itself, a challenge that Jack Ma will succeed in his lifetime.
You will be shocked to know that Alibaba is worth more than Facebook and processes goods more than Amazon and eBay combined.
This seems to be like a story of an arrogant and rich billionaire who hasn’t faced the problems and seen dark.
This seems to be as simple as it sounds, but Jack Ma had a hard life before being wealthy in his life.
Today, Jack Ma is a role model of most people who are struggling for their goals and seeking for a die-hard inspiration.
After all, Jack Ma is one of those self made billionaire with degrade beginnings.
Rejected, But Not a Failure