It’s normal for entrepreneurs to have some failures under their belts. In a way, failure makes an entrepreneur what he or she is willing to become. Some fail and choose to give up and take crappy jobs with companies they don’t want to work at. Others learn from their failures or turn them into victories.
Richard Liu Qiangdong is an entrepreneur that learned from one failure and overcame another. Liu Qiangdong began as a graduate with a degree in sociology. He wanted a job in politics but quickly discovered no role in politics offered enough money.
After graduating from Renmin University, Liu Qiangdong learned that his grandmother was sick and needed expensive treatment. Since politics couldn’t offer the money he needed, he learned how to program computers and started working as a freelance code worker. That earned him enough money to pay for his grandmother’s treatment and pursue his new dream.
The freedom and monetary benefits of freelance work made Liu Qiangdong want to own and operate his own business. He started working toward an EMBA from the China Europe International Business School while continuing his freelance work. After saving enough money, he took his first shot at being his own boss.
His first shot at entrepreneurship was through restaurant ownership. Liu Qiangdong greatly underestimated how much work it takes to run a restaurant successfully. He tried to get away with only dedicating two hours of his time to running the business every week. See This Page for more information.
The restaurant failed miserably and taught Liu Qiangdong that entrepreneurship requires full dedication. While still in school, he set his entrepreneurial dreams aside and focused on learning everything he could. Even after graduating, he took a job at a health products company and continued learning. Finally, in 1998, he gave entrepreneurship another try.
Liu Qiangdong opened the first “Jingdong” in Beijing in a four-square-meter store. He sold magneto-optical products and found great success in doing so. By 2003, the SARS outbreak made him rethink his business, and JD.com was the result.
More about Liu Qiangdong on https://jingdaily.com/tag/liu-qiangdong/