Jack Ma on how to run a successful business. Focus on Your Customers. Serve your employees. Learn from your competitors.

This is an amazing speech given by Jack Ma.

Video is courtesy of the Jack Ma YouTube channel

Who is Jack Ma? He was rejected by Harvard University when he applied. Jack Ma is now the richest man in China and one of the top 20 wealthiest people on planet Earth.

His speech is common sense, but only if you see the sense in what he says. For many companies the number one priority is getting the fattest share possible of the customer’s wallet. For many companies it’s about making numbers, not about trying to exceed their customer’s expectations. For many companies, it’s about trying to squeeze every extra penny out of a customer, instead of trying to actually making the customer their number one priority and helping said customer. If you truly help a customer, that customer will continue to return to your business and help your company to survive and grow.

Jack Ma also understands the importance of serving one’s employees. Growing the Team and not just some numbers.

The following are some of the main points which I felt Jack Ma had made in his speech. IMHO, every company employee, from the President on down, should watch this video of Jack Ma’s speech.

Focus on your customers. Customers should always be the number one priority. Customers are the one’s who give you the money. Customers will give you the innovation. Help your customers and they will help you to survive and grow.

When  you think that the Shareholder is the number one priority, then you only think about making the numbers.

Customers stay with you. Customers grow with you. Customers give you the money. Customers give you the hope. Customers give you the support. So focus on customers.

Rely on and serve Your Employees. Your employees make the Team, which makes the difference. Employees make the dream a reality. Listen to the employees. Don’t just focus on shareholders. Your employees stay with you. If you believe that your employees are talented people, then they will become talented people. Develop your employees. When your employees are developed, then your company will also develop. Your employees come not just to work. They come with dreams which they will share with you.

Learn from your competitors. Be honoured that you compete with another firm. Learn from your competitors. Respect your competitors. Don’t just copy innovative ideas, learn from them.

Posted by: Vincent Banial

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