Richard Liu Qiangdong Outlines The Formation Of JD.com

 

Richard Liu is a successful businessman and entrepreneur in China. Richard Liu is the founder and chief executive JD.com, the largest internet based company in China.

Currently, JD.com is the fourth largest company in the country. The company was formed in 2004 although retired Liu was in business from 1998. Before, he was managing 12 physical stores that dealt with computer accessories and digital products. It was determined to make it in business, but everything did not work out as he planned. The computer accessories business was not working as he intended and he decided to close down for some time and came back with a new idea. Richard Liu sat together with this managers to come up with a new way of making it in the business, and this is when they found the idea of setting up an internet based business as a great idea.

Richard Liu has built his business career from scratch. Everything he has accomplished today has been through hard work. The name JD.com came from a combination of his name and that of his first girlfriend. When he was growing up, his family ran a small transport company that influenced him to take business tasks. He identified that his parents’ business was not doing well and it would have been a great decision if he would have been in a position to put a business that would thrive successfully.

Richard Liu created his first business while attending college in China. It was a restaurant that unfortunately collapsed to reasons he attributes to lack of sufficient time to concentrate on its growth. He was in his third year in college, and therefore he had very little time to engage in work outside of class. He only had 2 hours a week to engage in business. The failure of the first business would not dampen his spirit. After college, he set up another business that had 12 physical stores in his home district. Get Related Information Here.

Richard Liu started this business before going to university. He was inspired to start the business by the challenges that he saw his parents go through due to lack of sufficient income. At the same time, his grandmother who he held a close relationship with was sick and would not afford medication. He needed money, and the only way was through business.

Today, JD.com stands at about $60 billion whereas his personal net worth is about 12.7 billion. And in 2017, Richard Liu became a “Variety500 Honoree” as a result of his persistence, innovation, and hard work. During his free time, the billionaire loves to either spend time with his family or volunteering at Red Cross.

 

Check out his profile on https://www.linkedin.com/in/richard-liu-54849942/

 

 

 

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