Richard Liu Qiangdong: Rebuilding JD.com

 

Every company faces tremendous odds at some point in its history. What is a CEO to do when a natural disaster destroys his or her facilities or public behavior changes the way people interact? The simple answer is that the above-suggested CEO adapts and overcomes the challenges.

In reality, overcoming nationwide trouble isn’t as easy as coming up with brilliant marketing or reinventing the company. Sometimes, owners must completely abandon their original idea and build something entirely from scratch. That’s what Richard Liu Qiangdong did after the 2003 SARS outbreak that ravaged China’s people and its economy.

Richard Liu Qiangdong is Founder and CEO of JD.com, one of China’s most successful online companies. JD.com began as a little brick-and-mortar store in Beijing. At the time, Liu Qiangdong never thought his small store would become a $50 billion company. He imagined a successful but humble life for himself and his family.

Growing up, Liu Qiangdong’s family was poor; they owned their own business, but the business was small and didn’t have many clients. His parents owned a shipping company that only transported coal in one direction: north to south. When he moved to the city, Liu Qiangdong wanted to pursue a career in politics; he even earned a sociology degree from Renmin University.

Soon after earning his degree, he found out that political professionals don’t make much money in China. Instead, he learned computer programming and worked as a freelance coder. Using that money, he put himself through business school, earning an EMBA and landing an excellent job at Japan Life. He held many positions at Japan Life but still wanted to pursue a career as an entrepreneur. He tried to open a restaurant while in school, but it went belly up due to lack of dedication. Refer to This Article to learn more.

In 1998, he opened Jingdong, a little store in Beijing. Jingdong sold magneto-optical products. By 2003, Liu Qiangdong opened 12 Jingdong stores, which were all closed after the 2003 SARS outbreak. So, Richard Liu Qiangdong moved his company online, and JD.com was born.

 

More about Richard Liu Qiangdong on https://www.wealthx.com/dossier/qiangdong-liu/

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