In a recent interview entitled “An Insight, An Idea”, Richard Liu Qiangdong spoke of his humble beginnings and shed some light on what once started as a small computer business that turned into China’s largest ecommerce website known worldwide as JD.com.
Richard Liu laughed shyly as he told the story of the name JD.com being inspired by his first love, joining together his first name and her last name. He teasingly remarked, “I wish my wife wasn’t here to hear that.”
Liu Qiangdong closed down his physical stores and started selling online in 2004. Toward the end of the second year they compared figures and realized online sales significantly increased their profit and they realized that ecommerce was the wave of the future.
What made Richard Liu so effective or unique? What made his company grow so rapidly? Liu Qiangdong states there were many knock off and counterfeits online at the time and the market was chaotic, so he made the conscious decision that they would not sell fakes. They would only sell quality products. Today his market value is $60 billion US dollars. He has over 167,000 employees, and counting. Last year alone they added 30,000 employees.
Does Richard Liu Qiangdong take his billionaire status seriously? You bet! “Being wealthy is a responsibility,” says Liu Qiangdong. “If you’re wealthy, you have resources in your hands to grow your company, grow your business and grow society as a whole.”
What gives him the greatest pride? “Family…I want to be a good son to my parents, a good husband to my wife, a good father to my daughters, a good boss to my employees, and a good partner to my business partners.”
Billionaire at 44 years old. What’s next? Liu Qiangdong says he wants to leave something to his countrymen, to instill pride, but most of all he just wants to be seen as a “good guy”. Click Here to visit their Linkedin page.
More about Richard Liu Qiangdong on https://www.scripps.org/physicians/18780-richard-liu?tab=overview