Richard Liu Qiangdong: Managing a Successful Online Retail Business

Business people in China develop their strategies and techniques on how to sell their products. Those who have caught the interest of the public usually end up becoming a successful entrepreneur, but for those who lack the charisma, they would have to work hard to achieve their dreams. Richard Liu Qiangdong, the owner of and one of the richest people in China today, never had the charisma needed to become an instant billionaire. Instead, he used his skills in marketing and computer programming to create one of the largest online retail businesses in the country today. Richard Liu Qiangdong stated that the secret behind his business would be perseverance and determination.

Back when he was still studying in college, Richard Liu Qiangdong shared his idea of opening a restaurant business that would cater to students who have a limited budget. His parents supported him with his idea of becoming a businessman, but he lacked the training and the knowledge on how to run a restaurant, and his business failed miserably. However, instead of mourning for his failures, Richard Liu Qiangdong took the experience as a learning tool and tried to open up another business after he graduated from college. He opened up a computer parts store, selling products used on computer systems and networks. His craftsmanship transformed him into one of the most reputable computer businesses in the country, and many companies started working with him, with hopes of getting affordable and reliable computer parts.

Richard Liu Qiangdong’s business flourished, but another problem came, and it almost made him surrender. As the SARS outbreak is spreading across the Asian continent, the Chinese government decided that it would be dangerous if physical stores would remain open. The country closed down brick-and-mortar businesses, and it affected Richard Liu Qiangdong’s computer parts business. However, he used his knowledge in computers and created a website for himself where he could sell some of his products. People started visiting website, and eventually, the website grew larger, selling more products other than computer parts. It continues to grow, and many people keep on visiting the website to shop for anything that they wish for.

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