Richard Liu is a notable businessperson in the world. He is the founder and the Chief Executive Officer of the largest retailer in China known as JD.com. It is under the leadership of Mr. Liu that this business has moved from the bottom to the top. Currently, it is ranked as one of the top four latest businesses in China by market value. Richard Liu believes that JD.com will be the largest business in China and by extension, the largest in the world since China will be the largest economy. Currently, he is working on building this company so that it can rank us the top Chinese company.
In an interview at the World Economic Forum, Richard Liu gave out a lot of information about his life and business and how he has managed to build one of the most successful businesses of today.
Richard Liu started engaging in business activities when he was at the University. He built a restaurant business which unfortunately collapsed since he did not have sufficient time to manage it. However, this business taught him very important lessons about entrepreneurship. Today, this results he has recorded have been a result of the dedication that he has given his entrepreneurial endeavors.
Although he failed in his first attempt to create a business, he did not give up. In 1998 after completing his university, Richard Liu decided to give it another go. He set up a small store in Beijing to sell computer accessories. This business picked off to a great start since he had learned the basics of running a successful business. Immediately after completing his university-level education, Richard Liu worked with a health company known as Japan Life. It is in this business that he learned some of the most important lessons that he later used to run his own business.
In 2004, Richard Liu decided to create a new business that would run on the e-commerce platform. He was convinced of that an Internet-based company would perform better than a brick-and-mortar business. He closed down 12 stores that he had opened in Beijing and went into e-commerce fully. Between 2004 and 2010, Richard Liu managed to stock JD.com with almost every product that was on the Chinese market.
Learn More: www.jd.id/richard-liu-jd-ceo-about
Coming from Angola, Isabel dos Santos has climbed up the ladder to become Africa’s richest woman. She is the former daughter of Angola’s former president and has gone on to do wonderful things in her community and in business as well. Isabel dos Santos is the current Chairwoman of Unitel, an Angola communications company making waves in Africa. She is also an advocate for women’s right and the modernization of Africa through technology.
Isabel went to the African Summit in Brussels in order to discuss how to improve relationships between the European Union and African Nations. She stresses the need for improvements to the economy through diversification. This would include improvements to most sectors of structure including agriculture and banking. In terms of agriculture, new tools and implements that could make activities easier will be of great advantage. Increased productivity will reduce lack of food, reduce the price and create of a lesser cost of production. The economy will greatly benefit from this.
Another point of development is banking, Isabel dos Santos reckons that Africa will soon embrace a fully digital form of banking which will increase the number of individual bank accounts in the continent. The digital structure will lay the foundation for e-commerce platforms, at a point Africans will forsake traditional trade for online shopping (IsabeldosSantos).
According to Isabel dos Santos, this growth should be coupled with higher quality education to foster talented graduates. Also, the improvement of a the legal structure will highly increase prospects of future investments. This will bring in jobs and keep the talented pool of graduates. Another point Isabel dos Santos raised, was the population growth and the need for newer smaller cities. If not, it could be more efficient to create better transport systems that would decrease congestions in megacities. Her company is currently in partnership with google to set optic cables from Africa to Brazil.
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