Richard Liu Qiangdong; How I Became The King Of E-Commerce

Richard Liu Qiangdong is one man who knows how to keep his head up while faced with adversity. Not only did Richard Liu build JD.com, one of the largest retail companies in China, he was also smart enough to shift his strategies to survive a lethargic SARS outbreak. While speaking at the World Economic Forum, Richard Liu recounted the events leading up to his success, much to the delight of a buoyant audience.

 

According to the founder and CEO of Jingdong, much of his motivation to build JD.com was inspired by his ailing grandmother. With his parents not in a position to afford medication for his grandmother, Richard Liu had to step up and bear the responsibility. It is this kind of strong love for family that drives Richard Liu, and the philosophy is heavily embedded in JD.com‘s culture and operations.

 

Richard Liu Qiangdong was introduced into entrepreneurship at an early age. His parents ran a struggling transport company which, nevertheless, taught him great lessons about entrepreneurship. The future billionaire would start his first business while he was still a student at the university. Richard Liu did not, however, invest enough time into his business, which was a restaurant, and this forced him to close it down shortly afterward. Liu, at the time, was pursuing a Sociology degree at the prestigious Renmin University of China.

 

He graduated in 1996 but would soon find out that the profession would never pay him the big bucks. This pushed him to study programming and he took up several coding jobs, which enabled him to pursue his EMBA at the China Europe International Business School. After his graduation, Richard Liu would find employment at Japan Life, a popular health product company. He worked with Japan Life for two years as the head of computers and also the director for computers before he left to start his own venture. See This Article for additional information.

 

Subsequently, Richard Liu Qiangdong opened a magneto-optical shop in Beijing and named it Jingdong. This was in 1998 and by the year 2003, he had opened 12 shops in Beijing. However, Liu Qiangdong’s success was short-lived because a SARS outbreak would force him to close down all his shops. Richard Liu, in quick response, came up with the idea to take his business online, and that was the birth of JD.com.

 

In an article on AACSB.edu, Liu was listed as one of the “Most Influential Leaders”. As a testament to Liu’s admirable business practices, he has received numerous national and international awards for his entrepreneurship, business influence, innovation, and leadership.

 

See Also: https://www.thecasecentre.org/students/products/view?id=148717

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