Richard Liu Qiangdong Builds JD.com From Failed Physical Stores

 

When companies fail, their founders usually abandon the business. Under most circumstances, businesses fail due to poor leadership, poor work ethic, or changes to the community. There are rare instances when health hazards cause a company to fail. In those instances, companies tend to remain close.

In 2003, China experienced a nationwide SARS outbreak. SARS immediately made it dangerous for people to have face-to-face contact. This meant that brick-and-mortar establishments faced a gloomy outlook, regardless of what business they were in. Many closed their doors and never reopened, but a few found new ways to reach customers.

Richard Liu Qiangdong is one of China’s most successful entrepreneurs, and his solution to the SARS crisis gave birth to China’s second most successful online company. Liu Qiangdong first real job was as a freelance coder, something he started doing after learning computer programming.

His freelance work was just a way to make extra money while attending the China Europe International Business School. At that time, his grandmother fell ill, and he needed money for her treatment. He also used that money to open a small restaurant, officially breaking into the entrepreneurial game. See Related Link for more information.

The restaurant venture ended badly, as the business went belly up due to his lack of commitment. Restaurants require constant attention from owners and managers, but Liu Qiangdong only dedicated two hours a week to the business. After that failure, Liu Qiangdong decided to wait before trying to open another company.

In 1998, he got another opportunity to branch out on his own after acquiring a four-square-meter store. He opened a little shop that sold magneto-optical products. For a name, he combined the last characters of his and his then-girlfriend’s names. Jingdong became a massive success in Beijing. Five years later, there were 12 Jingdong stores nationwide.

Unfortunately, 2003 was the same year of the SARS outbreak. With brick-and-mortar stores no longer safe, Liu Qiangdong moved his company online. Jingdong became JD.com, and Liu Qiangdong found greater success.

 

Visit him on https://www.forbes.com/profile/liu-qiangdong/#711217232c0d

 

JD.com Is Really Getting Into The Spirit Of Giving This Holiday Season

 

JD.com is known best as China’s biggest retail company and though the company’s officials are proud of the way that JD.com is continuing to innovate in the world of retail and to set new records for sales, they are as proud of the commitment to philanthropy and giving back to the community that has become engrained into the JD.com company culture.

One of the biggest priorities on the minds of company officials at JD is to find new ways to help the disadvantaged and the left behind children of the country of China. A recent strategy for helping out in this regard has been to partner up with leading consumer brands that are willing to donate portions of their profits toward giving the children who need it a better life.

JD.com has also partnered up with a leading philanthropic organization that is noted for its work that it does for children. This organization is known as Wardrobe of Love and it is working together with JD.com on the Season of Giving promotion that will run this holiday season in late December.

It is in this critical promotion that major consumer brands will be donating a portion of their overall sales in order to ensure that kids are able to receive items such as school bags and books as well as clothing and other items that are needed in some of the most remote and harsh regions of the country of China.

In recent decades the country of China has seen rapid development as urban cities continue to grow as lightning speed. In this environment, many parents have gone to these urban areas for employment while having to leave their children with other family members. Get Additional Information Here.

Thankfully, these numbers of children in this situation are on a sharp decline, but there may still be as many as seven million children who fall into this category and JD.com is devoted to finding ways to help them out. Partnering with Wardrobe of Love and these major consumer brands are going a long way towards helping these children.

 

Additional Reference:  https://boards.greenhouse.io/jdcom