Many factors force businesses to take a step back and re-evaluate their business model. For Richard Liu Qiangdong, that moment was above his ability and it was not policy based. The infamous 2004 SARS outbreak presented this billionaire a chance to reinvent himself to what he is today. By this time, Liu was already a proud owner of 12 stores in Beijing. However, the lack of customers in his shop was unexpected. He had to redefine his business model from a brick-and-mortar approach to a more trendy and innovative way. The results of his deliberation gave birth to his current company, JD.com.
His secret to expansion is without a doubt impressive. Richard Liu Qiangdong understands that for a business to be effective in discharging its mandate, finances are irreplaceable. In the past 16 years, he has been able to get into business deals, all in the purpose of making JD.com the future of e-commerce. Even though the company is currently worth more than $57.6 billion, Liu believes that the next phase will be possible if he manages to bring like-minded investors and people that share the same vision with JD.com.
The Renmin University of China graduate is also certain that deals with corporate giants such as WeChat will enable his company propels to the new heights. His sociology background is also important for him when negotiating deals like these. Richard Liu Qiangdong knows when to make an offer and when to negotiate. According to pundits, he is one of the most charismatic personalities in the technology investment world.
Even though he changed his business model from brick-and-mortar to e-commerce, his principles of business remain. He is still the hard working CEO he was before JD.com. On top of that, Richard Liu Qiangdong is also client-centered like he was before this company. The reason why he was able to grow his business from one store to 12 stores is mainly on how he treated his customers and as the CEO of JD.com, he still holds these principles close. Liu is also one of the most hardworking personalities in this particular niche. This has made JD.com one of the fastest and the most efficient companies around the globe.
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