Richard Liu, a.k.a Liu Quangdon is the man behind the now popular JD.com. This is definitely among the largest ecommerce platform in china whose current worth sits at a hefty $57.6b. This tremendous popularity has given its founder and CEO, Mr. Liu great fortune with the Forbes Magazine putting his net worth in the over $11 billion range. He has sociology bachelors from the Renmiin University of China and an undisputed knack for business from a very young age.
His success didn’t come overnight. His entrepreneurial spirit budded when he was still a young and upcoming business man working on his father’s transportation business before he could join colleges. Once in college, his affinity for business drove him into starting a restaurant that almost immediately collapsed. This didn’t break his spirit. He went on to set up a retail business with a series of brick and mortar shops.
According to Richard Liu, his passion was the desire to provide money for his then ailing mother coupled with his strong disinterest in civil service. Some people aren’t just cut for employment. Liu Quangdon is one of them.
His shift to online retailing was during an outbreak of a respiratory system that pushed a good deal of people out of public spaces as they tried to avoid infection. Together with his store managers, they figure that taking business online will solve the problem of having to visit congested stores making it a win-win. This was the birth of JD.com.
To make foothold in the already occupied market, Richard Liu decided to use honest business approaches instead of offering high priced goods and selling fake commodities to unsuspecting consumers like other companies did. Unknown to him, the JD.com honesty formed the basis of a strong business that is very much trusted by locals in China.
Richard Liu also insisted on shifting his inventory online one product at a time to give himself time to acclimate to the new environment without watering down customer experience. The whole migration took over six years and the exemplary service it offered users is the basis of the huge success it has become.
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