Richard Liu talks about how he was able to amass so much wealth at an early age and his daily billionaire routine during the recent World Economic Forum. Richard Liu is the founder and CEO of JD.com, the largest retailer in China. Having graduated with a sociology degree from Renmin University of China in 1996, he dedicated most of his time in doing freelance work. Richard Liu got hired and later quitted to start businesses such as a restaurant and selling health products which terribly failed. He later started selling computer parts in Beijing in his own retail. After doing research switched the operation to online business after which the rest is history.
JD.com uses different strategies to beat competition from other rivals in China. This include:
• The company only deals with genuine products. No counterfeits are considered.
• They company offers fast delivery within China. It only takes a maximum of six hours for them to deliver in accessible China and a maximum of twenty hours for them to deliver in Rural China.
• Customer equality is highly valued.
Richard Liu says his expansion goals are to provide best quality products to China from around the world. He also wants to expand JD.com globally but systematically through South East Asia, Middle East, Europe then eventually America by making agreements with local partners. All the four types of products like E-commerce, Logistics and Technology product will move as a pack in this expansion plan.
According to Richard Liu, China has been experiencing a very high economic growth of over 8%. However, this is anticipated to drop this coming year as the quality of commodities improve. This will increase in the profitability of products and also help the global community to grow.
Richard Liu considers his wealth as a source of responsibility rather than happiness. Having a net worth valued around sixty billion dollars hasn’t changed his daily routine. Richard maintains getting up early, having a meeting from 7:00am to around 8:30am with senior managers then checking updates on WeChat and email later on.JD.com has over one hundred and sixty-seven thousand employees to date.
Richard Liu either hasn’t neglected his social life. He is a husband and a father of two. Richard Liu hobbies are swimming and travelling in deserts. That’s new, right? Yeah. He in fact says he has travelled to every desert in China. He also has a philanthropic spirit which is shown by 50% of his cash income going to charity.
In conclusion, Richard Liu wants to be a source of motivation to young entrepreneurs in China. He also wants to empower them.
Learn More: www.ftvcapital.com/team-member/richard-liu/