Eight tips from Jack Ma

Simple advice — don’t be overconfident. Most well-known companies lost their advantage in the market when they decided they had reached the top in their business. At the time, Yahoo achieved such success that no one could imagine that it would become what it is today. And Netscape was so successful that we never thought it would disappear. Be critical of yourself and your actions.

Customers pay money for the product. Employees provide service and innovate. All this makes the client happy. If the client is satisfied, the employee is satisfied — the shareholder will also be satisfied.

Three times I attempted to enter university but failed. I tried to get a job in the police. Four of my friends were accepted but not me. Then my cousin and I tried to get a job as ordinary hotel workers. They took my cousin, but not me, because he was taller and more good-looking than me. Today he still works there, and I changed my life. I was the only of 24 candidates whose admission to KFC was not accepted. So, rejection is unpleasant, but unless we gain experience of defeat and failure, we won’t be able to achieve real success.

If you spend one hour a day reading various information in any area, then in a year you will know more about it than 99.9% of people around the world do.

Even the most successful businesses make mistakes. It is necessary to learn from them and draw appropriate conclusions. To be successful you should learn not from success stories, but from the mistakes of others.

Try to be involved in as many projects as possible. Master new areas, try to learn as much as possible. And if for some reason you cannot participate in various projects, you should pay attention to all kinds of volunteer programs and social initiatives in your city. Even though it will not bring you financial benefits, by joining such programs you will gain experience and get useful connections.

If you are 25-30 years old, then it is worth working for a prestigious company with a nice boss. You need to gain experience and learn how to do your job well. And if you are already over 30 and you want to do something on your own, just start doing it. After 40, you need to do what you do best, and not try to take on several things at a time. After 50 — teach young people, give them wise advice, educate and develop the young generation. And after 60, you can think about focusing on your grandchildren.

Women will be very strong in the 21st century because while in the past muscles were a measure of strength, today it is wisdom. If a person wants to achieve certain success, it is necessary to have a high EQ (a level of emotional intelligence). If you don’t want to fail and be on top of the game, a high IQ (an intelligence quotient) is required. And to have respect — a good LQ (a love quotient). These three «Qs» go together. Many men have high IQs, low EQs, and low LQs. Women, who have all three Q’s, are the best at work nowadays. In Alibaba 48% of the staff and 33% of top managers are women.