Article Title: Richard Liu Qiangdong Views On Brick-And-Mortar Businesses

Article Text:

Richard Liu Qiangdong is synonymous with his consistency in the world of business. He is one of the few business people in Asia and around the world to grow constantly — from a simple business structure to a multi-billion company. In a recent conversation with an America business journal, Liu pointed out that, his journey represents his determinations, passion and his abilities to make business partners.

When Liu was starting in business, he was like many physical businesses in China. JD.com had an average income, and he did not have employees. However, challenges gave him a chance to change. Richard Liu Qiangdong points out that early 2000 was supposed to be his end in his business journey. However, he was able to reinvent and change his business model. One of the most significant changes was making his business an online business entity as opposed to a physical store. Although this is still one of the best decisions in his business life, it came with its share of challenges.

One of the challenges was financial. Richard Liu Qiangdong confesses that finding the ideal people to fund his business was a challenge. However, the challenge taught him the art of making better deals and more importantly — working with other entities. WeChat was one of his first entities to work with as funding partners. Since then, he has brought more people into the company as funding partners. Liu points out that business partners are keen to know what they will get from a deal. In his case, giving partners a chance to won company’s dream was the best option — since commercial debts are complicated and can fetch a considerable amount of interests.

When the company was stable, Liu started giving people a chance to work with the company — from a partnership point of view. One of his biggest project outside JD.com management is assisting small business to grow. In 2017, he started a journey with a small business in China. In this journey, Richard Liu Qiangdong gives the small business a chance to work with JD.com by listing their goods on this platform. The opportunity to use the company’s structures and reach millions of customers on this platform has given these small companies a chance to grow and expand.

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