Jack Ma ( 马云) back in 1999 was a young entrepreneur, who started his business in a small apartment. Now he is a business magnate and philanthropist. He is the founder and executive chairman of Alibaba Group, a family of highly successful Internet-based businesses.
Jack Ma is the first mainland Chinese entrepreneur to appear on the cover of Forbes. He is the richest man in China and 18th richest person in the world, with an estimated net worth of $22.5 billion.
On a television show broadcast in May by South Korea’s KBS, Jack Ma spoke to young and eager South Koreans about how to be successful in life, as well as the regrets he faced.
According to Jack Ma, there is a timeline that we must all face in our lives; it starts from the time we turn 20, and lasts all the way till our 60s.
Before you are 20 years old: Focus on your studies and don’t be afraid of falling down. He says “Be a good student. Make enough mistakes… Any mistake is a wonderful revenue for you. When you are entering into entrepreneurship get a little experience… You fall down many times, stand up. Don’t worry. Enjoy the show.”
Between 20-30: Prefer joining small company over big ones. Small companies give more chances of learning. ”Be part of a small company. At big companies you learn processing, you are a part of big machine. At small company you learn the passion, you learn the dreams, you learn how to do lots of things at one time”, says Jack Ma.
Before 30 years: Being a young entrepreneur, you have to choose a good boss; one who gives you more chances of exploiting your talent. “It is not which company you go, it’s which boss you follow. It is very important. A good boss teaches you differently”
Between 30-40: He says, “You have to think very clearly what you are working for yourself.” During this decade you have to work by keeping in mind your own business so that you get to know which field is the best for you to work for.
Between 40-50: Do what you have experienced till 40 years. You must now be exactly aware of what you are good at. Avoid experimenting and trying new things at this time of life. “You have to do all things you are good at. Don’t jump into a new area. It may be too late. You may be successful but the rate of dying is too big.”
Between 50-60: It’s time for you to teach the future young entrepreneurs and help them excel in the field. “Work for the young people because young people can do better than you. Rely on them; invest on them making sure they turn good”
Over 60 years old: It’s the time to relax and stay away from worries related to career. Jack Ma says, “Spend time for yourself. Go to the beach… and… relax”