Richard Liu first ventured into the restaurant business, and it was an epic fail. Richard Liu Qiangdong immediately ventured into selling health products and computer parts. All this was happening in 1998 when he chose to open his retail shop in Beijing. He was doing so well until his businesses were hit hard by the SARS epidemic.
However, Liu Qiangdong did not allow the outbreak to stop him from doing business. Instead of keeping his physical retail shops, Richard Liu decided to do his business online. All this happened in 2004.
Richard did not know that this was where his breakthrough had been all along. His business took such a great turn that in 2016, the proceeds made from the sale of electronic goods brought a return on investment of $37 billion. While there were seasons that Richard Liu’s company incurred losses, it still floated on NASDAQ in 2014. Since its inception, JD.com has managed over $44 billion in market capitalization.
Liu is not only known for his massive wealth. He has an aggressive personality that makes him want to keep pushing, regardless of the hurdles that come in the way. Qiangdong’s presence is of great importance, especially for forums such as JD.com’s board. He has become a great sensation in China, greatly admired all over the internet.
If you wonder where Liu got the aggressive attitude that has made him so successful today, here is the story. When Richard Liu was little, he remained with his maternal grandmother while his parents went to work. As Liu took care of his grandmother, she gave him the best advice he leveraged when he grew up. She told him that it did not matter how much he had. What was important was making the best use of what was available to him and making a big difference. See this page for more information.
More about Richard Liu on https://re.jd.com/richard-liu-jd-ceo-about