Richard Liu Qiangdong is one of China’s most successful entrepreneurs. He comes from a family of entrepreneurs. When he was growing up, his family owned small company on the shipping docks. His family was not as successful with their business endeavor as he is. His family was quite poor after all their business expenses were paid.
Qiangdong went into business straight from Renmin University in Beijing. His first endeavor, a restaurant failed miserably. He opened ‘Doors’ to JD.com in 2004. Selling online was not always the plan. He first would sell at brick-and-mortar stores. Richard Liu had about a dozen physical stores.
When the SARS epidemic came to China, he decided to let his staff go for their own safety. That same year he experimented with online selling. The numbers added up better than selling in physical stores. JD.com is one of the most successful businesses in China.
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