Before 2004, many customers around China were skeptical of e-commerce as an alternative way to buy items. Fortunately, Richard Liu Qiangdong has changed this view, by installing professionalism in this niche and more importantly, but ensuring that his company is customers-centered. Liu believes that the market still has a huge potential in replacing the traditional way of buying products.
As one of the most respected industry player, Richard Liu Qiangdong is the first executive in this space to reinvest a huge percentage of his company’s income to structural development. He believes that any company, especially in the new markets, have a responsibility of ensuring that its structures are at par with the global standards. In the last decade, he has invested in research, logistics, and his employees.
Another reason why Richard Liu Qiangdong is a successful investor and a market executive is his approach to partnerships. In all his interviews, Liu confesses that understanding that the investment world from a partnership point of view has assisted him in different ways, First, this approach has assisted him to source for funds and therefore avoid the conventional way of funding projects. Although he is still a believer in commercial funding options, finding partners that have the same dream is a game-changer.
Second, partnerships have assisted him in expanding his company’s capacity in the Asian market. Richard Liu Qiangdong understands that not all partners have the ability to fund projects financially. In the last eight years, he has worked with tech firms in different projects. While working with another company on the basis of partnership, Liu points out that the other company must have the same views on customer satisfaction and more importantly, industrial growth and efficiency.
Lastly, he is one of the people that believe in customer satisfaction, especially in terms of quality products. Richard Liu Qiangdong has not only invested in structures (of ensuring that all the activities in his company are consistent with the global distribution standards), but he has also regained control of the distribution processes. In the last three years, his company has put mechanisms that enable them to test the quality of goods sold to clients and market commentators believe that this is unmatched precedence.
Contact Liu Qiangdong: re.jd.com/liu-qiangdong-jd-ceo-about