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Having been turned down at thirty American universities, he has become the richest man in China, thanks to e-commerce

He is Jack Ma, gentlemen, a man who did not know the meaning of despair as he applied to 30 American universities, but he was rejected. He applied for a job in the famous KFC restaurant and he was among 30 applicants. 29 people were accepted and one person was rejected and he is not enrolled in a university It was described as the worst university in his town, then he graduated from it and worked as a teacher of English with a salary ranging between 12 to 15 dollars. Now, do you wonder how this great change in his life happened? Or what is the way he followed until he reached what he is now?! – All thanks to e-commerce.

After his travel to the USA, Jack noticed that platforms for selling Chinese products did not spread on the Internet, so he thought that he would establish an e-commerce platform to sell Chinese products to owners of companies and merchants in the United States and European countries. He called this platform “Alibaba” and now you may wonder what e-commerce is How can such a field change a person’s life this way?

Online shopping E-commerce

E-commerce is any business that can be completed on the Internet, whether this activity is physical such as buying and selling products or ethically such as selling digital services or conducting banking transactions.

What are the types of e-commerce

Jack Ma used two business models in e-commerce to build the grand “Alibaba” edifice and control the world of e-commerce inside and outside China

B2B e-commerce

B2B” Business-to-business: This type of e-commerce aims to sell products and services between companies and some of them or between companies and distributors. This type of electronic commerce was the basic nucleus in building a wealth of Jack Ma through the establishment of the “Alibaba” platform Through which he initiated the spread of Chinese products to suppliers and companies and became the first platform for suppliers around the world.

B2C e-commerce

“B2C” Business-to-consumer: This type of e-commerce aims to sell products and services between companies and customers directly, and this type is one of the most profitable and easy types. Jack considered what a great investment opportunity to expand by selling products to consumers directly so He created the AliExpress platform and is now one of the largest online consumer direct selling platforms such as Amazon and eBay.

Conclusion:

At the annual shareholders meeting in May 2009, this meeting, which was attended by contributors, clients and students from Hong Kong universities, Jack Ma advised young people to take matters into their own hands and move to launch their own projects in order to deal with the economic downturn instead of waiting for government or private jobs. Today, after more than a decade ago, we see famous brands like ZARA and BERSHKA close their branches and go online for sale entirely due to the Corona virus. Now is the time to turn your business online to obtain many advantages.

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