5 Lessons about POOR People from Jack Ma

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SELF-Made Billionaire Jack Ma, the CEO of Alibaba is one of the world’s richest men, but he has not let success cloud his vision. In fact, it takes a rare person to accumulate a total net worth over $20 billion through devoted work ethics, while maintaining a sense of perspective. Jack Ma’s values attitude, and believes that is the key to success for everyone from small business owners to aspiring billionaires. Recently, he made a controversial statement about the plight poor people, and how their lack of success is mainly due to their poor attitude. Do you agree? Let’s break down his comments and find a solution:

In this statement, Jack Ma said:

1. “The worst people to serve are the Poor people. Give them free, they think it’s a trap. Tell them it’s a small investment, they’ll say can’t earn much. Tell them to come in big, they’ll say no money. Tell them try new things, they’ll say no experience.

LESSON: Save to invest, don’t save to save —  Many poor people do not invest because they think it is complicated, but it is  not as complicated or daunting as they make it out to be.  In today’s economic environment you cannot save your way to millionaire status. The first step is to focus on increasing your income in increments and repeating that. Earning more money is often easier said than done, but there are options if you really look for it. The most important thing is learning to invest in yourself and your future. Read at least 30 minutes a day, listen to relevant podcasts, seek out mentors, and put your pursuit of learning above all else.

2. “Tell them it’s traditional business, they’ll say hard to do. Tell them it’s a new business model, they’ll say it’s MLM. Tell them to run a shop, they’ll say no freedom. Tell them run new business, they’ll say no expertise.”

LESSON:  Know when to take the right risks — and act on them. The real question is, ‘Is this worth buying, investing in, or pursuing? To be successful you’ll have to take major leaps in your life, sometimes not even knowing where it will lead. Taking risks requires much faith in yourself and others, but it must be done. Faith is knowing that what you want will eventually happen as long as you believe it. You can’t get rich with low expectations — the wealthiest, most successful people think big and play to win.

3. “They do have somethings in common: They love to ask google, listen to friends who are as hopeless as them, they think more than an university professor and do less than a blind man. Just ask them, what can they do. They won’t be able to answer you.”

LESSON: Master soft skills and cooperate with others —  Building a fortune takes people skills and charm just as much as it does strategy. Many poor people lose their big opportunities in life because of this fault. That being said, there is a fine line between cooperating with others and being a pushover, and one must also learn to be assertive when dealing with people.

 4. “My conclusion: Instead of your heart beats faster, why not you just act faster a bit; instead of just thinking about it, why not do something about it. 

LESSON: Be tenacious —  Like all great leaders, Ma recognizes that a person is able to learn the most from obstacles and hardships. According to him, “giving up is the greatest failure.” If you go out, try your best and fail to achieve your goal but see it through to the end you are a success.  They key to success is persevering and learning from your mistakes.

5. “Poor people fail because on one common behaviour: Their Whole Life is About Waiting.”

LESSON: Be decisive to avoid decision fatigue — Attention is a finite daily resource and can be a bottleneck on productivity. Conserve your mental power by making easily reversible decisions as quickly as possible, and aggressively planning recurring actions so you can execute simple tasks on autopilot. It’s time to show up!

 

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One thought on “5 Lessons about POOR People from Jack Ma

  • May 10, 2016 at 3:12 am
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    In my opinion Jack Ma is correct because he is successful. But just pause and think: how many people failed with 1 successful Jack Ma.

    Reply

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5 Lessons about POOR People from Jack Ma

by wmd time to read: 3 min
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