At the time when the survival rate of a startup was 20% out of 100%, rest 80% lost due to lack of focus within few coming months but one of best-known brand survived and has become ideal for all eCommerce Startups working today, yes talking about “Alibaba” here, founded by Jack Ma. Jack Ma was attending the Bali Festival in Indonesia when he was asked to share his success and how he fought with the time when his venture was a startup.
Jack Ma Says “Don’t think you will succeed next year, prepare for 10 years”
Pointing out the Alibaba from the time he started and where it is now. It means being a Business Owner you must be confident, optimistic & focused in all what you are doing & planning to do. He said they don’t have people & knowledge to do all at once perfectly, they learned by the time and left no stone unturned in making it possible.
I really take his word seriously, today maximum number of people want their Business Up & Running so quick, even sometime the goal couldn’t be the same anymore (It could be good or bad.) as they had in mind at the time of stating. Business is a journey which takes time, so packs your bag & equipped well to go through every milestone of it to reach the destination you have in mind and remind yourself time to time that what is your destination to keep yourself focused.
Jack Ma Says “I keep asking these 3 questions to myself, What do you have? What do you want? & What will you give up?.” Each word delivered by him has a deep meaning; like “Keep asking” this is not something which you need to do once or twice rather it should be continued as there is a long way to go.
What do you have?
Being a Business you must have 5Ms (Man, Machine, Material, Money & Methods) which will be your inputs that process managerial process to takeout outputs from it which is your end goal/profit. “What do you have?” is a simple question which will let you know where you are standing right now and what capabilities & resources you have.
What do you want?
Having resources & capabilities help you to define what can be done with all you have. Asking “What do you want? ” helps in setting out the goals for future where you see your business to reach with resources & capabilities you have.
What will you give up?
Life is all about giving & take; you don’t get anything without sacrificing something for it. In Business everything has a value (Time & Money) which you should count on the basis what you will invest & what you will get from the investment, No matter it is Money, Man, Machine, Material, Methods; everything has a value which can be balanced.