Richard Liu Qiangdong Discloses How He Established JD.Com

Jingdong, famously known as JD.com is ranked among the world’s leading e-commerce stores. The China-based store is well known for it’s zero tolerance to fake products, user-friendly shopping platform, as well as its quick logistic services. It serves millions of customers in China, Thailand, France, Europe, the UK, Indonesia, and the US.

But, how did the online store develop to its present day position? According to a video interview posted on the World Economic Forum, Richard Liu Qiangdong revealed that Jingdong started as a computer accessory shop in 1998.

Mr. Liu Qiangdong had just completed his sociology studies when he opened the computer shop. He pursued his studies at the People’s University of China.

Primarily, Liu established the shop to raise capital that would cater to his grandmother’s medical bills. In just five years, Richard Liu Qiangdong opened 12 new computer accessory shops in different locations.

In 2004, Richard Liu Qiangdong decided to close down his brick and mortar computer shops since China was going through a SARS outbreak, and people were advised to remain indoors.

He used the opportunity to launch JD.com, an e-commerce store that gave people the freedom to shop while indoors.

According to the World Economic Forum’s video interview, Richard Liu Qiangdong used three primary strategies to grow his e-commerce store.

First, JD.com supplied original products to its customers. This strategy helped JD.com to outwit its competitors who provided fake products.

Secondly, Richard Liu Qiangdong made sure that his customers received their orders in the same or next day after placing their orders. To date, JD.com has held the reputation of quick logistic services. In fact, 90% of customers receive their merchandise on the same day they make an order.

Thirdly, Richard Liu Qiangdong’s online store supplied almost all consumer products. It sold fresh farm produce, furniture, home appliances, books, clothes, processed foodstuffs, beauty products, and other consumer products.

For details: www.businessoffashion.com/community/people/richard-liu

Bhanu Choudhrie, Skill Set As An Entrepreneur Strategist

It was an exciting time for self-made millionaire Bhanu Choudhrie in 2008 selected as Entrepreneur of the Year, by the Asian Voice Political and Public Life Awards. The awards highlight notable achievements by Asians in public and private industries. It should come as no surprise to those closest to him, because he was already interested in business, at an early age. He took his interest and expanded it further, graduating from the University of Boston with a degree in International Business and Marketing. From there the New Delhi born Choudhrie set his sights on London. He made London his home for both residential purposes and business endeavors. His finest achievements have come in real estate and hospitality, with an investment portfolio which includes luxury spa hotels in India and East Africa and a series of health care based homes, throughout the UK. Check out this link indiatimes.com

Beginning in 2001, Bhanu Choudhrie began investing in multiple businesses as the Executive Director of C&C Alpha Group. Having acquired a number of prized properties, Choudhrie spoke about his decision to become a London-based entrepreneur. He attributed the choice to a college internship that he competed as an undergraduate. Bhanu Choudhrie went on to praise the potential for business growth and development opportunities that didn’t emerge in the US.

After investing in many industries, Bhanu was quite candid about the success that the family owned and operated business, C&C Alpha Group has achieved. He reflected on the great outcomes for the restaurant business, as well as the other areas that include aviation, real estate, travel, and the healthcare industry. Bhanu Choudhrie did add that business success often has some risks involved. But he saw risks as something worth taking because even the entrepreneur business failed, it was an experience to learn something new. An example being the airline industry in India, Bhanu Choudhrie could have failed, due to a lack of interest, although supported by an economic boom in aviation. Most were comfortable with taking the train. Cautiously, he went ahead with the acquisition but added that “on average, for every five investments, three end in failure.”

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