As companies throughout the world look for ways to use the latest technology and innovative ideas to make themselves better, perhaps no businessman has been a better example of this than Richard Liu. As the founder of Chinese retail giant JD and JD.com, he has not only become arguably China’s most influential entrepreneur, but has also led by example as to how one person with a vision for success can transform a nation and an industry.
Born into a life that was anything but privileged, Liu Quingdong learned early on what it meant to have others believe in a person and their dreams. Despite coming from a family and village that had few financial resources, Richard Liu was able to attend college thanks to the generosity of his village. In donating 76 eggs and 500 yuan to send him off to college, he learned a lesson in giving and helping others that has stayed with him throughout his life.
Once finished with college and finding success in the business world, Richard Liu chose to give back to his alma mater and community. By doing so, he hoped he too could not only inspire another young person to follow their dream, but perhaps provide the resources necessary for that dream to become a reality. As Richard Liu started his career in business by opening a small computer accessories store in Beijing, it became clear to him just how many opportunities for business success existed in China. Through hard work, dedication to learning as much as possible about owning a business, and committing to excellence in customer service, he was able to eventually open up a chain of 12 brick-and-mortar stores.
However, as success was beginning to happen at a fast pace, the SARS epidemic began to spread throughout Beijing and other parts of China. As a result, Richard Liu was forced to close his stores. Finding himself at a crossroads both personally and professionally, he chose not to give up, but instead use what he had learned to begin anew. With his interest in computer programming, sociology, and politics, he saw opportunities for businesses that were willing to establish a presence on the internet. Thus, his brick-and-mortar stores were reborn as JD.com, offering more and more items to Chinese consumers.
As his online business became more and more successful, Liu Quingdong saw numerous opportunities for expansion. Ultimately becoming China’s largest online retailer, JD also found itself catching the interest of some of the world’s best-known corporations, including Walmart. After negotiating with the Arkansas-based retail giant, Richard Liu reached a deal that would benefit both companies. In exchange for JD buying Walmart’s online operations in China, Walmart in return agreed to help JD.com by investing over $500 million in a delivery program using state-of-the-art motorbikes.
With efficiency and customer service always being a top priority for Richard Liu, the results have been outstanding in terms of item delivery times. According to the latest company statistics, any JD orders for Beijing can be fulfilled in a mere three hours, something that only a few years ago seemed unthinkable. In fact, Richard Liu states that almost 58 percent of the company’s orders for anywhere in China can be fulfilled in six hours, and virtually all orders sent to the company can be fulfilled in no more than 10 hours. As for orders outside of China, such as to cities within the United States, Richard states these orders can commonly be fulfilled in less than two weeks.
Forging ahead with bigger and better plans for expansion, Liu Quingdong expects to see even greater results for his company and its customers.
