Liu Qiangdong – Making of the Chinese Online Retail Tycoon

Liu, born in 1974, had pursued his degree in sociology from the prestigious Renmin University in the year 1994. At the same time, he began learning computer programming, which was then an emerging domain. Liu’s entrepreneurial nature prompted him to try his luck at a restaurant business during his course-period in 1995. However, luck did not favor him in his maiden initiative. His restaurant soon ran into bankruptcy owing to foul play by the restaurant staff, who embezzled the restaurant’s funds. This left the disheartened Liu in a pile of debt.

After this bitter experience, Liu put his entrepreneurial plans on hold and took up a job in a company called Japan Life , which proved to be a successful spell. Working with Japan Life taught Liu about organizational structure and how an organization should be run. During his two-year stint with Japan Life, Liu realized that it was his lack of exposure to organizational structures and his negligence that had resulted in his restaurant business doing so poorly. Lack of plans, systems, and management structures had led to the failure. ....