Five Minutes With Jack Ma

One of China’s most prominent entrepreneurs, Jack Ma is the lead founder, CEO and Chairman of the Alibaba Group, comprised of B2B giant Alibaba, online retailer Taobao and Yahoo! China. Recently he was kind enough to take a moment out of his hectic travel schedule to speak with TALK.

You have been so successful. Can you let us in on your secret?

I am a dreamer and I never give up hope. Once I realised the internet might be a powerful tool for small and medium enterprises in China and abroad, I whole-heartedly pursued my dream of setting up an e-commerce company. In 1999, I gathered 18 people in my apartment and spoke to them for two hours about my vision. Everyone put their money on the table and that got us USD 60,000 to start Alibaba. I don't want to be recognised as a successful businessman. I believe that if I can be successful then 80 per cent of young people around the world can be successful also. I am just a normal guy. If you work hard, if you learn quickly, then you have the same chance.

How does it feel to be picked as one of Time Magazine’s 100 Most Influential People in the World?

It was a great honour, but in my mind it was an honour accepted on behalf of the millions of people who are pursuing their own dreams of entrepreneurship and business success via Alibaba’s e-commerce platforms. My priority is to help influence people to drive the development of China and the world.

Can you share some influential wisdom with us right now?

Believe in your dream and believe in yourself. Do it because you want to do it and not because other people want you to do it. Never give up your dream. I remember in 2000, I said if there are nine rabbits on the ground and you want to catch one, just focus on one. Change your tactics if you need to, but don't change the rabbit you’re focused on. There are so many opportunities out there that you cannot catch them all. Get one first, put it in your pocket and then catch another.

You are a leading advocate in the fight against the consumption of shark fins, going as far as banning their sale on your websites. Why is this issue important to you?

Honestly speaking, I had never thought about the harm of eating shark fin until I met some activists who had approached us about the issue. Once I learned more, I made a promise to never eat shark fin soup again. I’ve also become more involved in thinking about our environment and what businesses can do to help influence positive changes. The actual decision to ban shark fins was made by our team. The young people in our company sat down and discussed it amongst themselves. They came to their own conclusion and said, "Let's take down this thing." It shows the transformative power that education and discussion can have on individuals and groups.

You've made corporate social responsibility a central value in your group’s business model. In real world terms, what does this mean?

This is something we believe in. It is a way of thinking and a part of my philosophy. The key to success for corporate social responsibility, so to speak, is to incorporate social aspects into our business model to ensure effectiveness and sustainability. As we’ve grown and become more successful, we have felt a great need to do something good for society. In this decade, we will step up efforts in contributing to the well-being of our small business customers and consumers. For example, we will open up our massive databank to everyone in the value chain, as we believe sharing and transparency will drive social improvement. We will also do more to protect the environment. We have recently announced that the entire Alibaba Group will earmark 0.3 per cent of annual revenues to fund efforts designed to clean water and improve air quality. This is our commitment to society. The most fun part of business, at least to me, is to contribute to the future. It's not just about making money – it's about making healthy money, enabling people to enjoy their lives. Alibaba Group is founded by society, developed by society, so we must serve society in return.

Do you ever get a moment to rest? What do you enjoy doing?

When I have time on the road, I like going for a short walk to explore the neighbourhood wherever I am and to get a flavour for how the local market is, how the people are. When I am at home [in Hangzhou], I like to visit West Lake. I also enjoy walking my dogs.