China’s richest person, with an estimated net worth of $34 billion, attended the 2018 Annual Meetings of the International Monetary Fund and the World Bank Group, in Bali Indonesia to give his insights, on the future of business. The founder of Alibaba gave his philosophies as a successful entrepreneur. He focused on the importance of entrepreneurs and education. “It’s not the government that makes the business happen. It’s the entrepreneurs that have the ideas and dreams. So helping them, empower them, these are the two. And of course the third is education,” he told the attendees at the event.
Jack Ma went onto tell the packed conference hall in Bali the three questions he asks himself if he wants to stay focused, reports CNBC News.
“Whether young people, old people, ask three questions,” Jack Ma said. “I keep asking myself these three questions.”
“What do you have?
“What do you want?
“What will you give up?”
It’s these three questions that he repeatedly asks himself. He constantly reevaluates these three questions to see if he’s making progress.
“Many people usually fail to ask themselves what they are willing to give up because they tend to think they don’t have much to start with,” Ma said.
Jack Ma stressed the importance of making sacrifices and that to be successful, one must sacrifice for the long-term and know it.
Those are the key factors he attributes to the success of Alibaba. When he started the company he noted he didn’t have much, but what he had was a belief that one day in the future he will succeed. “…by working hard, believe in the future, believe in the vision day after day to improve ourselves,” Jack Ma said.
Jack Ma told the crowd that times will get rough and that you might believe that you have failed. But he said that those three questions will guide you to success. “Always think about these questions, and then you’ll be fearless, you’ll be optimistic, you know what you want. When you’re going on that, you’ll never get lost,” Ma said.
These three questions will be interesting once he steps down as CEO of Alibaba and moves onto full-time philanthropy.