Alibaba’s World Book Summary - Alibaba’s World Book explained in key points

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Alibaba’s World summary

Name: Alibaba’s World
Rating: 3.8 (34 reviews)
Author: Porter Erisman

Porter Erisman

How a Remarkable Chinese Company Is Changing the Face of Global Business

3.8 (34 ratings)

15 mins

Table of Contents

Alibaba’s World
summarized in 7 key ideas

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Key idea 1 of 7

What’s in it for me? Learn about Alibaba – and how to discover the hidden treasure of successful business.

Simply shouting “Open sesame!” won’t gain you access to the land of successful business. But the gates can be opened – and can be kept that way. Why not take a few tips from someone with some less familiar magic words?

In these blinks, the author introduces valuable insights furnished by the true story of the Chinese e-commerce company, Alibaba. He tells how its founder, Jack Ma, launched his ideas, gaining traction for Alibaba in a market that hardly existed, and how the company eventually became the largest of its kind in China.

In these blinks, you’ll discover

which dirty tricks Yahoo! deployed in the name of competition;
how offering a service for free can kick-start an economically sustainable business; and
why being an enthusiastic, entrepreneurial person is more important than being the brightest boy in class.

When starting a business, reach for the sky.

Entrepreneurship is easier today than ever before. You don’t need a million dollars to get started; all you need is a great idea and some free time. And yet, the world is full of people too afraid to take those first steps.

Overcoming difficulties in your life is only possible if you put in serious effort instead of sitting around complaining. Starting a business is no different.

So then why isn’t everyone an entrepreneur? Many people think it’s too hard. After all, most industries already have a big player, and even if you trust yourself enough to compete with giants such as eBay or Google, there are still many legal and social hurdles to overcome.

Every entrepreneur faces these problems. The only way to succeed is to try.

When Jack Ma started Alibaba in 1999, only one percent of the Chinese population used the internet. And those who did use it could hardly imagine buying anything online. People had enough trust issues when their business partner was standing right in front of them! Online buying was out of the question.

And yet, in the course of 15 short years, Alibaba overcame international competitors and social mistrust, and it now dominates 80 percent of China’s e-commerce market.

Hearing a success story like Alibaba’s might cause you to start doubting yourself. “What can I do that’s so special?” you might ask. Well, you don’t have to be as smart as Einstein to start a business that will one day become successful. In fact, success has more to do with brio than brains.

Before starting Alibaba, Jack Ma was an English teacher earning $20 per month. He sometimes jokes that Alibaba is so successful precisely because he doesn’t really know anything about computers. It wasn’t his computer genius that made him so successful, but his entrepreneurial spirit.

If you want a successful business, build a sustainable company.

Starting a company is easy these days; having it go under is easier. But it needn’t be that way. Unfortunately, many entrepreneurs set short-term goals and either go out of business or look for a quick exit that will make them millionaires.

If you want a successful company, however, it needs to be designed to last, not just to get through the season.

Build your business around the wishes of your customers.

A successful business is one that has found a way to win customers’ hearts. But how do you do this?

Start by finding an important customer insight to build upon.

Successful entrepreneurs turn hardships into advantages.

Every business will face difficulties along the way, but such inevitabilities shouldn’t discourage you from trying. In fact, you can actually turn the barriers that stand in your way into advantages!

A limited market, for example, could also be considered a great opportunity for development.

Competition is your best friend, not your worst enemy.

If your business is the first on the market, will it always stay that way? Probably not. Once they catch wind of the opportunity you’ve created, others are likely to follow.

Staying ahead of the competition starts by differentiating yourself from them. Young businesses often fall into the trap of copying someone they admire, forgetting that true success only comes when you become more than someone else’s shadow.

Be a bold, confident and inspiring leader.

As your business grows larger, the difficulties it faces will only increase in number. As the leader of the company, it’s therefore important for you to be strong enough to inspire others to endure the hard times and thrive during the good.

In part, this will require an ability to make bold decisions. As an employee, taking the path of least resistance may be the smartest thing you can do; for leaders and entrepreneurs, however, things are different .

A strong company needs a strong team.

A business is only as good as its staff. Though company leaders play a critical role in the organization’s development, they can’t do everything alone. They have to build a strong team. But how?

When hiring people for a new business, try to avoid becoming seduced by prestigious college diplomas and fancy resumes. It’s more important that the team works well together. After all, a business is a group effort; it won’t work if everyone is doing their own thing – no matter how skilled they are.

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What is Alibaba’s World about?

Alibaba’s World (2015) tells the story of Chinese e-commerce company Alibaba, which was founded in 1999. Alibaba’s World offers valuable insights into leadership and business acumen that can help you put your company on the path to success.

Best quote from Alibaba’s World

Fact: Alibaba went public in September, 2014, with the largest IPO in history.

—Porter Erisman

Who should read Alibaba’s World?

Entrepreneurs
Anyone thinking about starting a business
Struggling business owners

About the Author

Porter Erisman is the former Vice President of Alibaba. Having worked there from its early days until 2008, he has witnessed the company’s ups and downs, and is one of the few Westerners involved in the business.

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