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Jack Ma latest speech

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2018-12-07
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Ma Yun, Guo Guangchang's latest speech: Winter on their own, only to get through the challenges of enterprises have antibodies

Jack Ma: Companies that have challenged have antibodies. 

At the annual meeting of the Zheshang Association, Ma Yun said that the future is full of uncertainty. Entrepreneurs may be the group that truly grasps uncertainty in the world, turning uncertainty into certainty. Many people do business, they make opportunities a disaster, disasters become opportunities. If you really see it clearly, you won't be pessimistic or optimistic, but you will find a solution. Complaints and evasion can't solve the problem. At the crisis, only companies that have challenged can have antibodies.

Lu Guanqiu, Feng Gensheng, Shen Aiqin and other older generations of Zheshang died in this year. When we say goodbye, we are thinking, what should our generation of Zhejiang businessmen inherit from them? I think that we are not inheriting assets, but inheriting and carrying forward the spirit of Zheshang’s ‘Dare to be the best in the world’, hard work and innovation.

He specifically mentioned the current development environment:

“The difficulties we have encountered today are in fact incomparable to the difficulties experienced by American companies in the past. Compared with the difficult environment that the Zheshang faced in the reform and opening up 40 years ago, it is much more fortunate today. In the next 40 years, we will find a new position in the new Sino-US relations in the transformation and upgrading of the domestic economy. This is a challenge, but also tests the responsibility of our Zhejiang merchants, and is also a self-upgrading iteration of Zheshang. For many years, Zheshang has done a good job not only because we will suffer, but because we will learn and we will cope with change. Because we know very well that only change can have our chance. Any change, when you use it as a disaster, it will become less and less pleasing to the eye. The more you look at it, the more interesting it is. At the time of the crisis, companies that can overcome difficulties and overcome challenges have antibodies. Always complaining that you have not met a good age, such a person can never encounter a better era.”

“After this round of baptism, the enterprises that can survive, the Zheshang who survived, are certainly not the former Zhejiang businessmen, and must be the future Zhejiang businessmen.” Today's social progress, businessmen can not have money to do, but to do something for others, to move from merchants to entrepreneurs, to the interests of the state, to the interests of society, to the future. Today's social progress, businessmen can not have money to do, but to do something for others, to move from merchants to entrepreneurs, to the interests of the state, to the interests of society, to the future. I believe that everyone believes in the future, sees the future, and has the future.” It is hoped that Zheshang will be known around the world for its family feelings, sense of responsibility and value orientation.

At the meeting, when talking about the “wind-mouth theory”, Ma Yun said that when a small company that has not been established for a few days, it has obtained several billions of dollars in valuation based on several stories and several employees, nothing, when it’s too small, we’ve entered the span period and we have to prepare in advance. When a company pledges 80% of its own assets and takes money to do something different from its own business, it is necessary to think that the problem has begun. Few companies can grow bigger and better, because many people always believe in “gambling” and always believe in all in.

Guo Guangchang: It's going to be very cold this winter. It's up to you to spend the winter.

This year is the 40th anniversary of reform and opening. In the past 40 years, our Zhejiang businessmen have relied on the spirit of "four thousand" to work hard and work tirelessly. It should be said that they have been going smoothly. In the past few years, although we have said every year that it is difficult and “every year is difficult to get through”, in fact, it is still “passing every year”. But this winter, I feel a little different. In particular, many entrepreneurs and friends have had problems this year, and they are not small businesses. Some companies are very good, even listed companies with a market value of tens of billions.

I was thinking, what happened? Professor Chen Long also gave a detailed account of the changes in the external environment. What about ourselves? Over the years, we have been saying that we have to change ourselves. How much have we changed? So my view of the current economy is: First, the economy will indeed be very difficult, and this winter will be very cold. Second, there must be a savior in the world, that is, the market; in the market, only you can save you.

Fortunately, the party and the state have clearly seen these problems and difficulties, and have also issued a series of policies and measures aimed at the development of private enterprises. Therefore, I judge that the situation in the future will be better. But whether you can spend this winter is fundamental to yourself. As ourselves, one thing that must be done now is to reflect and ask yourself. I think now we must seriously think about what we are experiencing. What have we done in the past five years?

The following four questions are the ones I have been asking myself for the past few years:

1. We have to ask ourselves how much time have we spent on our customers? How much time did you spend on getting to know your product? How much time did it take to improve product service?

Each chairman should first be the chief product experience officer of his company. Is the product good or not satisfied with customer satisfaction? We should be the best we know ourselves. But this understanding must not depend on your preferences and intuition, you need to spend more time to communicate with customers. In particular, the product sales are not good, there is a lot of competition in the market, you need to feel the product more carefully.

Now, the most time I spend is researching products. After this period of research, I basically think that there are two ways to make a good product: one is to do the platform, but the enterprise that can do the big platform like Ali and Tencent is a minority. The second is to spend more time figuring out how to make a good product.

But if you make a product, I must emphasize that we must be a boutique, we must be tempered, and we must create value for our customers.

2. We often have to ask ourselves, how much did we spend on research and development? How much time did you spend studying new business? How much time did you spend to feel new trends and directions?

I believe that everyone is now paying attention to the mobile Internet. But I want to ask: How many people in our manufacturing company really understand the mobile Internet? Is the mobile internet just selling on Taobao? Principal Ma has made Ali's Internet company so good, but he still spends a lot of time studying offline commercial and physical manufacturing.

Therefore, we must not stop learning because we have made achievements. We can only learn faster than others, and we can go better and farther than others. Now that customer needs are changing very fast, we are also entering an era in which technology research and development can be quickly transformed into results. In such an era, advances in technology, advances in industry, and advances in market logic are forcing us to continue learning.

On the other hand, we must pay attention to technology research and development and innovation. Many of our problematic companies, although their companies are already large, generally feel that most of the products they produce are homogenized, low-tech products, and they used to rely on low gross margins to continue to expand sales. But this era is changing too fast. It is very likely that what you produce is not a product, it is directly in stock. Therefore, it is especially necessary to use technological innovation to lead.

3. We have to ask ourselves how much energy have we spent on organizational upgrading and talent development? How much energy did we spend on introducing senior talent? How much energy did you spend on young people? Have we learned anything after 90s and 00s?

Organization and talent are definitely the core assets of a company. Because all things need to be done by the right people. And according to the development and changes of the market, our organization needs to be constantly upgraded, and the talents of the company must constantly change positions. We must absorb people who have high energy levels, are more in the state, and are more eager to succeed. Everyone has their own team, but how much energy do we spend on team upgrades?

Let me give you an example. Fosun’s wolves have played from the British crown to the Premier League this season. But I suddenly found out that although the British crown played well, but after the Premier League, it encountered a lot of problems. Why? Because the Premier League requires that the quality of our players is not the same as the British crown. No matter what happens to the Chinese economy, it is a long-term and difficult problem to solve. But no matter how it is solved, the Chinese economy is already participating in global competition. Objectively we are already playing the “World Cup”. At this time, your talents are still in their original state. Isn't it strange that there is no problem?

4. Finally, we have to ask ourselves: Are we willing to slow down and do something slow?

In the 40 years of reform and opening up, China’s speed has been talked about, and everything has developed very quickly. This makes us accustomed to being fast. For example, we saw that Ma’s principal has built a world-class giant company for more than a decade, and everyone wants to replicate his path of success.

But there is only one Ma Yun in the world. Everyone is like him. Is this world still worth it?

But there is only one Ma Yun in the world. Everyone is like him. Is this world still worth it? So you have to know what you should do, have you calmed down to do what you should do? Many of our companies, I have a feeling for the style of their work, that is, All in, is “gambling.” This “gambling” is not to say that going to the casino, but to say that doing business is very “gambling”. For the past 40 years, because the entire market is developing, you have a high probability of betting success. But you must not regard the economic situation as your own ability. If the market is not good, what will happen? All in will be cool, but after that?

I believe that we really have to sink our minds, do the right things, do the hard things, and do things that take time to accumulate.

Of course, after talking about so many difficulties and problems, I still have full confidence in the future: I firmly believe that China's marketization will certainly be higher and higher, and the business environment of our private enterprises will get better and better. Including, I believe, tax cuts will be made in the near future to reduce the cost of enterprises and stimulate the vitality of enterprises.

I firmly believe that Chinese entrepreneurs, especially Zheshang, are very hard-working. As long as we really increase innovation, our future will get more development.]

I firmly believe that we will definitely integrate into the world. For us, especially Zheshang, this is our important direction in the future. We are not afraid of Zheshang to compete globally. In an increasingly open and standardized market, in the integration of globalization, the global Zheshang will only get better and better.

It’s like Chinese soccer. For Chinese football to play in the World Cup, only let our players go global to play, in order to get real exercise, not just to get high salary in the Super League.

The above is the latest speech by Ma Yun and Guo Guangchang.

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