What Jack Ma taught Filipinos about Dreams, Success and the Internet

By Go Negosyo, October 26th, 2017
Alibaba Group Founder & Executive Chairman Jack Ma.
Alibaba Group Founder & Executive Chairman Jack Ma.
No entrepreneur from this side of the globe has had as much of an influence in the minds and hearts of the world as Alibaba founder and global business icon, Jack Ma.
After an awarding ceremony by the De La Salle University, wherein Ma received an honorary Doctor of Science degree on Technopreneurship, Ma immediately engaged in a moderated forum with a room full of students and select entrepreneurs from the country.
Charismatic as always, Jack Ma didn’t hold back on imparting sage advice and insights that left many who witnessed the event either live or online, inspired. Ma’s storied journey of fighting tooth and nail for his dream and becoming one of the richest and most influential in the world today is one that every Filipino looks up to.
Growing up in China, Ma shared to the students that, many times in his life, he failed at what he wanted. He failed many times in school, and failed to get into the universities he targeted (he applied and got rejected from Harvard 10 times!), and even got rejected when he applied to work in KFC. He also didn’t know what he wanted to do after college—something a lot of students could resonate with. But Ma deeply encouraged the students to go for their dreams.
Jack Ma shared his insights on Money, Market, and Mentorship during the segment moderated by PA Joey Concepcion.
Jack Ma shared his insights on Money, Market, and Mentorship during the segment moderated by PA Joey Concepcion.
“Be simple. Stay foolish with your dreams, and no matter what, keep running,” Ma said. Many Filipinos today feel as though the dreams they want to achieve are too unrealistic or impossible in the current climate of our society. However, Ma teaches Filipinos that dreams are meant to be shared, not be selfishly pursued—contrary to the Filipino ‘crab mentality.’
“If it is your dream, you can never go that far. But if it’s a group’s dream, you can go much further.”
However, beyond dreaming, Jack Ma insists that one must be willing to put in the work, sacrifice and patience.
“When you have a dream, you have to think of the bad side of the dream very clearly. Think of what you will give up,” Ma said. He added “if you think it’s about three years you need to be successful, prepare for about 10 years. If you think you have about five years to succeed, prepare for 15 years. And if you think you need 10 years, you might succeed in eight years. You should have a long preparation, determination.”
In a world of instant-everything, there is truly one thing people shouldn’t take shortcuts with—working towards their goals. Ma posited that there are truly many different reasons why people succeed, but people fail for many of the same reasons. So, we Filipinos must always becomes students of life. “The priority whether you want to study or work is the same: learning,” Ma said, “A lot of people leave school then go do business. They say Bill Gates succeeded. There is only one Bill Gates. Don’t do that.”
So, what how do we succeed?
Ma believe that it takes a great combination of three quotients— EQ (emotional), IQ (intelligence) and LQ (love). “If you want to be successful, you have to have great EQ. No matter how smart you are, if you never know how to with people you will never succeed.”
However, beyond mere personal matters, Ma also exposed a lot of our societal woes. Ma said that the Philippines’ internet is “no good” and called on both the public and private sector to change this. He insists on this as he sees the internet as the gateway to solving important problems when it comes to access to money in the country—an integral part of poverty alleviation. “Philippines has the opportunity to make the world’s best fintech in the world, because you have so many mobile phones, more than 7,000 islands. We should make Philippines a cashless society. When you have a cashless society, there is no corruption. Life is easier.”
Lastly, Ma wants those who are afraid of technology and the changes it brings, specifically to traditional business owners, to adapt and change. Technology aims to make everything more accessible to everyone, and if traditional business owners don’t keep up, they will risk being left behind. And to those who are already investing in technology, don’t just go into it because it seems important, have a reason behind it. After all, in the words of Ma, “Its not the technology that changes the world, its the dream behind technology that does”