Self-Made Billionaire Jack Ma’s 1 Rare Skill To Succeed
Who doesn’t know Jack Ma — one of the richest men in the world? Started with his humble steps towards entrepreneurial success, this billionaire business magnate and Alibaba CEO has also touched and inspired many lives, especially those who wish to succeed in putting up a business.
Though he values a lot of things to attain one’s success goals, there is this one big thing that he tells everyone to never miss out: LQ!
LQ? Yes, it’s a thing and it has a formidable spokesperson in Alibaba Group founder and chairman Jack Ma: “If you want to be respected, you need LQ,” the leader of the Chinese internet giant said at a recent Bloomberg Global Business Forum in New York.
“And what is LQ? The quotient of love, which machines never have,” said Ma.
Good leaders generally develop different kinds of intelligence. There’s old-fashioned IQ of course, their intelligence quotient. There’s EQ, the quotient related to emotional intelligence; this concept turned fashionable in management circles within the last few years. And then there is what Jack Ma calls “LQ.”
He believes, no matter how smart machines are becoming, the world’s biggest and most pressing problems won’t be solved by machines, but by smart humans with the capacity for compassion, understanding and, of course, love. To Ma, this is the human’s secret weapon that will outthink machines and drive progress.
“A machine does not have a heart, [a] machine does not have a soul, and [a] machine does not have a belief. The human being has the soul, has the belief, has the value; we are creative, we are showing that we can control the machines,” he added while speaking about the need to pursue a globalization that is humane.
Alibaba founder Jack Ma says to be a successful leader you need EQ, IQ, and LQ.
Introducing LQ to an audience at a South China Morning Post conference in Hong Kong on December, 2016, Ma challenged Chinese corporate leaders to “go beyond tapping a high IQ and even a high emotional quotient (EQ)” when dealing with conflict, rivals, and resistance in foreign markets.
Conflict avoidance is a hallmark of Chinese companies for cultural reasons, so Ma didn’t mince words about breaking old habits to break into new markets.
“We’re afraid of confrontation. So, when it comes to a vital moment, we back out,” Ma said. “In a business, when you’re growing up, you’re always in a conflict. Progress is how to solve problems in a conflict situation.”
He explained a high LQ is the supreme method for adapting to a new and noble way of doing business.
“You can become a money machine, but what’s the use of that?” said Ma. “If you’re not contributing to the rest of the world, there’s no LQ … Your love is you have to be principled. That’s the bottom line.”
Ma says that even if one possesses high IQ and high EQ but lack the LQ, “you will not be respected.” He adds, “Respect the future, respect the young people.”
More from this multi-millionaire business icon Jack Ma:
On Making Friends, Not Enemies
One of the unique aspects of Jack Ma’s business philosophy is the idea of friendly competition. Ma does not see his competitors as his enemies, rather they are friends whom he can learn from and who challenge him to achieve his full potential.
It is clear that Jack Ma’s philosophy is built for success in a rapidly developing world. We can all learn a thing or two from this self-made billionaire.
On Living and Loving Life
“I always tell myself that we are born here not to work, but to enjoy life. We are here to make things better for one another, and not to work. If you are spending your whole life working, you will certainly regret it.” This sentiment lies at the heart of Jack Ma’s lifestyle. Life is for experiencing the world and helping out other people. If money is your goal, you have to change your mindset.
On Turning the Tides
“In 2001, I made a mistake. I told 18 of my fellow comrades who embarked on the entrepreneurship journey with me, that the highest positions they could go was a managerial role. To fill all our Vice President and Senior Executive positions, we would have to hire from external parties.
Years later, those I had hired were gone, but those whom I doubted became Vice Presidents or Directors. Your attitude is more important than your capabilities. Similarly, your decision is more important than your capabilities!”
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