Wealth is a financial measure that is not easily attained by many. The path to financial freedom is often rooted in perseverance, determination, tenacity, and hard work. Self-made billionaires and industry leaders often embody these traits and the founder and executive chairman of Alibaba Group; Jack Ma is one of them. Having recorded the largest IPO in US history, Jack Ma is now synonymous to the title ‘the richest man in China.’ Today, his advice have turned into philosophies that are adopted by people who want to create value in private financing and wealth management in Malaysia and abroad. Over the years, Jack Ma has taught many lessons on money management and here are some of them.
- With great luxury comes greater responsibility
Almost everyone is imbued with a false perception that having billions in your bank account equates to luxury and glamor. ‘When you have more than one billion dollars or a hundred million dollars, that’s a responsibility you have—it’s the trust of people on you because people believe you can spend money better than the others’ Jack Ma once said. Do your part in your society by investing on goodwill projects, corporate social responsibility, and research development.
- Seize every opportunity that knocks on your door
In the realm of business, no opportunities are too small or too big. Jack Ma is a man who believes in seizing and investing on ventures that guarantee profitable turnover and bright future. If there’s a business prospect that resonates with your passion and ideas, don’t be afraid to take it up and push it to its fullest potential.
- Capitalize on your youth
‘If you’re still poor at 35, it’s your fault!’ That has become the wake-up statement that shakes up every entrepreneur and business like minds to the core. Your decade of youth is the best time to capitalize on your imagination, ambition, and vigor. Make mistakes and learn from them. Sprint ahead and chase your dream. Then, reap the rewards that you sow when you turn 35.
- Never price your worth as free
In this day and age, free lunches are non-existent, and Jack Ma agrees when he said ‘free is the most expensive word.’ Every tasks and project on your table require your precious time and valuable effort. Instead of promoting your business with the promise of free things, acknowledge your worth and earn your followings by pricing them right. By building your reputation this way, you will gain respect and loyal following in return.
Managing your wealth successfully in Malaysia requires an altered perspective about money and finances. Founder of Alibaba Group, Jack Ma is an example that anyone can take on the path to success. To mirror his achievements into your personal wealth management, embrace Jack Ma’s advice at heart such as capitalizing on your youth and seizing every opportunity that knocks on your door.