The first time: founding Haibo Translation Agency

It was 1992. Jack Ma was a young teacher at Hangzhou Institute of Electronic Industry. He was 28 years old and had worked for 4 years. His monthly salary was less than 100 yuan. But having no money was not a problem. He found several partners to start a business together and set up the first professional translation agency in Hangzhou. It was also difficult to start a business. In the first month, the total income of the translation agency was only 700 yuan, and the monthly rent was 2,400 yuan at that time. So kind colleagues and friends advised Jack Ma not to mess around, and even the confidence of several partners was shaken. But Jack Ma never thought of giving up.

In order to maintain the survival of the translation agency, Jack Ma began to sell small commodities such as underwear, gifts, and medicines. Like many salesmen, he sold them everywhere and suffered humiliation and contempt. For three whole years, the translation agency relied on Jack Ma to sell these groceries to survive.

In 1995, the translation agency began to make profits. Haibo Translation Agency also made a great contribution to Ma Yun's entrepreneurial experience. The biggest inspiration Haibo Translation Agency gave Ma Yun is: never give up. Without money, as long as you never give up, you can succeed.

The second time: founding China Yellow Pages

China Yellow Pages is the first website in China. The establishment of the website was due to Ma Yun's experience in the United States.

In early 1995, Ma Yun visited a friend's Internet company in Seattle and saw the magic of the Internet with his own eyes. He immediately realized the huge development prospects of the Internet in the future and immediately decided to return to China to do Internet. At the beginning of the business, Ma Yun still had no money, and all his belongings were only 6,000 yuan. So he sold the office furniture of Haibo Translation Agency and borrowed money from relatives and friends, and finally raised 80,000 yuan. Adding the investment of two friends, the total was only 100,000 yuan. For an Internet company, a mere 100,000 yuan is really too shabby.

For China Yellow Pages, funding was indeed the biggest problem in the early days. Due to high expenses and low business, at the most miserable time, the company had only 200 yuan in cash in its bank account. But with his indomitable spirit, Jack Ma overcame all kinds of difficulties and increased the turnover from 0 to millions.

The third time: founding Alibaba

Alibaba is undoubtedly a miracle in the history of China's Internet, and this miracle was created by Jack Ma and his team. But when Alibaba started its business, it didn't have much money. 500,000 was scraped together by 18 people.

500,000 was all their assets. However, it was with this 500,000 that Jack Ma wanted to build the world's largest e-commerce company and enter the top ten global website rankings. Later, he succeeded.