With the latest news on Jack Ma’s disappearance since late October 2020 as Chinese regulators clamp down on his business empire, there is a lot we can learn from him.
The founder of Alibaba who is worth $48.2 billion is a self-made billionaire with humble beginnings. He was born and raised during the rise of Communist China and wanted to make the most of what he had– which was not much.
At a young age, he wanted to learn English so he would give English tours to foreigners for free at a nearby park. When he was older, he graduated with a Bachelor’s Degree in English and worked as an English teacher.
Before he graduated, Ma faced many rejections at a young age. He failed his primary school exams thrice, failed an university entrance exam thrice, applied to Harvard University 10 times and got rejected each time, failed to get a job while in university even after trying 30 times and was the only one rejected by KFC.
In one of his interviews, when asked about his rejections, this is what he had to say, “Well, I think we have to get used to it. We’re not that good.” Overcoming the pain of rejections and treating rejections as opportunities to learn and grow was what Jack Ma made of it.
With Covid-19, it may seem impossible to start something of your own. However, believe it or not this is the best time to start. Since we live in a Digital Era – the sky is the limit. Here are some great business ideas for 2021.
Online Reseller like Jack Ma
This type of business model is affordable and less time consuming as you won’t have to create your own products. You are essentially the middleman between the manufacturer and customers. You can start your own website or run an Instagram or Facebook page.
There is a demand for online teaching as it has become easier to share your knowledge through online platforms. You can choose any subject you are knowledgeable about and teach regardless of your location.
Medical Courier Service
As the healthcare industry is expanding, it is a great venture to go into. You would be responsible for transporting medical items such as lab specimens, prescription drugs and equipment. You can set up your own app/website and hire drivers.
You don’t need super-advanced coding skills for this and nowadays everything you need to know is on the internet
Social Media Manager
Everyone from small businesses to large corporations need help getting their message out there on social media (i.e. Facebook, Instagram, Twitter). If you have experience with social media marketing and know how the ad network operates, you can start a consulting business.
Investor Advisory Services
With the crash of the stock market due to Covid-19, many people are looking to invest as it is a good time for it. You can learn or do a course and get a better understanding on the stock market and advise people on investing.
Companies are always on the lookout for creative designers, whether it be creative writers or graphic designers to help them with their brand image. From designing marketing collateral such as banners, posters and logos to designing landing pages and websites, the opportunities are vast.
Starting a business requires a lot of market research. If you’re concerned about maximizing profit , a good small business to start might be any of the ones that most frequently prove successful. However, if you’re more interested in incorporating your passions to work, it will require skill and hard work while finding a good work-life balance.