…go with the flow and work hard on what you truly believe. If you get it, be humble. If you don’t get it, don’t be upset. From personal experience and the people around me I’ve learned that money, fame, marriage, health, life can be all lost in a second. I have realized that life is a process of getting and then letting go. The only thing that remains is love in the world.
I had the pleasure to interview Jennifer Wang. Jennifer is a powerhouse in the world of luxury online shopping. As the Co-Founder of Dealmoon.com, she is a relationship arbiter between 3,000+ of the world’s most coveted brands and 15M voracious Chinese-American shoppers who peruse her site monthly. Wang makes dreams come true for her customers, serving up deals and exclusives on luxuries via the largest shopping advisory site for Chinese Americans, with over 5 million followers on the Weibo social network, and more than 2 million app installations. The elegant executive has a lot to say about the nature of e-commerce and the mind of the highly sought after Chinese-American demographic; mostly because she is an immigrant herself. Wang has deep intel on this brand-centric shopper which has resulted in the Dealmoon customer becoming one of the highest average order value shoppers on the web. Under her direction, Dealmoon has sold billions of dollars of product to this consumer for some of America’s most cherished brands. Wang is insightful, courageous and unstoppable. Her expertise in marketing includes developing social networks and compelling content that converts, robust mobile revenue models, international sales, and using online methods to drive brick and mortar sales.
Thank you so much for doing this with us! Can you tell us a story about what brought you to this specific career path?
Of course! If you asked me 20 years or even 10 years ago, I would never imagined to be where I am today. My childhood dream job was to become a bookstore owner so that I could read every day for free. When I grew up, I became a software engineer instead, only because it was one of the hottest careers at that time. However, I was always interested in marketing. When I came across a friend and now our CEO Lu Shen’s website pricetrace.com, I asked him whether I can join to do his marketing. He rejected me at first. One year later, after I gave birth to my daughter, I was brave enough to ask again. This time I was accepted to be part of the team. I tried many ways to do “free marketing” and usually it didn’t work. We eventually realized that very few shoppers want to spend the time researching and would prefer us to find the best products at best price for them. We had a competitive advantage within Chinese American market because we know exactly what they wanted. Thus we changed the strategy and became a Chinese American focused deal site. From there, things took off very quickly.
Can you share the most interesting story that happened to you since you began leading your company?
There was one time our website was hacked when I was on a business trip. The hacker was asking for bitcoin. While our engineers were working on the site, I actually tried to communicate with the hacker by email and had a very interesting back and forth conversation with him. I can’t say what we discussed in the emails but I can say that it was definitely a very intelligent mind I was speaking with. Our conversation ended after our engineers finished building a much stronger protection on our site, but it was an interesting experience. After bitcoin price plunged, I wrote to that email address again and tried to ask him if he’d made a lot of money. Of course, the email bounced back. Maybe I’ll meet that person in real life one day and he’ll say “Hey, remember me?” *wink*
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
We have chosen several different names for our site, one of them being “dealsfargo.com.” We learned that just having such a name doesn’t actually make you “go far.” 😉
What do you think makes your company stand out? Can you share a story?
Being authentic on social media and responsible is what makes us stand out. There was one time, that one of our newer editors got a recommendation from a user and posted a site with fake Canada Goose product. We discovered it immediately and paid for all of the people who were affected by the experience.
Are you working on any exciting new projects now? How do you think that will help people?
Yes, Dealmoon is constantly working on new projects, especially with our app. Personalization, building a Chinese version of “Yelp” and bringing more influencers within our app are the 3 biggest areas we are focused on. Also we’ve expanded into more countries. Last year we opened up to the UK and Australia and now we are covering 5 countries and discovering the best products for their markets. We will expand our audience base every year.
What advice would you give to other female leaders to help their team to thrive?
Get used to letting things and emotions go away as quickly as possible.
What advice would you give to other female leaders about the best way to manage a large team?
It’s okay if you see your team making mistakes sometimes. Focus your energy ONLY on the most important things, like hiring the top talent.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
There isn’t just one specific person, but everyone around me. My mom influenced me to be an entrepreneur, my partners enabled this business to become a reality and our employees who are hardworking and talented all helped.
How have you used your success to bring goodness to the world?
I believe that by Dealmoon growing larger and larger each year, we will impact a lot of people’s lives. Personally, I have opened up a foundation 2 years ago that helps Chinese children with extreme illnesses. This year I have added a new theme to the foundation that aims to sponsor people to attend a special seminar called “Life Academy.” My goal is to have more internet leaders attend this program and influence the world.
What are your “5 Leadership Lessons I Learned From My Experience” and why. (Please share a story or example for each.)
1) One of the most important things about leadership is finding the right people to work with you. If you make the right decision in the beginning, those people will make magic happen. For our own team, our business really took off after we had 6 cofounders who can cover each other’s weaknesses.
2) A leader should manage his/her time very wisely. The calendar should be at most 50% full. My calendar is mostly 20% full, to prepare for the unexpected.
3) Block off lots of family time. A leader who only has success in their career has only reached half of success. After 9 years, I finally learned not to work on the weekend anymore (except under extreme, extreme cases).
4) Plan things solidly with numbers to support your decisions before you start. But always prepare for changes.
5) Find your own way to keep healthy. Without health, nothing else matters.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
I have attended a seminar 2 months ago, it’s called the Life Academy, and the theme is to find yourself, believe in yourself and your ability to change into a better person. I would love to have more people to go to this seminar. At the same time, I am continuing to reach my better self.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
顺其自然，争其必然，得之坦然，失之淡然。 It’s in Chinese, but basically it means go with the flow and work hard on what you truly believe. If you get it, be humble. If you don’t get it, don’t be upset.
From personal experience and the people around me I’ve learned that money, fame, marriage, health, life can be all lost in a second. I have realized that life is a process of getting and then letting go. The only thing that remains is love in the world.
Some of the biggest names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch with, and why? He or she might just see this if we tag them 🙂
I would love to have breakfast or lunch with Jack Ma. I think we have a lot in common. I imagine there would be so much to talk about! We are also both karaoke lovers so I’d love to record a duet together 😉