How did Mark Zuckerberg develop the idea for FaceBook.com? How did Mark Zuckerberg rise from nothing to become the youngest billionaire in the world? What lessons can be drawn from the start-up story of Mark Zuckerberg and his Facebook Company? If you are interested in the answer to any of the questions, then read on.
Success secrets of the world’s youngest billionaire
1. Have a Dream
Most people think that Mark Zuckerberg emerged from the blues to become a billionaire; they think he built Facebook with just a snap of fingers. The truth is they are wrong. Mark Zuckerberg was not an overnight success. His journey to fame and fortune began as a dream; a desire he was willing to sacrifice all for. That’s why Napoleon Hill said that “Desire is the starting point of all achievements.” So if you want to replicate the success of Mark Zuckerberg; if you want to become rich and famous like him, it starts with your desire. What do you want from this life? Where do you want to be in the next ten years? What do you want to be remembered for after you bow your head to death?
2. Think Big
Facebook was a project on Mark Zuckerberg’s computer and he would have opted to sell it off back then but he refused. Why? He refused to sell it off because he wasn’t looking for a payoff; he wasn’t interested in a paid job, he was more interested in changing the world. Facebook was a small project but Mark Zuckerberg’s dream wasn’t a small one.
It’s not because of the amount of money. For me and my colleagues; the most important thing is that we create an open information flow for people. Having media corporations owned by conglomerates is not just an attractive idea to me. – Mark Zuckerberg
His friends envisioned Facebook as a college project; Mark Zuckerberg envisioned Facebook as a worldwide project that will change the way people communicate and stay in touch. People initially analyzed Facebook as a million dollar project but Mark Zuckerberg envisioned a billion dollar company. What do you see in that small business idea of yours? Where do you see your company in the nearest future? Are you aspiring to build a million dollar company or a billion dollar company? Remember that success doesn’t just happen; it begins with strategic planning.
3. Start Small
Mark Zuckerberg had big dreams and wonderful plans. He envisioned a worldwide project that will be worth billions of dollars. Yet, he started small. He wasn’t discouraged by his humble beginning; he didn’t despise the days of little beginning. Instead of waiting for the million dollar funding or start-up capital; he started from his dormitory with little capital and sweat equity. But today; he’s among the youngest billionaires in the world. Never be ashamed to start from the scratch because building a business from scratch is where the glory lies.
4. Believe in Yourself
Self belief is a prerequisite for successfully undertaking any venture and Mark Zuckerberg had lots of it. You can never build a successful business by thrusting responsibility to someone else. You have to believe that starting a business and growing such business can be done and you are the one to do it. Never look down on yourself; believe firmly in yourself and your God’s given ability and you will make it.
5. Follow your Passion
What are you passionate about? Are you prepared to stick to your passion? Are you willing to make sacrifices for your passion? These are the questions you must answer if you want to replicate the success of Mark Zuckerberg. Mark Zuckerberg was a programming enthusiast from childhood and he stuck to that passion; despite the fact that it led him to break the rules, he stuck to it. Everyone loves the success story of Mark Zuckerberg but only few will ever give a thought to the fact that Mark Zuckerberg dropped out of college; just to make sure his passion never dies. That singular sacrifice alone enabled him make the list of the richest drop out billionaires in the world. Undying resolve is a key to building a billion dollar business from scratch.
6. Be Prepared for Criticism
Just like every successful entrepreneur; Mark Zuckerberg has gotten his share of criticism. But he refused to be cowed by it. Criticism is a necessity on the road to the top so you must be prepared not only to accept it but also to leverage on it. Don’t let criticism hold you back; instead, use it as a stepping stone to greater heights.
I just wish nobody made a film about me while I am still alive. – Mark Zuckerberg
7. Be Diligent
The message below is clear. Before the sweetness of success comes sweat. No man gets to the top with both hands in his pocket. All successful entrepreneurs and drop out billionaires earned their place through hard work; they toiled while others slept and that’s why they became successful.
8. Don’t Be Afraid to Dare the Giants
Mark Zuckerberg wanted Facebook to be the heart of the internet but he had an obstacle; an unmovable well established giant and that giant is Google. Was Mark afraid to take Google head on? The answer is no. Sometimes, success can be found at the feet of the giants; in the den of lions and only the brave can go for it. That’s why courage is one of the characteristics possessed by successful entrepreneurs. Without courage, there will be no risk taking.
9. Be Focused
Do you know the reason why Facebook was able to withstand Google? The answer is because Mark Zuckerberg focused on fulfilling Facebook’s mission. That’s why successful entrepreneurs such as Warren Buffett, Bill Gates and Andrew Carnegie repeatedly emphasized the need to concentrate. Diversified effort yield’s minimal results; concentrated effort yields maximum result. So concentrate.
10. Learn to Take Risks
No entrepreneur ever became successful without undertaking an atom of risk. Mark Zuckerberg also had his fair share of risk. When Mark Zuckerberg dropped out of college to focus on building Facebook; he took risk. By confronting Google; he took risk. Facebook itself was a risky venture that paid off immensely. Entrepreneurship is all about risk taking. Without risk, the world will remain stagnant.
11. Stick to the Process
Starting the entrepreneurial process is one thing; sticking to the process is another. Facebook was not an overnight success; its success was achieved on instalments. Mark Zuckerberg did not become a billionaire overnight; he worked it out for years and he is still working it out. That’s the spirit of entrepreneurship; the spirit of continuity. In conclusion; there’s nothing extraordinary about Mark Zuckerberg’s success. There’s nothing abnormal about his emergence as the youngest billionaire in the world. He deserves the position because he dreamed it, planned it and worked it out. He stuck to his passion and focused on fulfilling the Facebook mission; that was why he became the youngest billionaire in the world. His success has nothing to do with luck.
Recent Start-Up Advice
Zuckerberg stresses that entrepreneurs need to give themselves the flexibility to follow what they learn, and what they love. Zuck said “I have this fear of getting locked into doing things that are not the most impactful things you can do.” That’s why he said “I never understood the idea of wanting to start a company before” knowing what the company should accomplish. “I think people really undervalue the option value in flexibility.”
What Do You Want
Zuckerberg advises would-be entrepreneurs to “Explore what you want to do before committing. Keep yourself flexible. You can definitely do that in the framework of a company, but you have to be weary of working at a company and getting locked in.” Zuckerberg wasn’t even sure Facebook would be a business. If you think you have an idea, make sure it’s going to have a big impact. Zuckerberg said that “One of the lessons is…do something fundamental. A lot of companies I see are operating on small problems, and that’s fine, but the most interesting things operate on a fundamental level.”
And if someone new enters your market with unique ideas, don’t derail your roadmap chasing them. Otherwise, Zuckerberg says you could end up like Myspace, which ruined itself chasing Facebook. Zuckerberg explained “they felt threatened by us and copied us, and you’re never going to win that way. Companies getting started now that are just trying to copy what other people are doing aren’t successful.
Going It Alone
Zuckerberg’s answer was simple: Don’t go it alone. He faulted the media for propping up startup celebrities as superhuman, as though they can tackle any problem by themselves.
“No person knows how to deal with everything. But if you can find a team of people, or friends, or family — and there will be different people over time because different people like to focus on different problems or different scales of the problems — then that’s what’s really going to get you through, that’s what’s gotten me through and that’s what continues to get me through all the stuff that we have. Yeah, you don’t have to be superhuman, you have to just kind of keep on going and not do it alone and find people who share your passion for what is the important thing in the world.”
Interestingly enough, at Stanford recently, Linkedin cofounder Reid Hoffman gave a lecture on the exact same topic, although he gave more specific advice about how to leverage local and personal networks to found a great tech startup. Both he and Zuckerberg said that it’s better for a startup to have more than one founder. “What great founders do is seek the networks that will be essential to their task…Usually it’s best to have two or three people on a team, rather than a solo founder,” Hoffman said.
Young and Technical
“I want to stress the importance of being young and technical,” he stated. If you want to found a successful company, you should hire young people with technical expertise. He said it’s important to hire mostly coders, even in the marketing department, so if they want to change something on the website all they have to do is log into the back-end and change copy on the fly.
Mark Zuckerberg started from scratch and rose to become the youngest billionaire in the world all in a space of five years. Following are some of Mark’s inspirational tips to keep us motivated. Enjoy!
The biggest risk is not taking any risk… In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks. – Mark Zuckerberg
On get up and go…
Move fast and break things. Unless you are breaking stuff, you are not moving fast enough. – Mark Zuckerberg
People can be really smart or have skills that are directly applicable, but if they don’t really believe in it, they are not going to really work hard. – Mark Zuckerberg
Done is better than perfect. – Mark Zuckerberg
What would you do if you weren’t afraid? – Mark Zuckerberg
Almost any mistake you can make in running a company, I’ve probably made. – Mark Zuckerberg
If you just work on stuff that you like and you’re passionate about, you don’t have to have a master plan with how things will play out – Mark Zuckerberg