Despite all the criticism that Mark Zuckerberg has taken for his actions in the past, there is one thing that nobody can contest: Zuckerberg is an extremely shrewd business person. He often thinks in terms of decades, not days, weeks, or months, and has built the only site that has ever had the chance to take down (or at least compete with) Google. So what is it that has brought him to this point and what should entrepreneurs take away from his successes?
Think Long-Term
If there is one lesson that every entrepreneur should take away from Mark Zuckerberg, it’s that holding tight to a long-term vision is critical to experiencing massive success. While that vision is subject to adjustments over time, thinking in terms of a 5 to 10, even 20 year horizon while making any business decision, will help guide a company toward long-term stability.
After watching Mark Zuckerberg, I now tell every who discusses entrepreneurship with me the following:
If you think in terms of 2-year visions, you will outperform 95 percent of society. If you think in terms of 5 or 10 year visions, you will rank among the top 0.01 percent.
Granted, not all long-term visions succeed, but thinking with such long horizons, gives you and your organization the ability to tackle problems that no ordinary company would ever be able to accomplish. That’s because the majority of people are short-sighted. We all can become short-sighted (such as when you see a news article that instantly changes your perception), however it is the truly successful entrepreneurs that hold fast to long-term visions.
Have The Confidence To Dream Big
I sold my own company (Social Times Inc, which includes this site) back in December to WebMediaBrands Inc. (Nasdaq: WEBM) and it was the result of a vision which was initially limited. While there was a broad vision which was much longer term, I was too often focused on the day-to-day of things. Getting through this process is something that will be left for a different post, on my personal site, but once you have the luxury of not being concerned with basic survival needs, entrepreneurs have the opportunity to create massive dreams.
I should note that one way of not being worried with basic survival needs is by keeping your job, something I personally didn’t do. Moving on. Having the opportunity to reflect on life’s experiences and dream about the future is a luxury afforded only to a fraction of the world’s population. To those select few (many of whom fall within our reader base), you can create a dream that most people will tell you is absolutely ridiculous.
Rather than getting bogged down in the day-to-day problems, step back and paint a picture of your future, and your organization’s future. Ideally this picture will be physically drawn (in the form of words or images) on a piece of paper, but that’s just part of it. While Mark Zuckerberg may not have had the dream of reaching one billion users on day one, it has become clear to me that in the past year Zuckerberg has begun practicing new exercises which encourage him to think in terms of dreams that are only possible with resources unimaginable to most.
After hearing Mark Zuckerberg mention such exercises to members of the media, and after successfully testing out the theory of turning dreams into reality, I now realize the importance of having big dreams. It requires a significant amount of confidence, but for the few who are capable of dreaming and believing in massive dreams, the world is your oyster.
It didn’t take Mark Zuckerberg alone for me personally to learn this lesson, but his most recent side comments at press events have taught me about the potential for big dreams. Who knows, you may actually build the next Facebook!
A Personal Addendum
On Being Trustworthy
I should add that I do not personally know Mark Zuckerberg well. While I had the opportunity to interview him once, and have interacted with him in a public forum, I do not know him on a personal level very well. Honestly, very few people know him extremely well. While meeting with a leading internet investor the other day, I was asked “Do you trust Mark Zuckerberg?” To that question I cannot respond, because I do not know him personally. However I’ve trusted Facebook since early on, when I was first building a social network of my own from scratch.
When building things you often pretend you are inside the mind of a competitor (or a perceived competitor) and try to think how they will act and what they are considering. Without ever meeting, and even often without knowing the individuals behind the business, you begin to paint a picture of what you believe them to be, and honestly I always viewed them as trustworthy.
The company however has made some missteps which make me, and many others, wonder what Zuckerberg’s intentions are. For example, why is the company so dead set on keeping “Instant Personalization” the way it exists today? It honestly does not make any sense whatsoever.
On Being Visionary
I should also add that I am always extremely hesitant to call anybody a visionary. The reason is that in the context of business, visionary suggests that a person is not only capable of creating the vision, but also capable of selling the vision to others and leading (as a leader) those individuals on the journey to reaching the vision. I have been told on many instances, by many people close to Mark Zuckerberg, that he is indeed a visionary.
To me, that promotes Mark Zuckerberg to the level of Steve Jobs, who is now the King of the technology industry. Journalists, analysts, investors, and most importantly consumers, look to Steve to produce products that will change their lives. It has often been compared to a “cult” but in reality, nobody is more effective at selling a vision to us, the consumers, as Steve Jobs.
Visionaries come in all shapes and sizes, and lead various types businesses, however it is rare that a visionary can have the impact as large as Steve Jobs. Conversely, a product can have as massive of an impact as the iPod, for example, yet still be produced by a company which is not lead by a visionary. Facebook is no doubt one of the most impactful products in decades, if not centuries, but I have personally not yet determined whether the leader behind the product is in fact the Steve Jobs type of visionary that so many have grown to idolize.
I should also add that it’s difficult to hold such comparisons when Mark Zuckerberg is 26 and Steve Jobs is 55.
Forever A Skeptic
As you can probably tell, I am by nature a skeptic. I am in awe of Facebook and I believe the company has the potential to accomplish massive things, that are still currently beyond their reach. Facebook is an incredible company, but I, like any objective observer should, have a healthy dose of skepticism to keep me grounded. While I believe in the potential of Facebook, which is still far beyond what it has currently accomplished, I will also continue to question the company as well as the intentions of Mark Zuckerberg, the incredibly self-guided, shrewd, and aggressive business person.
Image via Gawker.
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The title of this post is pure gold, everybody want's to learn the secrets behind Mark Zuckerberg success. Jackpot !
Comment by Mihai — June 2, 2010 @ 1:56 pm
very nice post, I would like to add one thing about Mark, his focus from day one until now was on growth and user acquisition not on generating money, another note FB kept evolving, others like myspace stay the status Que. and moved when it is too late. FB did not have any problem trying new things, did not have any problem redesigning the site many times.
another thing Mark i surrounded by great team, he alone would not make it.
one more thing if facebook was acquired early on i do not think it would have become what it is today
Comment by Gaith — June 2, 2010 @ 3:39 pm
I remember around 3 years ago when he turned Yahoo's offer to acquire FB for 1 billion USD.
Comment by Gaith — June 2, 2010 @ 3:41 pm
It's ALWAYS about money. Otherwise you fail. Have none of you written a business plan? I thought not. He wants the money, but also to be in control. He turned them down because he wanted to be like his idol bill gates (who is nothing more than a slick marketer).
Comment by Guest — June 2, 2010 @ 5:03 pm
I still see Google as an entirely different kind of cyberspace entity. As was mentioned on another blog discussion thread here (I think it was the one about Facebook getting more searches than Google, which was kind of ridiculous if you think about it,) Google kind of "is"…it's so woven into the Internet that it's not even looked at AS something. Facebook is a place on the Internet, but Google is still how everyone GETS just about EVERYWHERE on the Internet. I see them as equals in different ways.
Comment by Ally — June 3, 2010 @ 5:33 am
I started building & promoting my site a year ago and since then til now, my site has grown. And reading this article has made me think about putting a 2 to 3 year plan in action. Big up mark, hes a real deal when it cames to business.
Comment by Zaks — June 3, 2010 @ 7:56 am
Mark has done exceptionally well to get Facebook to where it is today. I think the grass roots of when he first started were done very well which allowed FB to grow into what it has become today.
If FB allowed anyone to sign up and not just Harvard, and then the select few other universities, I do not think it would have grown into what we know today. People love the feeling of being part of something.
Comment by NigelBurke.com — June 4, 2010 @ 5:48 am
Last teaching point: Collect as much personal information from your clients as humanely possible.
Sorry, couldn't resist.
Comment by Michael Carper — June 4, 2010 @ 7:58 am
@Nigel – yes and they like being part of something EXCLUSIVE (no spam / stupid children) even more.
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FB should have stayed for COLLEGE students only. Now it's just a spam hole.
Comment by Guest — June 4, 2010 @ 11:39 am
Mark Zuckerberg is one of this millineum's greatest minds. The social network virtual landscape being relatively unchartered terriorty — his pioneering concepts are to be applauded by all. Keep up the good work Mark, we're big fans of yours.
Comment by Certified, Inc. — June 26, 2010 @ 5:08 am
I'm glad you mentioned that the visionary (or dreamer's) way of life is only available to certain lucky groups of people. It is extremely important to understand that unless your basic needs are covered, you are risking a whole lot by engaging in a new enterprise with hugely unpredictable results.
Comment by Lorne Marr — July 22, 2010 @ 12:33 pm
Great post very true. A lot of marketers jump all over the place like rabid dogs from one project to the next. If you concentrate on one project or one main blog, or website, that interests you to build your business around. Your online success rate will increase greatly.
Build one main online business to a success like Facebook for example before jumping to your next project. Think long term income instead of a short fix that is what seperates us humans from the animals our brain power is far superior.
We need to learn to use it to our advantage. Loved the post, and blog. Thanks and I will be back!
Comment by Jay — August 7, 2010 @ 6:56 pm
Although everything addressed in this post are valid points, it is impossible for one to overlook the principle of long-term thinking. Far too many people give up way before they should in business, and are therefore not as successful as they could. I think this problem is two-fold. First of all, they are not passionate about what they do, and secondly, they expect results immediately. With technology the way it is today, we have become a world of people who are able to be gratified instantly–it just doesn't typically work that way in business. You must pay your dues, and think long-term.
Comment by Nathan Mitchell — October 20, 2010 @ 9:48 pm
Mark is a genius and I admire him for that. We should be thankful Facebook was designed and created. It's very useful most of all in advertising.
Comment by davidatpwh — December 19, 2010 @ 9:25 pm
I think this article has one crucial point. Dream big and think long term, while keeping your day job. Most people think of starting a business in terms of quiting the job and making big bucks right away.
Comment by David — December 31, 2010 @ 11:49 pm
Awesome article thanks for sharing.
Comment by health insurance — June 30, 2011 @ 12:36 am
great young enterpreneur…
Comment by homein — August 11, 2011 @ 11:17 pm
Great Mind! young Entrepreneur
Comment by Trinicompass.com — August 15, 2011 @ 8:25 am
Also, Awesome article thanks for sharing, great article
Comment by Jesse — August 15, 2011 @ 8:27 am
hello…welcome
Comment by lilei — September 6, 2011 @ 11:55 pm
Interesting post, I think Zuckerburg's life is a great testament what is possible in the marketplace of ideas. I also think his life sheds much light on what others can do to be more successful when launching a business.
Anwar http://anwarsreflections.blogspot.com/
Comment by Anwar Salandy — September 11, 2011 @ 7:17 pm
Nice and quite useful blog. Would like to say that stock market hardly gives any second chance. Once opportunity lost means it’s gone forever. Now the biggest question is how to grab trading opportunities every time we trade?
Well here comes the technical analyses handy. Just rely on research rather than your guts feeling and one should stop speculating in the Share market.
Follow few basic trading rules and we are sure one can earn huge amount in the Indian stock market only by trading in NSE and BSE
Comment by buzzingstreet — October 17, 2011 @ 4:02 am
[...] skeptical about whether Facebook would become a viable source of funding for entrepreneurs if the bill is [...]
Pingback by Could Facebook Raise Capital For Entrepreneurs? — November 1, 2011 @ 1:24 pm
“LinkedIn is for people you know. Facebook is for people you used to know. Twitter is for people you want to know.”
- Unknown
Comment by Danny — December 16, 2011 @ 11:14 am
Very encouraging post indeed! Mark is a real visionary of this decade. http://www.gmrtranscription.com
Comment by Transcribe — January 3, 2012 @ 9:11 am
Ahaha I love your examples of your belly dancing class.
Comment by iç dekorasyon — January 21, 2012 @ 6:26 am
I agree 100%, most people don`t understand that short term goals are good for short term results, and the big goals take more time. Specially when you`re new at something, it`s better to go step by step to avoid lots of mistakes and a freefall. Those with long term vision and dedication will be the leaders tomorrow, I`d say my goals are 3-5 depending on the market ( we`re in real estate ).
Comment by edward — February 8, 2012 @ 12:14 am