What Business School students can learn from Mark Zukerberg
Mark Zuckerberg is a success story like no one else’s! The founder of the most popular social networking site, Facebook, Zuckerberg is a self made billionaire with his assets estimated to be around 4 billion dollars! He had created Facebook from his Harvard dorm with a few other friends in 2004 and in a span of seven years, the number of registered users have grown remarkably to an astonishing 500 million users as of 2011!
However, his success did not come overnight and it is only because of his shrewd business policies that he was able to reach where he is right now. So, let us now examine the top 10 skills that one can learn and be inspired from Zuckerberg’s success story:
- Have a dream – Mark Zuckerberg’s journey to success began as a dream and a burning desire. This is what most successful entrepreneurs do – take some time off from their day to day activities and problems and sit back and dream about their future. As a Business School student you must give yourself time to dream and visualize a future that you want and only then will you feel the desire to achieve it.
- Be passionate about it and do it yourself – Be passionate about your dream! Zuckerberg was, he used to stay awake the entire night programming codes while all his friends were partying and now look at the result!, Your passion drives the Business
- Think long term – If there is one lesson that every entrepreneur must learn from Mark Zuckerberg, it should be – holding on to a long term idea for achieving success. Of course, not all such planning turns out to be successful, but thinking about the next 5 to 10 years will at least inspire the enterprise towards gaining a momentum and sticking to their visions. Business Schools should teach students on Long Term Vision.
- Be flexible and open to change – The main reason behind Facebook’s success was because of Zuckerberg’s flexibility and willingness to make alterations and changes to the website whenever needed. That is how your attitude should be open to change and flexible. Change is the mantra for Business Schools
- Think about development and not just about profits – Instead of aiming at profits, you should think of how to develop further. Zuckerberg never aimed at becoming a billionaire, he rather focused on how to improve Facebook. Continual improvement is one more important aspect of Business
- Pay attention to trends – Facebook has always kept up with the latest trends adding games, gifts and similar applications from time to time. This is a very wise thing to do, to integrate the latest trends in your own enterprise and only then can it continue to have the same appeal as before. Best Quote that would match with the above is when it comes to policy stand like a rock and when it comes to style be with the current, must be followed by Business School Students
- Invest wisely – You should know where and when to invest. Let us take the example of Zuckerberg’s friend, Eduardo Saverin with who had invested around $19000 initially and now his share has grown to almost $1.3 billion!, Yes learn taking calculated Risks in Business
- Be prepared for criticism – Just like every successful entrepreneur, Zuckerberg had had to face his share of criticisms too, be he refused to be bogged down by it. Instead it inspired him to work even harder! Don’t get dis-hearted by Criticism, take it as a stepping stone in Business
- Stick to things that you know and are certain of – Do not wander into unknown territories and always try to remain within your abilities. That is exactly what Zuckerberg and his friends did, they all stayed within their limits and skills and eventually achieved tremendous success. This often happens for freshers who move out of Business Schools avoid it.
- Finally, believe in yourself – Self belief is an essential requirement for every person who wants to be successful. Zuckerberg had plenty of it and therefore he did all the initial work himself and did not just hand over the responsibility to someone else. Yes Do It Yourself to Excel, nobody else can do it better than you.
In conclusion, what really is extraordinary about Mark Zuckerberg is he surely deserves his present position as the youngest billionaire in the world because he had the courage to dream and the desire to chase that dream. He did not shy away from taking risks and stuck to his passion and that is how and why he emerged so successful.