Mark Zuckerberg, the founder of Facebook, is arguably one of the world’s most successful entrepreneurs. At just 24 years of age he became the world’s youngest billionaire, and his website has now reached over 900 million active users. Perhaps most impressively of all, he achieved all of his success through a project he started in his college dorm room.
Here is a breakdown with 7 reasons we believe, play a major part in Mark Zuckerberg’s Success.
1) He Truly Believed In What He Was Doing
It takes a lot of dedication to become successful, and not just during office hours. While Mark Zuckerberg‘s friends were out partying, he would stay in his dorm room and work on coding his website until early in the morning. It is very difficult to put in the hours and hours of hard work needed to build a company from the ground up, without truly believing in and enjoying what you are doing.
2) He’s Always Prepared To Take Criticism
In its rise to being the world’s most popular social network, Facebook has suffered its fair share of setbacks. Not only has it been the subject of law suits with former founders and legal battles over information confidentiality, it has even been banned intermittently in several countries. Through sheer determination and by having incredibly thick skin, Mark Zuckerberg and his team have remained strong in the face of adversity, being mindful of the hazards and hopeful of maneuvering around any challenge that comes their way.
3) He Loves To Dream Big
Not too many people would dare to believe that a project they had started in their college dorm room would end up becoming a worldwide phenomenon. While it is unlikely that Mark Zuckerberg was aiming for one billion users from day one, it is clear that he always had big ideas about his company’s success and his overall vision for the future.
4) He Is Not Afraid To Take Great Risks
When raising money for Facebook, Mark Zuckerberg took a series of significant risks. He shunned major investors, cancelled meetings, and ignored important phone calls, just to drive up demand. Eventually, he had twelve large investment companies clamoring to fund his site. While most people would have been too scared of missing out on an opportunity, Zuckerberg and the rest of the Facebook team believed in their product enough to wait it out.
It is often said that in the world of business, not taking risks is the biggest risk to take. Unfortunately, when you have worked incredibly hard on a project, daring to take risks can be a struggle. However, by not letting fear get in the way of a big decision, you can ensure that you are making the best choice for your project.
5) He Learnt To Be Exclusive
When Facebook began it was only available to members of the top American colleges, Harvard, Yale, Dartmouth etc. Students from other colleges all over the country soon wanted to be part of this exclusive club. When major investors first heard about the project, they could not even access the site because registration required a .edu email address. By keeping the site exclusive, Mark Zuckerberg made sure that supply was never larger that demand and that Facebook remained a highly sought after prize.
6) He Was Never Put Off By Competition
When Mark Zuckerberg first launched his project, it had major competition from more than 20 similar sites, and each was in a far better position than Facebook. MySpace could boast over 5 million users, Friendster had raised $13 million in investment, and Orkut was backed by Google.
While many entrepreneurs would have thrown in the towel at the mere thought of such tough competition, the perseverance of Zuckerberg and his team finally paid off.
7) He Was Clear About His Mission & Saw It Through
Zuckerberg once said that his mission was to “make the world more open”. Nowadays Facebook unites long lost family members, reports conflicts in areas where free speech is banned, and has been a useful tool in planning uprisings against oppressive governments. Understanding your main aim, whatever it may be, and not getting distracted by unproductive ventures, is the best way to ensure that you reach your goal.
Mark Zuckerburg’s achievements were not the product of luck. He gained everything he has through a combination of hard work, passion, and the courage to dream big. By not shying away from taking risks and moving forward in the face of major competition, it is possible for any entrepreneur to be just as successful.