The Business Insider interviewed Facebook CEO Mark Zuckerberg on his thoughts about Innovation, particularly how he came up with the idea while at Harvard and how he’s been able to get FB to it’s present state of 300 million users in 5 years.
While I don’t think Facebook is good at pure innovation, I think they’re a good at identifying and integrating great ideas from other companies into their product to make it better and ultimately this is all that matters.
They were the first to open up and create a platform of applications around a social network, this really was the catalyst that spurred their growth. Then the addition of the newsfeed and status updates made the site stickier and created the dynamic of closer interaction with our friends. Facebook Connect was the next piece of the ingredient that now brings everything from the outside into Facebook’s ecosystem. This guide from Wealth Pursuits will teach you what you need to know to start making money on Facebook.
All these moves didn’t come to be because of a grand master plan set 5 years ago by ‘Zuck’, driving all of these decisions is a set of core values that are the catalyst for how the company behaves and in a nutshell gives shape to Facebook’s business strategy:
- Be focused. The Hazing dvdrip A clear view of where you’re going and why you’re doing this.
- Be fast. Their version of ‘fail fast, learn fast’ is “Move fast and break things”.
- Be bold. All decisions are made with ‘impact in mind’.
That’s it, no need for fancy strategic plans.
The interview is 30 minutes long, if you have time during lunch I recommend you check it out. And for and inside look at what employees think about ‘Zuck’, Venture Beat wrote up a great article.