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Mark Zuckerberg’s Business Secrets Research Paper

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Updated: May 15th, 2020

Introduction

Mark Zuckerberg was born on May 14, 1984, in White Plains, New York. He is arguably one of the most successful young entrepreneurs in the world. He is the current chairperson and Chief Executive Officer (CEO) of social networking site Facebook. Zuckerberg has made a mark for himself on the global business arena as a strategic entrepreneur (Thau par. 2). Zuckerberg co-founded Facebook in 2004 with his five college friends at Harvard University. Although Mark did not finish his college education, he has managed to establish himself as one of the most influential people in the world. Statistics show that Facebook has reached more than one billion users. Through Facebook, Zuckerberg has made life better because keeping in touch with friends and family is much easier now. Zuckerberg is a world changer who identified a gap in a society and provided people with an opportunity to have a better experience of life (Brown par. 4).

In 2007, the success of Facebook enlisted Zuckerberg in history books as the world’s youngest billionaire (Thau par. 2). Statistics indicate that Zuckerberg has an estimated net worth of $28.5 billion. This research paper will discuss the success story of Mark Zuckerberg and the way he has made life easier for people across the globe.

Discussion

Over the last decade, the entrepreneurial skills of Mark Zuckerberg have been a source of inspiration to billions of people across the world. Many people wonder how he developed the concept of Facebook and managed to become a billionaire within a short period (Brown par. 6). Entrepreneurs across the world can learn many valuable lessons from the approach that Zuckerberg used to build Facebook into a successful business. In his road to success, Zuckerberg has been involved in a legal battle over the ownership of the social networking site (Thau par. 4). The five friends who helped Zuckerberg to create Facebook wanted a share of the company as compensation for their efforts. However, this did not dampen the entrepreneurial spirit of Zuckerberg because he had a mission to fulfill (Brown par. 7).

One of the reasons why Zuckerberg managed to make Facebook a successful business was his passion for technology. He believed that it is very hard for an entrepreneur to fail if he or she has a passion for their work. Zuckerberg was very passionate about technology when he decided to create Facebook. He had a strong desire to improve the quality of life through technology (Walter par. 2). His passion for technology has helped him to create Facebook into a successful global business. Zuckerberg has shown that passion helps an entrepreneur to have the will to learn new things, take risks, and hold on to his or her dream. Passionate entrepreneurs do not give up on their dreams every time they fail or endure a challenge (Walter par. 3).

The second reason why Zuckerberg has managed to build a successful business is that he believes in his abilities. Self believe is an element found in every successful entrepreneur (Karbasfrooshan par. 4). Zuckerberg believed in his abilities when he decided to start and build Facebook on his own despite numerous companies showing interest in being part of the project. Self believes it allows entrepreneurs to remain dedicated to their dreams (Brown par. 7). Zuckerberg has narrated on many occasions the way his college friends made him a laughing stock for staying up in his dorm room all night long while they were out having fun. Zuckerberg says that if he did not believe in his abilities, his dream of creating a social networking site would still be raw.

Zuckerberg also had an open-minded approach to business when he decided to create Facebook. He was open to criticism and always took advice from his team members. This approach helped Zuckerberg to deal with numerous setbacks that sprouted during the process of building the business (Martins par. 6). Some of the setbacks included concerns over the security of users, confidentiality of user information, and denial of a license to operate in certain countries. These challenges posed a huge threat to the growth of Facebook. However, due to his open-minded approach, Zuckerberg managed to hold on to his dream (Martins par. 6). Zuckerberg always believed in the ability of Facebook to provide people with a new opportunity to improve social interaction. Entrepreneurs should understand that nothing comes easy. They have to pass through numerous hurdles before achieving at their desired level of success (Karbasfrooshan par. 5).

Another reason why Zuckerberg has been successful is that he is a high-risk taker. Zuckerberg used a great strategy when he started creating a social networking site. His strategy was to increase demand for the product he was created by turning away potential investors, buyers, and even skipping important meetings with people who were showing interest in his project (Martins par. 8). This strategy carried several risks that had the potential to kill his dream of building Facebook. Although some of the biggest companies in the United States were willing to fund the social networking project, Zuckerberg took the risk of waiting out and working on his dream at a pace he felt would increase the value of the product (Walter par. 8). Zuckerberg emphasized a common belief in entrepreneurship, which argues that entrepreneurs fail to take a risk is the biggest risk in its self. It is important to note that risk-taking involves a lot of self-belief. Risk-taking also makes an entrepreneur to reduce the fear of failing to fulfill the potential of his or her dream (Walter par. 9).

Another reason behind the success of Zuckerberg is the exclusivity of Facebook. The exclusive nature of Facebook when it was launched helped to increase its demand. This eventually led to great success for the social networking site. Facebook was only available to selected colleges in the United States (Martins par. 8). This created a desire among other colleges to part of the exclusive group using the site. The site was even inaccessible to all investors who had shown their interest in the project (Karbasfrooshan par. 6). This also worked out very well in beating the competition posed by similar sites that existed in the market. Zuckerberg used the stiff competition as a motivation to provide people with a unique product that would meet the market demand for a reliable and effective social networking site (Walter par. 10).

A clear mission that Zuckerberg wanted to accomplish also necessitated the success of Facebook. According to Zuckerberg, he wanted to create a social networking site that would open up the world to all people (Martins par. 9). This was his greatest motivating factor that encouraged him to believe in his abilities and the validity of his dream. One of the lessons that entrepreneurs can learn from Zuckerberg is that to be successful; it is important to have a clear mission. A clear mission acts as a guide towards fulfilling a dream. With a clear mission, it is very easy to avoid distractions, temptations, and discouragements when chasing a dream (Thau par. 7). A mission defines the purpose of a project, which in turn helps to implement a team to focus.

Conclusion

Mark Zuckerberg is a big dreamer and a wonderful planner who started with nothing to build a successful business. His passion for technology has made him a model entrepreneur to aspiring business people across the world. When he decided to create Facebook, Zuckerberg had a mission to fulfill. He was ready to take risks and criticism for the sake of fulfilling his dream of creating a social networking site. Through Facebook, Zuckerberg has made life better because keeping in touch with friends and family is much easier now. Zuckerberg is a world changer who identified a gap in a society and provided people with an opportunity to have a better experience of life. Zuckerberg emphasized a common belief in entrepreneurship, which argues that entrepreneurs fail to take a risk is the biggest risk in its self. Entrepreneurs should learn from the success story of Zuckerberg and believe they can fulfill their dreams if they work towards them. The biggest lesson from the success story of Mark Zuckerberg is that money is not always the motivation.

Works Cited

Brown, Joel. . 2012. Web.

Karbasfrooshan, Ashkan. . 2012. Web.

Martins, Tony. 2013. Web.

Thau, Barbara. An Insider Shares Mark Zuckerberg’s Six Secrets of Success. 2012. Web.

Walter, Ekaterina. . 2012. Web.

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