Learning's from the Social Network

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By Guy Levine
on 11/11/10

Following on from Justin's review of "The Social Network", we would also like to highlight some learning's in business that we took away with us after watching this film.

Before I start though, I would just like to comment on the film itself, the films was very beautifully scripted and produced, telling a brilliant story about start-up life and definitely a motivating film for anyone who has an idea and is afraid to implement it. So I enjoyed the movie and I think I can speak for the rest of my team here as well, when I say that we learnt a lot from it.

Some of the things that you can also take away from it are:

The Social Network: Facebook was built on strengths. Each of the characters in the film had their own strengths that they contributed as a team to the success of this project. If you have a passion to do something big, then you have to have the right knowledge around you to make that work, whether its having the technical knowledge to implement the idea or whether its having the business and market knowledge to turn that idea into a revenue generating machine.

Finalising the deal - contracts and the paper work - If you’re not present in a meeting when the deal is being finalised, then prepare to get ripped off! Even if you are physically present in a meeting when the deal is being finalised, you never know what is in the small print, unless you read it before signing it and in all fairness, if somebody wants to rip you off, they will find a way to do that, regardless of the paperwork.

You have to have that passion for success – Mark had a passion for creating something big, and something that would revolutionise the way we interact and socialise on the internet. His idea was to get the real social experience and turn it into a virtual social experience on the internet via The Social Network: Facebook.

Think outside the box – you have to be able to think outside the box and take on board the feedback that you are given from friends and colleagues. Mark took on board the feedback he received from Sean about dropping the “the” from “the Facebook” so it reads “Facebook”, plain, simple, and effective. The word “Facebook” is now part of the English language and everyday talk among friends and colleagues as well as businesses.

Finally, the technical know-how and knowledge is also very important.

Creativeness + Business and Market Sense = Successful entrepreneur - Mark had the creative mind to think of an evolutional idea and put into practice by creating one of the largest social networks on the internet: Facebook, and change the way we interact as well as how social media works, not only for individuals but also for businesses. With the help of his friends, he was able to quickly get Facebook to generate revenues and make himself the youngest Billionaire in the world as well as make his friends quite wealthy as well!!

Conclusion: Everyone has that entrepreneurial flair and passion to do something big in their life. Very few have the courage to actually implement that idea and succeed. So if you have what it takes to become the next billionaire and create history, we encourage you to make use of the resources around you, think big, put your idea into practice and make your mark in history!