7 thoughts on “Lessons From The Social Network: Facebook’s Entrepreneurial Magic & Game Mechanics

  1. Facebook has been the game changer as well as the game. Google has also done a fantastic job of incorporating the principles timing, exclusivity, urgency, and vision through both Google + and gmail.

    5 years may be the shelf life of a social network that doesn’t evolve (Ex: myspace ), but for a network that is going through constant iterations, does that rule applicable? I would argue not.

    • This is very true.. A business that re-invents itself constantly can forge a legacy where others just die off. We’ve seen this with Apple, which kept them relevant no matter how little market share they had at certain points. We also learn that re-purposing and diversifying your offerings can work. It certainly has worked for Facebook!

      I think when people stop complaining about the Facebook, we’ll see them go downhill. Why? Because that would mean no one really cares about Facebook anymore. ;o)

      Google’s timing has been particularly good and they have the benefit of learning from Facebook about what works and what doesn’t. It’s going to be an interesting road ahead.

      Facebook can certainly be a game changer but the constant changes means ongoing adjustments need to be done. This can be a strain on businesses and creatives that rely heavily on Facebook for exposure, lead generation, and CRM.

  2. Wow! I had never really thought about this, Yomar! I love how you laid out your thoughts on the success behind Facebook. Your point on exclusivity especially hit home for me. A friend had been suggesting that another way people make money online is through private message boards and I’m realizing that the whole idea behind that is having supposed exclusive members and information.

    I’m also really interested in the idea that urgency also contributed to Facebook’s success despite Mark not having a clear plan. This so ties in with all that you’ve been telling me about how sometimes, what’s most important is getting started. If we stop to think about having all the details set beforehand, we can lose motivation and interest. I’d like to have a little bit more faith in my intuition and a lot more flexibility in working with things as they go along.

    I’m so curious if Facebook is going to keep on. To me, it still seems to be going strong, but I’m no social media expert. I almost prefer it because I’m so comfortable with it and used to it, but if things have to change, they have to change. =P

    • I agree with you because, no matter how many mistakes Facebook makes, they keep growing. Some are really thinking this timeline thing will be huge. We’ll just have to see!

      You don’t have to be an “expert” to see that Facebook has great momentum going once again.. I’m very curious to see what the coming weeks and months will bring for sure! 8)

      BTW, super stoked that the key take-aways in my review/analysis stood out for you.. We can learn a lot from Facebook’s mistakes and successes alike. I still find it funny how all this madness started with some drunken frustrations. ;o)

  3. Pingback: Blog Soup 2011.11.07 Unbid Tears, Love, Hope, and Imagination « The unofficial blog of Stan Faryna

  4. Pingback: Blog Soup 01.17.2012 How to curate people and other social media DOHs « The unofficial blog of Stan Faryna

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