This is what a SUCCESSFUL Entrepreneur Needs to Do
What can you do after becoming the CEO of a company? Mark Zuckerberg, the CEO of Facebook chose to study Mandarin.
As the co-founder of Facebook, a disruptive innovation in the industry, Zuckerberg has all the characteristic of an entrepreneur. What makes him and Facebook so successful is not only Zuckerberg’s ability to charge at present opportunities, but also his power to create new opportunities. Instead of following the status quo and choosing sustainable growth that only focuses on existing markets, Facebook is constantly seeking new opportunities to expand its market. While other social network platforms are passively waiting for the Chinese government to deregulate its foreign media policy, Zuckerberg takes the initiative to approach China first. The first mover advantage is extremely important especially in a market with such a large population.
Zuckerberg’s presence in the Tsinghua University (the best university in China) to communicate with students is a sign of establishing relationships with future customers. His ability to speak and understand Mandarin is not only a personal asset but also an asset for Facebook because it serves as a way for the company to enter the Chinese market in the future.
An entrepreneur analyzes the opportunities in a company’s SWOT that is shared for everyone, but a SUCCESSFUL entrepreneur understands how to utilize resources to create opportunities that are then delegated to his company.
Works Cited:
Tang, Didi. “Facebook CEO Zuckerberg Thrills Chinese Students with 30 Minutes of Mandarin.” CTVNews. 23 Oct. 2014. Web. 11 Nov. 2014. <http://www.ctvnews.ca/business/facebook-ceo-zuckerberg-thrills-chinese-students-with-30-minutes-of-mandarin-1.2067352>.