10 Challenges that Defined the Company Disrupting the World

Disrupt the World

Chances are you’ve been on it today. More than 1 billion users visit it daily. Most of us start our day and check our personalized news feed, see who is celebrating a birthday, and keep up with our friends and family on the platform. It’s worth over $400 billion and is in the rare air of companies like Google and Apple.

Of course, I’m talking about Facebook (join me here). It’s not only changed the way we consume information, but also how we interact with the world.

In Becoming Facebook: The 10 Challenges that Defined the Company That’s Disrupting the World, Mike Hoefflinger takes us from the start of 2009 and its 150 million users to its explosive growth over the next several years.

Mike Hoefflinger is a 25-year veteran of Silicon Valley. After working directly for Andy Grove at Intel and as general manager of the Intel Inside program, Mike moved to Facebook to serve as Head of Global Business Marketing. During his nearly seven years there, the teams he built helped dramatically grow Facebook’s advertising business. He is now an executive-in-residence at XSeed Capital.

I recently spoke with him about all things Facebook.

 

FACT: Facebook generates more traffic to YouTube than any other source including Google.

 

Behind Facebook’s Unprecedented Rise

What are some of the factors behind Facebook’s unprecedented rise to its worldwide phenomenon status?

Any story of Facebook’s rise starts with Mark Zuckerberg. While it would be difficult to acquire his vision and intuition, we can learn from how he goes about moving Facebook forward. With Facebook’s mission to make the world more open and connected in place since its earliest days, Zuckerberg has always preferred doing to talking. Whether it is building and launching thefacebook.com, staying calm during stormy product launches or competitive episodes, making big decisions to grow the business, self-disrupting the company via large acquisitions to protect itself, or betting on futures others dismiss or don’t see (such as VR/AR and connecting the next billion Internet users), dogma and fear never swamp the doing.

 

Fact: Facebook tops 1.25 billion users per day.

 

Would you share some statistics on Facebook’s current reach? How often we access it? How it compares to other media?

It’s difficult to over-state how large Facebook has become. Not only does it serve more than 1.94 billion people a month—about two-thirds of all Internet users in the world—it serves two-thirds of those every day, on average once every waking hour. No wonder it is the single most popular mobile app ever. And while that would be impressive, the company is also home to three of the next five most popular global communications tools: WhatsApp at more than 1.2 billion users a month, Messenger at more than 1.2 billion, and Instagram with more than 700 million. With consumers on the way to making mobile the most important medium ever—it is forecast to eclipse the amount of time we spend per person on television in 2020—Facebook is its pre-eminent force.

 

CEOs Who Transform How We Live

What can we learn from great CEOs like Mark Zuckerberg?

Zuckerberg has become a member of a very small group of CEOs in the last five decades who run consumer technology companies that invent the future for us, create the things we cannot live without, and touch hundreds of millions, and sometimes billions, of lives: Intel’s Andy Grove, Apple’s Steve Jobs, Amazon’s Jeff Bezos, Netflix’s Reed Hastings, Alphabet’s Larry Page and Tesla’s Elon Musk. After observing them the last 25 years in Silicon Valley, I’ve detected three things these product-centric founding CEOs have in common:

(1) They pursue an achievable-unachievable mission—something so big it cannot be completed, but one that offers moments of success along the path to bring confidence and momentum to employees, customers and observers.

(2) They are able to see—and willing to pursue—things that are very clever, but appear foolish in most minds initially. This way they avoid the food-fight of ideas everyone else thinks are clever, a road to nowhere of ideas that not only appear foolish but actually are. They usually know something—especially about technology and customers—that no-one else does.

(3) They are running 21st Century Medici Academies that attract the best talent. 500 years before Silicon Valley, the Medici family of Renaissance Florence built facilities, bestowed patronage and hosted discussion forums for the brightest minds of the period, including Michelangelo, DaVinci and Botticelli. The vision, scale and success of these modern-day CEOs make their teams highly attractive for today’s builders with the biggest dreams.

 

The Speed Factor

The Power of Positive Social Proof

Why Is Positive Social Proof Important?

You’re walking down a busy city street and turn the corner only to see a small crowd of people all looking up in the air, at a point across and above the street. What are the odds you’ll be able to stop yourself before looking up to see what they’re all staring it? I know for me, it’s almost impossible…and I’ve tried!

Similarly, in movies and TV shows, it’s easier to laugh along when we hear the show’s laugh-track. I once watched a funny old movie with no laugh-track, and the child I was watching with didn’t know what was funny. We take our cues from others.

It’s the same online. One of the main reasons that people make a choice is because they have “social proof” that others have done so before. It’s a strong motivator.

 

“The key to successful leadership is influence, not authority.” Ken Blanchard

 

Whether you are a business, a blogger, or an individual with career aspirations, you should be harnessing the power of positive social proof. The concept is not a new one, but its importance continues to grow both for businesses and individuals.

Wikipedia defines it this way: “Social proof is a psychological phenomenon where people assume the actions of others in an attempt to reflect correct behavior for a given situation.”

Dr. Robert Cialdini’s famous work on persuasion called this phenomenon out as a particularly effective marketing tactic. His book Influence: The Psychology of Persuasion is a must-read classic.

We tend to adopt as correct the behavior of others around us.

 

“Leadership is an action, not a position.” –Donald McGannon

 

Positive social proof:

 

Helps you stand out. Competition isn’t slowing down, isn’t letting up, and isn’t taking a break. If you want your business to get noticed, then social proof is one way to do it. With more sources competing for our attention every day, it’s vital to differentiate your offering from everything else.

Improves your success metrics. Studies show that we are more likely to share something that others are also sharing. We watch what we see others are watching. Visit a new town and you see two restaurants side-by-side. One has an empty lot and the other has a line wrapped around the block. Which one appeals to you?

Builds credibility. Unless you are already an established expert, a bestselling author, or a of host a worldwide talk show, it helps to build credibility. In Nashville, I see many up and coming music artists using quotes from famous musicians. Authors routinely ask for endorsements for book jacket quotes. Businesses include testimonials from others. All of these are ways to differentiate and add credibility.

 

“The measure of who we are is what we do with what we have.” –Vince Lombardi

 

YOU Need Social Proof

Some of you may say, “Sure, I can see that building social proof matters for a business. But it’s not something I need to think about.”

Think again.

If you want to increase your chances of promotion, see higher raises, or reduce your chances of getting let go from your organization, you should use some elements of social proof. Do you have a marketing plan for YOU? Today, you must promote yourself.

You don’t need to blatantly self-promote. No one likes an egotistical, self-centered know-it-all. But, if I want the boss to choose me for a new project, how do I keep my name out there? How do I stand out? It may not be a blog, but it may be that you wrote an article in your company newsletter or an industry publication. It may be that you are speaking at a customer event. And there is nothing better than the word of mouth social proof because you delivered a key project or pitched in to help when it wasn’t even your responsibility. When your colleagues are buzzing about your performance, that is the best social proof possible. There are many ways to build your social proof as an individual.

 

“Intense love does not measure, it just gives.” –Mother Teresa

 

Your Website Benefits From Social Proof

Recently, one marketer sent me a list of the ways I have used positive social proof on this blog. Here is what she shared (with my explanation).

Shares. On the top of each post, you can see the number of shares. Here’s where I ran into a problem last week. Because I have preferred Twitter to other social media, my Twitter shares are higher than others like LinkedIn or Facebook. Recently, Twitter made a strange, surprising, and I think wrong move by removing counts from everyone’s websites. That turns some posts that were shared by the thousands to showing nothing overnight. Why they did this is answered in a strange post, but I still don’t quite understand it. And, for the record, it alienated a large community of content creators who are now rethinking strategies for Facebook and LinkedIn over Twitter.

 

Does it matter? Adele recently smashed records with the release of 25, becoming the best-selling album in the US of any single week. Large numbers create even more numbers. What would have happened if just as her sales took off Nielsen made a decision like Twitter and just zeroed out the sales?

 

“A true measure of your worth includes all the benefits others have gained from your success.” –Cullen Hightower

 

Awards. These are listed on the right side. I haven’t included all of the kind awards, but I did include many of them. They are a form of social proof.