Martin Ott, facebook’s Managing Director EMEA, motivated our IdeaLab! participants with four key principles to remember when starting a business.
#thinkmobile: From his experiences at Skrill, Jamba and facebook he concluded that if he was to start a business today, it would be mobile. Today 76 % of facebook’s revenue is gained by mobile devices. Everything what facebook does, has to be mobile first. He reasoned that mobile has become behavior instead of just a technology.
#thinkproduct: First build an amazing product for costumers and then think about monetizing after.
#thinkpartnership: “There’s not going to be a guy who can solve the world’s problems but there’s going to be a lot of them. It’s all about the people.” Picking the right people to start a business with is essential for your success. You will spend a lot of time with them, choose wisely with whom you would like to do so. Choose the inspiring, friendly, and helpful.
#thinkonepercentfinished: facebook is still behaving like a startup and that’s with good reason. It’s the eye-to-eye communication and transparent company culture which preserves the inspiring and innovative atmosphere. „You’re never done.”
Most importantly: “Ask yourself: What am I doing here? If you can’t answer this question, stop doing it.”
Thank you Martin for this inspiring speech!
