With Facebook’s IPO just having been launched last week, people all over the country (and even world) are looking to see what the results will be. While it still remains to be seen whether Facebook stockholders will become millionaires, there are some underlying lessons we business owners can take from Facebook going public. And hey, if they worked for Mark Zuckerberg et al, they can certainly work for you!
1. Don’t Rest on Your Laurels
Blockbuster stopped innovating once it got the movie rental concept down pat. We know how that story ends. But Facebook, despite its continuing growth, refuses to stop. The company continues to tweak its platform (often to the chagrin of users), acquire other companies and find new ways to be meaningful to its audience.
No matter how successful your brand becomes, there’s always room for improvement. Never stop innovating, and never stop looking over your shoulder to see who’s catching up to you.