A Business Plan for Mark Zuckerberg to Save FaceMay 29, 2012 By Denny Hatch
"In the past eight years, all of you out there have built the largest community in the history of the world," Facebook founder Mark Zuckerberg crowed to his newly-minted millionaire employees on the Friday morning of the Facebook IPO.
Zuckerberg got it right. The Facebook community of 900 million is nearly twice as large as the entire European Union and creeping up on the 1.1 billion population of India.
One out of every eight people on earth uses Facebook.
Zuckerberg’s is an astonishing achievement!
Facebook—an Incredible Gift!
I don’t know what I pay for my website on an annual basis, but it’s a fair pinch of change. Facebookers are given the equivalent of a website for free.
Further, with the miracle of technology, Facebook users have a worldwide presence. Travel to Nepal and hire a Sherpa to guide you up Everest, and that Sherpa can become your Facebook friend, instantly in touch with you and all your friends, even though he’s 7,500 miles away.
The question dogging Facebook management—and investors—is quite simply: How do you turn the thing into a moneymaker?
The 10-Word Answer: You get the users to damn well pay for it.
Am I nuts?
Don’t I know that the Annenberg’s Center for the Digital Future polled the Twitterverse in 2010 and found no one would pay for using Twitter.
Not one person. Zero. Zip. Nada. Bupkis.
Am I ignoring the dictum of Richard Nixon’s thuggish gatekeeper, H.R. (Bob) Haldeman, who said: “Once the toothpaste is out of the tube, it's hard to get it back in!”
Quite simply, Facebook ain’t Twitter. For example, I tweet occasionally. At the end of all my e-correspondence is the following:
P.P.S. Follow me on Twitter. I guarantee no waste of your time. http://twitter.com/dennyhatch
In my daily prowl of the Internet, I come up with a dozen or more stories of interest to me that I download into my massive private archive of 70,000 news stories. Every couple of days I see something that might be of interest to everybody and I tweet it with a provocative headline and a hyperlink, just like Drudge.