Posts Tagged ‘Ceo Mark’
Wednesday, May 9th, 2012
We all know the Facebook story ….
From a Harvard dorm room in 2004, in eight years Facebook has changed how much of the world communicates. In the process, it has created substantial wealth for its founders and early investors. While not yet public, purchases on private marketplaces put its value at $100 billion.
As CEO, Mark Zuckerberg obviously did many things right. But there is one particular aspect of his approach that was critical to Facebook’s success; and that advisors can learn from.
Better done than perfect:
On the walls at Facebook’s offices are painted four words:
“Better done than perfect”
As I think about some of my conversations with advisors, I’m struck by how often those words would help advisors break the logjam of perfectionism that prevents them from getting things done in their practice.
Some common examples:
- The advisor who spends dozens of hours fine tuning his financial planning process to get it exactly right before using it with his clients to the point that it never actually gets in front of clients
- The advisor who goes through draft after draft of his or her newsletter perfecting the words; but is only able to summon up the energy to do this once a year
- The advisor who invests immense amounts of time researching the best way to approach accountants reading articles, listening to presentations by consultants and talking to other advisors, but runs out of steam when it comes to making the plan happen
We’ve all been guilty of perfectionism spending an inordinate amount of time trying to get things exactly 100% right, when 90%, 80% or even 70% would be sufficient to get the job done.
Bear in mind this isn’t always the case. If I’m having heart surgery, the stakes are high enough that I want my surgeon to obsess about getting things 100% right. But when it comes to getting out a quarterly newsletter and many of the other things advisors do in their day, not so much.
Implementing the hacker way:
Earlier this year, filings to regulators included a letter from Zuckerberg to potential investors, in which he described Facebook’s core values. One of those values is something called “the hacker way.”
While hacking has come to have negative connotations involving taking down computer systems, Zuckerberg describes hacking as a mindset of experimentation. Doing things quickly and inexpensively as a vehicle to test the boundaries of what can be done, and then striving to constantly improve and perfect initiatives once in the field. In fact, some of Facebook’s most important features have emerged from that mindset of experimentation.
July 1 is two months away; not only does it represent the beginning of summer, it also marks the mid– point of the year, so you’ve got 60 days before 2012 is half way over.
If you haven’t achieved all of your goals for 2012 (and who among us has?), consider applying Mark Zuckerberg’s mantra of “Better done than perfect” in your business. Pick one initiative that you’ve run into roadblocks on because you haven’t had the time to execute it to a sufficiently high standard. Then think about whether taking a “just do it” approach might break the logjam and begin the process of iteration and improvement to get that initiative off the drawing boards; and into the marketplace and help move your business forward.
Tags: Accountants, Amount Of Time, Bear In Mind, Ceo Mark, Dorm Room, Facebook, Financial Advisors, Financial Planning, Founders, Heart Surgery, Immense Amounts, Logjam, Many Things, Mark Zuckerberg, Perfectionism, Private Marketplaces, Public Purchases, Quarterly Newsletter, Reading Articles, Substantial Wealth
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