You must have heard of the most popular Social Media Platform – ‘Facebook’. Facebook got its originality on Feb 4, 2004. There are a lot of exciting stories related to Facebook. The co-creator of Facebook, Mark Zuckerberg, has always mentioned about their struggling journey towards success. He is a very good motivational speaker. He is a very active person and loves to share his memorable experiences with others. According to a recent survey, it is confirmed that Facebook is having more than a billion of active users per month. With this impressive number, it’s obvious that the revenue count of this social media company is also high.
You should have heard the news that Facebook is acquiring many small companies. In some recent years, it has acquired over Instagram, WhatsApp, and Oculus. All these companies are now under the roof of Facebook. But do you think acquiring such companies would have been an easy task for Mark Zuckerberg. In a recent testimony at the Dallas courtroom, Zuckerberg shared some of his rare insights regarding how he moves out with acquisition plan in mind.
So here are certain points he focused on:-
• Building a healthy relationship with the clients makes half of the work – According to him, it is very important to get socialize with the clients. Though it’s a business deal, but first you need to get yourself involve in their activities. There is no deal cracked without a piece of trust. He uses to build good relations with the founders of the organizations. He is actively involved with the main workers of those organizations. This relation building habit actually helped him a lot in closing deals with WhatsApp and Instagram.
• Show them a profitable side – you need to give your client a strong reason for why he will choose you?
If you will not provide a strong reason, which will motivate the client to think about the deal, then it’s not going to work. He closed the deal with Oculus under $4 billion. He says that they both had a profitable collaborative vision of working, which attracts the founder of Oculus to go for an acquisition.
• Show them a painful side – Sometimes it is necessary to go out of the line and do your work. In case, the deal is not going on. You need to show your client that, if they lose you, then what are they going to miss. They should be warned about the struggle and fund related issues in the market. With the fear of losing their brand name, they will surely move for acquisition.
• You need to be very fast – If you are not fast with the dealings, then there are chances you might lose the deal. Everywhere there are competitors who are just waiting for your single delay and mistake. Maybe this competitive spirit will force you to work fast, as you don’t want to lose over this fabulous deal. This may be the key strategy of Facebook in beating his competitors like Google, Twitter, and Apple and so on.