Three Lessons from Facebook last week!

Last week we wrote a number of articles on Facebook but this is because they are such an interesting company that are getting so many things right. We are well aware Google+ bought out a product which allowed group chat(Hangouts) but Facebook know that the majority of people have one-to-one chats and launched their video chat feature.

Facebook have given businesses people lessons for years now and we managed to see some just last week

1. Get your product right - make sure the consumer loves it then start charging for it - this could mean market research first & knowing your customer - Facebook have data on over 750m people.

2. Innovate - because once you have a great product then people will copy and it's important to always be one step ahead - but for Myspace and Skype partnership in 2007, may have been to early.

3. Stay Efficient - if your not efficient enough to do something then outsource or partner with someone who has the resources such as Facebook and Skype - Spotify are also reported to be reaching a deal with Facebook.

Let us know what you think...