When we watch The Social Network movie, we will learn so many lesson about business development of social network websites.
Some rich Harvard’s students had an idea to develop social network application that help students connect and communicate with each other. They had idea, money and self confidence. One thing, they didn’t create it by themselves. They hired some students who are familiar with website and database programming. They told them about the idea, how the social network will work, who are the user, how they register into the system and what kind information in the system. The programmer will realize the idea into the website. Unfortunately the programmer had another interest to join another company after the graduation.
The rich students must continue the idea to create the social network that connect the student. They found another student to continue the source code. The new programmer must learned the previous web code and continue the coding. New programmer come and then left the agreement due to another job opportunities. After many changes of the programmers, the rich student found another programmer recommended by previous programmer. They made a oral agreement to complete the websites. The new programmer agreed to continue the project. He learned a existing source code and promised the finalization of the web project.
After some communication through email conversation, the programmer said that it’s hard to complete the web project. The rich student became furious. They tried to find the programmer, but never met him. After months by months, the programmer launched a website which had similar idea with generated by rich student, eventhough it had different website title. the college newspaper published the article about the growing of this websites. Many students registered to the website and connect with each other. They put their personal information on the website freely. The rich student were furious and sue the programmer because he stole the idea and the source code.
It’s very great story. Every business school will always put this story in every business case. It’s all about creation of business idea and execution of the idea. Every business is started by simple idea. People discuss the idea brainstorming. They generate some ideas, prioritize the best idea, execute the idea and release it to the market. The business is primarily developed based on simple or complex ideas. The more important thing is the idea execution.
To execute the idea, people need resources. The resource should be knowledge, skill, money, tools, networking. In this case, the idea was great. In the beginning, the skill was not enough to finish the idea. In the end, good skill from right people, become key resource to finish the project. He will understand how to execute the idea into real output. Money and market network also play role in the development of this business. Money will be used to buy some tools and invest in the market. We must have all key resources to accomplish one project. So don’t miss the key resources.