3 lessons in innovation from Facebook

Over the last week, Facebook has unveiled a number of changes to its platform, including improved friend lists, a subscribe button, news highlights and as of yesterday Timeline.  All week, i have seen people commenting in various platforms and sharing their opinions. Many of these changes have stirred some controversy. While I definitely don’t negate their opinions, what I do want to point out and highlight is Facebook’s ability to innovate. Mark Zuckerberg very eloquently reminded us as I watched F8 that Facebook has gone through many evolutions. We have watched a number of their competitors fall significantly short of Facebook’s success because Facebook does something their competitors struggle to do… INNOVATE. Now, I don’t work at Facebook, but I do believe they do a few things that help them innovate that any company, firm or professional can learn from.

1. Watch user behavior

Facebook pays attention to how people use their service. In Mark’s keynote, he specifically mentioned one of their first major changes to the platform was a result of how people were using a basic tool they provided. They used this information to find and easier way to people to share the information they wanted to in a more streamlined and effective way. This was the evolution of the status update and news feed.

2. Listen to what is being said about them

Facebook pays attention to whats being said about it in the market. Again taking from Mark’s presnetation, he acknowledged that users are now joining facebook because its the only way to stay in touch, but realized true success will come with engagement. He also noted that people aren’t using certain apps or features because they don’t want to annoy their friends. These are things I have heard and seen. Facebooks ability to listen and react by addressing and modifying what isn’t working for their users and see the trends has led them to some of changes they rolled our on Thursday.

3. Lead

Facebook doesn’t become complaicent just because it hits major milestones. They are constantly striving towards progress. They watch user behavrior and listen so they can learn. That learning helps give them insights that allow them to lead. It’s scary being first to market, but we do so when we are confident and passionate about what we are doing. Facebook’s CEO epitimizes this. I wish more companies had the same level of passion he expresses and believe that leading will help keep you relevant.

While not every company is Facebook, I do believe that professional service firms can learn a lot from Facebook. While we can’t reinvent the audit, a contract or some rules around investing. We can evolve how we deliver our service, make our clients lives easier and package our services. Take some time to watch how clients use your service, listen to their opinions, comments and feedback (note:you must ask for this) and then lead your market in finding easier and more effective ways to deliver your services.