Instagram Founder Kevin Systrom's Tips for Entrepreneurs
Kevin Systrom, apart from being the latest entrant to the 1-billion-dollar net worth club, is a co-founder of Instagram, among the most popular social media channels, primarily catering to the youth and focusing on image sharing tools. Systrom managed to create a product that was eventually bought by Facebook, which earned him cash and stock and made him a billionaire.
Some of the tips by him for entrepreneurs are:
1. Don’t Spread Too Soon
When Instagram was acquired by Facebook, it had 13 employees. It is best to have fewer employees and save until the company is ready for the next level of growth.
2. Build a Platform that Helps
Revenues will follow if you have created a product or a platform that actually helps a user with something. This will make sure the users register and get going. Focusing on making a helpful product and then getting users is the primary thing, and revenue can be generated and thought about later, even with a revenue model in place.
3. Learn the Skills
Since Instagram was all about being lean, it required much of the learning and the skills. It is important to learn skills, especially in today’s environment, and therefore one must do that to the best of their abilities.
4. Be Passionate
It goes without saying that passion is the driving force for all the entrepreneurs. It is very important because there will be failures, setbacks, plenty of mistakes, and often times when it all seem to be going wrong. During such moments, only true passion for the work you’re doing can help you out, and keep you moving.
5. Think and Dream Big
In 2011, Systrom openly shared his dream of creating a “social tool for social life on the go… we want to change the way people communicate and share in the real world”. He continued his work, yet he had this big dream which eventually turned to reality and Instagram is among top 5 most popular social media channels.
6. Success isn’t Immediate
While people will talk about the drastic success and the immediate change in fortunes, turned luck, and so on, success is a long process, and it can be traced back to its roots. However, that doesn’t make for an appealing story generally.
7. Fulfill a Purpose, Name Aptly
Apt naming of the product, and making sure the name is as per the purpose it is supposed to fulfill, and the product is also fulfilling its purpose are three steps that can help in the longer run. Instagram, for example, is an appropriate name for a social media photo sharing channel on-the-go. A good, appropriate name, is often an undermined but important step.
1.1 billion dollars is the current net worth of the Instagram CEO, and he continues to grow because of this amazing product he once thought of and worked hard on seeing it to completion. Facebook has acquired Instagram, but it will always remain a product of its original founders.
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