Factors that Motivate Mark Zuckerberg to Become a Successful Entrepreneur

This report explores the factors that motivated Mark Zuckerberg to become a successful entrepreneur, including personal growth, feeling of accomplishment, and passion. It also discusses different theories of entrepreneurship, such as psychological, sociological, and economical factors. The report concludes by highlighting the impact of these factors on Mark Zuckerberg's success.

Entrepreneurship

Contents
INTRODUCTION...............................................................................................................................3
MAIN BODY.......................................................................................................................................3
CONCLUSION....................................................................................................................................7
REFERENCES....................................................................................................................................8

INTRODUCTION
Entrepreneur can be describe as the person who is responsible to conduct business activities
in order to achieve more profits as well as take all financial risk. There are different skills and
capabilities of entrepreneur that support on effective and efficient performance of business
activities (Burns, and Dewhurst, 2016). Entrepreneur is developing and offering new and
creative products to customers. This report is based in Mark Zuckerberg. He is known as the
co-founder of Facebook which is leading social networking site. Mark Zuckerberg was born
in 1984 in New York, U.S. He started Facebook at Harvard in 2004 at the age of 19 and from
then to now, Forbes claimed that Mark’s net worth is over 73 billion. This makes him more
successful an entrepreneur in worldwide. This report will includes different factors that will
motivate Mark Zuckerberg to perform business activities in most effective manner. Apart
from this different various entrepreneurial theory are analysed such as psychological,
economic as well as sociological theories.
MAIN BODY
Entrepreneurship is an act in which individual always play a tough game and is certainly
not meant for those who cannot go through a difficult time in their whole life. It is also
known as a process of creating, launching or starting a new business in the market on the
basis of own ideas and thoughts. Individual who create design a business is known as
entrepreneur. For this, an individual must have sufficient skills and abilities to deal with
future market contingencies and instability so that their innovation cannot be much affected
in adverse manner (Fayolle and Gailly, 2015). Apart from this, sufficient amount of resources
must also be available that will be used to implement business thoughts and ideas into reality
so as to achieve long term sustainability in market world. In the journey of entrepreneurship,
there are several factors that usually motivates a person to become entrepreneur on the basis
their innovative though processing. Some common factors that are motivate an entrepreneur
are:
 Personal Growth: For an individual required to identify the actual reason for
becoming successful entrepreneur. As Personal growth is a reason behind the aim of
individual to serve their ideas in the market.
 Feeling of accomplishment: In individual, a feeling of pride and a sense of
accomplishment always initiate them to offer quality of services in the community
through which they attaint their objectives as they desire for (Fisher, 2012).

 Passion: Passion is a most important factor that encourage a person to carry out their
business in the market as well as become a successful entrepreneur. By identifying
own passion, individual can take calculative risk which involve several opportunities
for them.
To become the successful entrepreneur, it required some sort of distinctive
characteristics that rarely found in ordinary people. Mark Zuckerberg who is one of leading
founder and CEO of the Face book a social media platform. In just the age of 24 he become
the world’s youngest billionaire and his website reached up to the 900 million active kind of
users (Mark Zuckerberg, 2020). To become the world’s successful entrepreneur required
some sort of rare characteristics or factors that found in Mark that are as follows:
He believed truly in what he was doing: To become the successful entrepreneur
required the lot of time and efforts, it not just occurs in office hours. In the early age while
the Mark’s friends were partying, he would always remain in his dorm room and
continuously working on coding of website until in the morning. It is very much difficult to
put such a long hours of hard work to build the company from the very ground level. Without
truly enjoying and believing own efforts an individual not able to gain the desirable outcomes
(Grégoire, Corbett and McMullen, 2011).
Always prepared oneself to take criticism: In the early days of Facebook till to
become the world’s well known social networking site, Face book encounter number of
setbacks that hinders any individual’s morale. It not only limited up the legal pursuit by their
former founders but also it intermittently banned in several countries. Instead of respective
circumstance Mark and his team deter minded and hopeful towards their efforts and
capabilities.
Always dream big: It is not possible for any ordinary individual to start the project
from his college dorm room took such a mammoth worldwide phenomenon (Henry, Foss and
Ahl, 2016). Mark was aiming to reach at one billion users in a day that shows that he always
dream big for organizational achievement and development that directly enhance
sustainability into the marketplace.
Theories of Entrepreneurship
There are different types of entrepreneurship theories that is develop for providing
guidance and support to entrepreneur. So that they can carry out activities in correct and

effective manner. It is crucial for entrepreneur to analyse and evaluate different theories as
this will assist in better decision making. Theories of entrepreneurship is related to
psychological factor, social factor as well as economical factor. These theories will lead to
have significant impact on entrepreneur. Different entrepreneur theory and its impact in
entrepreneur is mention below.
Psychological factor – This factors consist of emotional as well as other mental aspects
of entrepreneur. There are different psychological factor that will have impact in decision
making capabilities of an individual. Psychological theory of entrepreneur state that
entrepreneurship will get growth when there are sufficient individual with necessary
psychological characteristics in the society. The major psychological characteristics can be
describe as the need of achievement, capability to face opposition and foresight vision (Kiss,
Danis and Cavusgil, 2012). Psychological theory is classified into different theory such as
McCelland’s Theory and Action regulation theory. These theories are described below –
 Action regulation theory – This theory is developed by Michael Frese and motive of
introducing this theory is to identify different ways through which an individual
control their cognitive behaviour. This will consist of a proper procedure that includes
planning, selection, creation, orientation, control and monitoring. It has been
determined through this theory that human action determined with different
dimensions. Planning dimension is very crucial for an entrepreneur as this will
support in providing direction in order to accomplish desired goals (Light, Bhachu
and Karageorgis, 2017).
 McCellenand’s thoery - David McCleland has identified and analysed that actions
and activities of an entrepreneur is majorly dependents of the need of achievement.
This is the major factor of an individual that will have impact on their performance as
well as ability to conduct task. Personality of an entrepreneurial emphasized by the
need of achievement, power and affiliation. Motivation for achievement is very
crucial for an entrepreneur as this will assist in gaining economical as well as social
development. Entrepreneur capabilities and personality can be classified on the basis
on their need of achievement as this will influence their overall capability (Naudé,
2014).
Sociological factors

Sociological factors played essential role in making Mark Zuckerberg a successful
entrepreneur. Mark Zuckerberg studied psychology and computer science from Harvard and
in his college time only he had the vision to be successful. He was accused for imitating idea
of his colleague due to which he had to go through from law suit. Along with this Mark had
faced so many criticisms from the society which fostered him to put stepping stone in front of
them and become a successful entrepreneur (Parker, 2018). Mark is really persistent as he
always took advantage of those factors which may affect him during his success journey.
When he started Facebook in the year 2004, he got attraction of so many venture capitalists
so this was his move towards his success story towards renowned entrepreneur. Further his
emotional stability lead him to cover his initial time in which his product was not launched to
the public and did not get much awareness form the population. In early age his father got to
know about his talent so he brought him a separate personal computer just after when he
launched communication software within his father’s dental clinic. So he took tremendous
advantage of his age and his experience. On the other hand his family has good relation with
society so this motivated Mark so as to perform better and to cultivate society. Whereas the
concept of urbanisation was well understood by Mark and to deal with this he launched
Facebook (Phillips and et.al., 2015).
Economical disciplines
Mark had limited resources with him and he optimally used them in order to take out
best from that and to cater society with highest value. Mark was focused on his decision
making skills, he always undertaken all the aspects and then only took decisions so that his
decision do not harm the society and economy. He was focused on the theories of economic
development at the time of working on the project of Facebook so as to assist his country to
enhance their economic position (Santos, 2012). He created lots of employment for local and
global region candidates which brought high skills in his business so that to make business a
successful venture and to enhance their personal development.in current time Facebook is
one the company who is employee centric and implements numerous strategies so that to give
maximum benefits to their employee this helped Mark in his journey and made him a
successful entrepreneur. Further he emphasised on human needs so as to convert them into
necessities he understood the need of social connection so well and then he propounded
Facebook which is the one of the most profit earning company as of now. On the other hand
Mark properly utilised the major economic resources which are land, labour and capital so

that to establish his skills over his product and to introduce his innovative product in the
market which helped him to become a successful entrepreneur (Welter, 2011).
CONCLUSION
It can be concluded from the above project report that there are various factors that
drives and motivates an individual to become a successful entrepreneur. For instance, Mark
Zuckerberg is currently one of the biggest successful entrepreneur and he made possible by
giving efforts, time and thoughts. As he always dream big and Always prepared oneself to
take criticism which brings confidence to move ahead and build their name in modern
business world. Apart from this, Psychological factor, Sociological factors and Economical
disciplines are such kind of factors that motivates Mark to think big and made it into practical
so as to achieve huge growth and success in future.

REFERENCES
Books & Journals
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
Fayolle, A. and Gailly, B., 2015. The impact of entrepreneurship education on
entrepreneurial attitudes and intention: Hysteresis and persistence. Journal of Small
Business Management. 53(1). pp.75-93.
Fisher, G., 2012. Effectuation, causation, and bricolage: A behavioral comparison of
emerging theories in entrepreneurship research. Entrepreneurship theory and
practice. 36(5). pp.1019-1051.
Grégoire, D. A., Corbett, A. C. and McMullen, J. S., 2011. The cognitive perspective in
entrepreneurship: An agenda for future research. Journal of Management Studies.
48(6). pp.1443-1477.
Henry, C., Foss, L. and Ahl, H., 2016. Gender and entrepreneurship research: A review of
methodological approaches. International Small Business Journal. 34(3). pp.217-
241.
Kiss, A. N., Danis, W. M. and Cavusgil, S. T., 2012. International entrepreneurship research
in emerging economies: A critical review and research agenda. Journal of Business
Venturing. 27(2). pp.266-290.
Light, I., Bhachu, P. and Karageorgis, S., 2017. Migration networks and immigrant
entrepreneurship. In Immigration and entrepreneurship (pp. 25-50). Routledge.
Naudé, W., 2014. Entrepreneurship and economic development. International Development.
Ideas, Experiences and Prospects.
Parker, S.C., 2018. The economics of entrepreneurship. Cambridge University Press.
Phillips, W., and et.al., 2015. Social innovation and social entrepreneurship: A systematic
review. Group & Organization Management. 40(3). pp.428-461.
Santos, F. M., 2012. A positive theory of social entrepreneurship. Journal of business ethics.
111(3). pp.335-351.
Welter, F., 2011. Contextualizing entrepreneurship—conceptual challenges and ways
forward. Entrepreneurship theory and Practice. 35(1). pp.165-184.
Online
Mark Zuckerberg. 2020. [Online]. Available through:< https://www.forbes.com/profile/mark-
zuckerberg/#4de039db3e06>.