What's the lesson he had learned the outgoing CEO of MySpace?

Several months after leaving his post as CEO of social network MySpace failed Michael Jones shares the lessons learned

Learn what social network MySpace CEO in which he served two years in office and tried to save his company shuffling? The five key principles to his work was published in the magazine Fortune, Michael Jones. MySpace was purchased in June 2011 by the company Specific Media, a move marking the end of his term, and now He looks at this period retrospectively"I wanted to know if I can revive the brand's heritage online faced many challenges, I wanted to learn how the body works great communication from the inside out and I wanted to work in my city - Los Angeles," he explains why he took the job problem and admits to re-launch social network - entertainment content center "did not attract the number of customers they hoped".Why did the task? "Ultimately, our base stopped us. Many other Internet businesses face the same problems," he writes, and lists the five lessons he received:"No product that attracted users to come back every day." MySpace 

1. Customers have a long memory for brands. This was a mistake to keep the MySpace brand, and would have been better to launch an entirely new brand. No matter how the product has improved and some improved marketing message - the memory of the consumer brand was too strong to allow them to look on MySpace in a new way and with an open mind. "Great advertising campaigns failed to change Internet companies," says Jones, and cites the example of Yahoo. "The digital world is easier to establish new brands than fix problems momentum of historical brands," he says.

2. Useful stronger entertainment. "We did not have a product that attracted users to come back every day, despite the strong entertainment value of MySpace. The market and consumers would rather useful for entertainment because the consumer creates an ongoing relationship with products that make life today - his day easier."

3. Momentum image = image value. Market decide the value of the product based on what seemed his momentum. For start - up companies, the momentum is really everything. Although Slmaisfais August 2010 were still 100 million users a month and billions of views and streams songs - its market value dropped, because its uptake was falling momentum.

4. Change in large organizations must be focused in extreme measures. Difficult to change large companies with regular practices without exchange of manpower. "We found that any change in personnel led to greater efficiency in decision making and product development, but it was not extreme enough to achieve the objective of the task enormous we set for ourselves. Only through great changes and 'interference' control system we were able to change the path the organization for the news and begin to see Mrs. efficiency. the ability to display a new life in business is essential for adult long-term success. "5. One main entrance - one failure point. Many large Internet business has a single entry point, beyond which users find many different products. This makes it difficult to separate the failed and successful products makes it difficult to monitor these differences in usage between those.Currently working on the company Specific Media's another re-launching MySpace.According to leaked information, the community's vision is to become number one in music and enter the energy of youth culture everywhere. Company would like to present musical content of large and small labels and pay audio and video streaming with