“For decades Silicon Valley has served as a tech mecca,
and blue chip firms such as Facebook, Apple, and Google
headquartered there are constantly in the news. However while
tech worker interest in Silicon Valley is strong, it’s hardly the
only place tech workers see opportunity—not by a long shot."
—Indeed's report on high-demand tech professionals. [Indeed]
Percentage of tech workers who plan to leave their
current jobs for another opportunity in the future. [Indeed]
Percentage of tech workers who consider working in
Silicon Valley to be "not important." [Indeed]
Percentage of all U.S. venture capital that goes
to the Bay Area in 2016. [WSJ]
Percentage of all U.S. venture capital that went
to the Bay Area in 1995. [WSJ]
"Why not choose both?" you might ask.
What starts as a low-cost, local business can eventually scale
(at some risk to investors) as demand increases. This is true,
but it's also useful to divide businesses into different
categories, with "low-cost" at one end and
"high-risk" at the other. Why would an entrepreneur
favor one over the other? Here are some responses from the
odds: A low-cost business is more likely to
have a return on investment, albeit a much lower return than
that of a successful high-risk startup company.
-Work/Life Balance: Many low cost business have small staffs and the
owner "does it all. But many high-risk startups require
injections of personal funds to stay afloat. Compare what you
think your business requires and what you and your family are
willing to agree to. Low-cost can also mean low-stress.
High-risk startup -Ambition: If you have ambitions to be something more
than just your average Joe entrepreneur running a hot dog
stand, then you have to take risks. Launching a startup is
your chance to aim big and produce a product or service that
changes the world.
-Income: Most startups assume the founders and the
key team members work for little or nothing for the first
year or two, while other businesses starting generating
revenue for salaries much earlier. What is your own personal
What do you
think? What type of business would suggest to other
entrepreneurs—especially those just dipping their toes in the
water? Please let us know!
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