Is ‘X’ the right place for your company? I don’t know. A few things to consider:
January 23, 2013 Leave a comment
Ask yourself some questions and by the time you get answers, you might have reached a decision as well.
- Where do you want to live? Presumably you are building a company to build yourself a better life, and where you live is a big part of your life. Where iare your family and friends? What are your hobbies? Don’t move if you won’t be happy. Being successful in business and miserable in life is pointless.
- How long do you want to do this? If you want a long career in startups, you want to be in a hub. If you just want to do this one startup, maybe not.
- How many employees do you need? If you want to build a 10-person company you can do it anywhere. If you want to hire several thousand people like Facebook or Google did, you’ll need to be in a major startup hub.
- Where are your partners and potential acquirers? Being close to them is a major advantage.
- If you are a B2B company, where are your customers? You will want to be close to them, especially the larger ones and ones you want to work with when you are doing customer discovery.
- Do you need to raise a lot of money? If so you want to be near investors. If you are starting a lifestyle business or a professional services business, being near investors is less important.
- Is your company unique? If you are starting a “me too” company it is true you’ll have trouble standing out in Silicon Valley, but you’ll have trouble succeeding anywhere anyway.
Anything more you want to add to this?