Starting a Business

Starting a Business in Silicon Valley

Starting a business anywhere in the world is not an easy task. In many countries, if your business fails, then you will have not only the unpaid debt but the reputation for being a failure in life — forever.

Consider the worst aspects of starting your own business: 

1.  No income (until the business starts generating extra income). 

2.  No respect (if your business is not successful). No community support (until your business is successful).

3.  Everyone thinks you’re crazy for taking the risk of starting a business.

4.  If you fail, you will owe all of your creditors the money you owe them for products and services — for the rest of your life. There will be no inheritance for your children.

5.  Everyone in your community will be suspicious of you for trying something so risky and stupid.

Why would anyone start their own business if all your friends and neighbors would think badly of you? Starting a new business is very difficult. 

eBay is an example of a successful Silicon Valley start-up.

eBay is an example of a successful Silicon Valley start-up.

Silicon Valley is different and here are some reasons why: 
One of the best places to start a new business is in Silicon Valley. Many other countries do not offer these advantages:

1.  Role Models – many other people have started businesses and have been successful.

2.  Your friends and neighbors generally accept the idea that you’re taking a risk.

3.  If you fail, there are lots of people who will admire you for trying.

4.  If you incorporate your business and ultimately fail, you will not lose your personal property. 

5.  If your personal property was part of the failed business, you can declare bankruptcy and eliminate all of your debt so that you can start over again, without debt.