The debate about building a technology startup in Silicon Valley vs other places has gone on for years, and will continue indefinitely. Inevitably, when reading TechCrunch and following the startup world, the fact that the majority of high-profile startups and venture money are in Silicon Valley makes entrepreneurs think “what if I lived there?” I’ll admit, it has gone through my mind many times.
For me, when I read about the next company that got funded with a billion dollar valuation, I like to remind myself that I actively chose the lifestyle vs location trade-off for me and my family. Growing up in Florida, and having the majority of my family and wife’s family in the Southeast, we value being close to family. Another major factor is the quality of life for the money. Atlanta is one of the few really large cities where real estate has stayed affordable along with the other amenities expected in a metropolitan area of more than five million people.
The next time you think about how the grass is greener in a different city for startups, ask yourself about the lifestyle vs location trade-off and paint a clearer picture for yourself.
What else? What do you think of the lifestyle vs location startup trade-off?
2 thoughts on “Lifestyle vs Location Startup Trade-off”
Why not do it all. You can operate in multiple locations and sometimes this can provide business and strategy advantages! I want to be in all major cities not just one. Go where the business and money is! Lifestyle decisions are not what investors want, do they? And, even if you are the main owner, the focus should be on what is best for the business, customers and growth strategy. Balls to the wall and go for it. By the way, this doesn’t exclude Atlanta. If it is a developed industry without early mover advantage, status quo could be the right choice. As a business owner if you want to be the best you have to push personal boundaries ad grow, except for lifestyle companies.
For companies that can sell products without the need for an in-person meeting, location is increasingly less important. Unless your business has the need to raise serious capital, location isn’t critical.
If you’re motivated in business by the opportunity to provide for your family, location may be the most important requirement.