Silicon Valley is a special place, where dreams come true. What makes Silicon Valley different? Why is it such an entrepreneur? Why are sprouts like weeds here? Innovation is the quality of life of economies and nations. Economic growth is often the result. Many other cities and countries have tried to copy Silicon Valley and yet nobody has been able to repeat its success. This is an insider response to these final questions.
At this point, entrepreneurship has been influenced by local culture. My daughter, who is in elementary school, does not have an annual scientific right. Her school has an invention agreement. It is not only expected that the children will make something that makes their life easier or better, but they are expected to write a simple business plan as part of their projects. This is the 2nd grade in Silicon Valley! Recently, I attended one of the most popular professional events held in Silicon Valley – Tech Titans of Tomorrow. The title may be a misunderstanding as these teens are more likely to be called Teen Titans today. This annual event invites young entrepreneurs to talk about their organizations and their products and ends with a meeting where young people throw their products to investors for funding. This year, one 17-year-old took money to set up an investment fund aimed at providing young people with funding to make their product ideas realistic. Another teenager got the power to set up central power stations in home school so managers could see what room and equipment was creating their big energy accounts; The result is $ 5,000 a year saving on their electrical bills for each school. But another had started his first business at the age of 11 years and had started three business since joining university college lawn service, a company that made accessories for handheld PDAs and information technology companies helped to what he called "old people like parents my grandmothers "with their computers and mobile phones. Yet another teenager was proud to have one of the best iPhone applications.
There was nothing like this since I grew up in New York. My parents expected to go to college and study science and technology, and continue to graduate from school – all hoping to get a good job for life with Fortune 500 companies. The environment my daughter is growing up in had been alien to me as a child. Entrepreneurialism is taught at the very first age of the Silicon Valley.
Ideas flow into the valley like a river. There are numerous technical, business and entrepreneurial groups everywhere. There are breakfast clubs, lunch roundtables, meeting-ups and evening pitch meetings. There are so many of these meetings and events that you must be very selective in choosing who to attend. An employer can find someone to talk to almost anytime, anywhere – 24/7/365. People present their ideas to meetings; They talk to colleagues and potential investors about them; employers gather feedback and clear and sharpen their ideas. Product concepts and new business models are banned on a large scale. There is a regional mentality. This is why, when an idea is revealed, tens of initials can be funded to pursue the same product.
Bill Gates, Michael Dell and Steve Jobs are the newspaper. For most people, they can also be novels in best stories. In Silicon Valley there are employers here, there and everywhere. Our neighbors and colleges around us all seem to be pioneers or know someone who has achieved their most successful expectations. We must not go far to find someone who has started a business: They live next to us or our children go to school with our children.
The technology company is experiencing success in the event of failure. We learn more from our mistakes. They define us more than our triumphs, and the Silicon Valley has had more mistakes than anything else. Access to "How to Do It" and "How NOT Doing It" is nearby, and everyone is willing to pass their experience. Most universities in the area have entrepreneurship and competitions. It's not just academic subjects in these universities: Many of those who are studying are retired employers who have started some interesting construction of Silicon Valley. In Silicon Valley, we call this "Mentor Capital."
Silicon Valley has immigrants from all over the world – India, China, Africa, Europe, Australia and all over the world. These entrepreneurial immigrants have left their homes and families – they are go-getters because they literally get up and leave. They are risky, they are highly educated, work long time, they are ambitious and are willing to work less than marketing. This great immigration effort has also given Silicon Valley a great advantage in the times of globalization with deeper knowledge and connection across the globe.
Silicon Valley people are purchasing power savvy individuals. Almost all work for options in Silicon Valley. There is even one recruiter specializing in finding "employees without payroll" looking for employees who want to work for 100% stock options until the start secures the first round of funding. It's not just employees. Service will also suspend payment until the beginners are supported by investors. Many owners of housing have not made their money from office rent but by replacing a monthly renting test. Suppliers will also take shares instead of paying for equipment. The ecosystem of service providers, employees and investors is well-known in Silicon Valley, and that is not the exception – that's the norm. It takes an intense community to create and promote startups and innovation.
I recently held museums from Midwest that had never been to Silicon Valley before. They pointed out that people in the Silicon Valley people are unconventional and they do not have to be consistent. Silicon Valley employees do not expect to keep their jobs in life; most people do not even expect to do business for a decade. I read the average employee in Silicon Valley changes work every 18 months. Perhaps this is also part of the secret formula. As W. Edwards Deming once said, "Innovation comes from freedom. It comes from those who are bound to anyone. It comes from people who are responsible for themselves."
The life cycle of life in Silicon Valley begins when the venture capital fund, the angel investor or former startup company, provides seed funding for entrepreneurs with only an idea. If the idea is successful, this entrepreneur will be investing and that successful startup will create a group of companies to finance the next generation of entrepreneurs and beginners. And the cycle of innovation continues.