What Silicon Valley Gets Right and Wrong About Entrepreneurship
While the HBO show has drastically skyrocketed in popularity, the actual Silicon Valley itself has begun to experience problematic issues surrounding its workaholic environment. Understanding what Silicon Valley gets right and wrong about entrepreneurship is important whether you are an entrepreneur yourself or if you are interested in investing or seeking out investors for a project or business you are working on.
Unicorn Startups are Unrealistic
In most cases, attaining success and worth of millions (or billions) of dollars does not happen overnight. Entrepreneurial success often requires years of hard work, commitment, and a dedication to a specific product, service, or market. Achieving “Unicorn” status or status that deems a business worth more than 1 billion dollars is simply unrealistic on your first attempt as an entrepreneur.
Overnight Success is Not Always Positive
Attaining overnight success is an extremely popular dream and aspiration of many entrepreneurs who venture into Silicon Valley. While overnight success is appealing at first glance, it is essential to maintain a steady pace of growth to keep total and complete control over your business. Overnight success can help entrepreneurs financially, but often requires a much larger devotion and commitment to maintain its progress once it has peaked in a relatively short amount of time.
Competitiveness and Jealousy is Not Always Beneficial
While it is always expected to experience a bit of healthy competition while getting involved in any market or industry, jealousy and extreme competitiveness have drastically skyrocketed in Silicon Valley. When you are envious, jealous, or even bitter about the success of others, you lose valuable time that is necessary to build, scale, and expand your own business. Focus any negative energy you have on boosting the overall success and expansion of your brand rather than spending an unnecessary amount of time on the success and growth of others.
Reviewing what Silicon Valley gets right and wrong when it comes to entrepreneurship is extremely valuable if you are looking to move to Silicon Valley or have a passion for launching startups and apps on your own. When you have a complete and thorough understanding of what it takes to work and live as a successful entrepreneur, you are much more likely to make the right decisions when moving forward in Silicon Valley.