Study: My Understanding of Businesses

What are Some of the Things that Silicon Valley Can Teach Us About Entrepreneurs

The first lesson that we learn from Silicon Valley is that entrepreneurs are not for a sellout. This is because you never know what might happen to you in the next line. Take a situation of a software engineer who several people are in need of his knowledge for different amounts of money.

One buyer would wish to but the idea for a given amount while the other buyer would like to give the engineer start-up amount of money. At that point, you may not see what is right as every deal will seem lucrative for you. In the end, the poor software engineer decides to forgo one buyer not knowing what will happen with the deal. With this if you don’t have a proper plan on what to do with the money you may end up one of the poorest people around.

Also, it is also important that you do foundational work for starting your business. This is something that should be done before you go full steam with your ideas, products, and service. This will include things like a business plan, registration, copyrights and many other things. You should also plan several AdWords campaigns and incorporate all these plans into your overall business plan. One thing with this is that if you line it up correctly, your backers and investors will blow at your feet. Entrepreneurship is not as simple as some people may mistake it for fishing where you will just cast the net in the water and wait for fish to catch it.

On the other hand, some people also think of it as high school where things just move on smoothly with the help of professionals. Do not always feel satisfied with whatever you are doing but learn to press on. By doing this you will fall into many misfortunes like unable to support your business, pay your employees, unable to cash your startup check since you never registered with IRS and many other things.

Another thing that this story teaches us about entrepreneurs is that they should not give away their sauce. Your secret is your weapon, and you should not give away what you have but instead learn from others. This is because your secret can help someone to succeed as you fail on the other end. Your secrets and moves should always be confidential, and you should not trust anyone with it. They always say that the more eyes on it, the more successful it will be. The worst experience is seeing an opportunity that you missed like one person becoming successful with your ideas.