The Valley of Silicon — located in the San Francisco Bay Area of California — is undoubtedly a very heady environment; however, this doesn’t mean every business should try to move there.
The example of Amazon and its search for a headquarters site. According to the NYT, cities all over the country have been vying to woo Amazon, and this week, the company announced 238 regions and cities that have put their proposals/bid packages on the table. Amazon will decide on location in 2018.
No doubt that all of the regions and the cities are jockeying to become the lucky ones chosen by Amazon, and therefore they’re pulling out all the stops to ensure that the city in question wins.
It’s wrong to think that the contenders for being among America’s “brainiest” will win the day. Despite all the advantages of living in coastal cities such as San Francisco and New York, it’s cities like Columbus, Ohio, Nashville, Tennessee, and other small, medium, and small-sized towns in the heartland that are the most likely to grow.
Consider a site to run your business before deciding where you want to choose to open a business. What are your HQ needs? Choosing a site and analyzing the potential in terms of your needs can yield a great return on investment while pursuing uniqueness.
We started Tallyfy in London in 2005 when we were two friends who could barely build a website. But from the start, we knew that we wanted to grow a business, which meant living and working in the US so that our customers could be reached better.
Arch Grants, a nonprofit organization that specializes in equity-free grants and pro bono services, gave us one of the grants.
That’s precisely why we researched to create this website. First, we learned that there are some Fortune 500 companies in St. Louis. Even better, nearly all of the city’s population are a good fit for our customer profile. This made it possible for us to study our customers in greater detail. We then decided to give it a go.
Even though we have been living off the coast of Silicon Valley for several years, we realized that Silicon Valley was less well suited to our needs because it didn’t have as many medium-sized companies as we could target. See if you can paraphrase the Original one without using synonyms.
In addition, we learned that we could still get funding from Silicon Valley while we did not live there.
Our largest investor is located in the States. Further, more talent, rent, and space cost more in the Bay area (because of stiff competition). With these conditions, we thought the Bay Area was a better choice for expanding our business, so we decided to set up shop in St. Louis — permanently.
What makes a city the right fit?
If you want to find a place to settle down, the main thing is the cost of living. It would be the best if you looked at the cost of housing, the cost of living, and the job market around there. Each of these factors has pros and cons, and it’s best to consider them before choosing where to settle down.
Besides the cost of living, whether clients can trust their business will survive online or whether meeting customers face-to-face is as essential as it once was.
Regarding technology, the employment outlook is not promising, but as a soft-skill service, technology startups don’t have to deal with face-to-face client interaction; however, both types of businesses can succeed by carefully choosing their working environments.
2. What level of talent can we get, and how much?
The talent level that one could expect from a telecommuting employee can be very high, and employees can be expected for a company at nearly any level of quality for a given salary. Some great telecommuting companies may cost an employee up to 100% more than what you would likely pay
A significant consideration in choosing where to live is determining which types of employees you find desirable to be moving to your city. You can select from different workers and figure out which is the most suitable for your city.
We didn’t like San Francisco’s culture because they are focused on technology, and it seemed to us that everyone there was a developer. On the other hand, in St. Louis, people were much more diverse; we could build a different kind of business in the city with less worry.
The startup culture in St. Louis made our startup successful.
Consequently, our startup was able to take off quickly, becoming an international company. In addition, the culture of giving preference to startups over other companies was a significant reason we chose to locate in St. Louis.
4. What is the cost of living?
Internet connections, affordable workspaces, and cheap internet connections are far more important to online businesses than an expensive apartment used to be a garage.
We don’t feel like we are unique that Managed Cloud Services; many of our competitors have also experienced difficulties headquartering in traditional tech hubs like Silicon Valley, New York, or Chicago.
5. How do you feel about it?
Last thing that you want to be running a company in the place where you want to live. An unhappy CEO won’t attract top-quality applicants, lead well, or like what they
Use your best judgment skills when it comes to picking your new headquarters location, but also consider schools, parks, restaurants, entertainment, and nightlife — all things that make the city more fun to live in.
4 Reasons to Stand by Your Midwest Startup Location
According to Daniel Kahneman and Angus Deaton, having a lot of money makes you about equally wealthy as having very little money. They found that people are not necessarily happier if they become wealthier.
The lesson? Don’t move to a popular startup area without first investigating why you decided to do so.
The question arises, “is there anything better than this” this will make you objective and be a good indicator for where to set up your company headquarters.
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