I've been doing some thinking and wondered what is everyones take on the role your location plays in your ability to hit the fastlane.
Factors that may aid/impair your fastlane :
Climate/Weather -
As MJ mentions in his book he got seasonally depressed in chicago, so decided to move to arizona. Now this will vary more from person to person than some of the other factors, but for me cold, dark winter days (I'm from the UK) make me somewhat less motivated and more likely to stay in bed, procrastinate and generally lounge about than on a bright and cheery day.
Taxes, Legislation, availability of finance -
Living in a city/state/nation with a high rate of taxation and restrictive legislation will impair a fastlane business and ability to invest and grow a money system at an optimal rate. Cost of living can also undermine the growth of the system but is it better to live where opportunities, talent and capital are more readily available and accept the higher cost as a neccessary evil?
Having read a few posts and done some diligence, methods such as short selling real estate while popular in the US are much harded to acomplish over here in the UK where banks tend to be more conservative and credit and investement is harder to come by. The same can be said about rate of foreclosures and the opportunities they offer.
Local Economy -
For a B & M business factors such as legislation, taxation, employment rates, average income and competition within the area will all affect the opportunities available to a fastlane entrepreneur.
Job market -
Tieing in with the local economy point the availability of talented employees may be more limited/plentiful in certain areas and hiring or partnering with the right people can make a huge difference to the success of ones business, right?
High tech start ups seem to be all centered around the silicon valley area. It seems to me if you want to attract the top engineers and be on the doorstep of venture capitalists you need to head to the valley?
Oppurtunities arising from being in an undeveloped nation/untapped market -
I read an article about a pair of german brothers who had millions by simply taking ideas that had or were on the way to becoming very big in the US and recreating them for the german audience.
I believe one of their business' was pretty much an exact clone of facebook but in full, correct german.
Most sucessful tech startups seem to come from the US. Is their an opportunity to mirror the execution of said business' abroad. These daily deal sites for example, didnt until recently didn't seem to offer anywhere near the quality of deals available in the major US cities over here in the UK.
In conclusion, what are your thoughts on the role that location plays overall in building a fastlane business?
I have been toying recently with the idea of pursuing the american dream - moving to live in america after graduation to pursue my fastlane via either real estate investing or e-business for an undecided amount of time,returning to England at some point in the future if I so wish? HELP me out? :smxB:
Factors that may aid/impair your fastlane :
Climate/Weather -
As MJ mentions in his book he got seasonally depressed in chicago, so decided to move to arizona. Now this will vary more from person to person than some of the other factors, but for me cold, dark winter days (I'm from the UK) make me somewhat less motivated and more likely to stay in bed, procrastinate and generally lounge about than on a bright and cheery day.
Taxes, Legislation, availability of finance -
Living in a city/state/nation with a high rate of taxation and restrictive legislation will impair a fastlane business and ability to invest and grow a money system at an optimal rate. Cost of living can also undermine the growth of the system but is it better to live where opportunities, talent and capital are more readily available and accept the higher cost as a neccessary evil?
Having read a few posts and done some diligence, methods such as short selling real estate while popular in the US are much harded to acomplish over here in the UK where banks tend to be more conservative and credit and investement is harder to come by. The same can be said about rate of foreclosures and the opportunities they offer.
Local Economy -
For a B & M business factors such as legislation, taxation, employment rates, average income and competition within the area will all affect the opportunities available to a fastlane entrepreneur.
Job market -
Tieing in with the local economy point the availability of talented employees may be more limited/plentiful in certain areas and hiring or partnering with the right people can make a huge difference to the success of ones business, right?
High tech start ups seem to be all centered around the silicon valley area. It seems to me if you want to attract the top engineers and be on the doorstep of venture capitalists you need to head to the valley?
Oppurtunities arising from being in an undeveloped nation/untapped market -
I read an article about a pair of german brothers who had millions by simply taking ideas that had or were on the way to becoming very big in the US and recreating them for the german audience.
I believe one of their business' was pretty much an exact clone of facebook but in full, correct german.
Most sucessful tech startups seem to come from the US. Is their an opportunity to mirror the execution of said business' abroad. These daily deal sites for example, didnt until recently didn't seem to offer anywhere near the quality of deals available in the major US cities over here in the UK.
In conclusion, what are your thoughts on the role that location plays overall in building a fastlane business?
I have been toying recently with the idea of pursuing the american dream - moving to live in america after graduation to pursue my fastlane via either real estate investing or e-business for an undecided amount of time,returning to England at some point in the future if I so wish? HELP me out? :smxB:
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