Why do some geographic areas — such as California’s Silicon Valley — produce so many entrepreneurial companies?
Entrepreneurs are people who sacrifice the security of a regular paycheck for the freedom and flexibility to build their own business. Be they empire-generating gurus like Steve Jobs or lesser-known, self-employed freelance writers, why do some individuals forego traditional business structures to branch out on their own?
Workplace peers are one important influence, say researchers. Those who work with former entrepreneurs are more likely to start their own businesses.
This piece originally appeared in Stanford Business Insights from Stanford Graduate School of Business. To receive business ideas and insights from Stanford GSB click here: (To sign up: https://www.gsb.stanford.edu/insights/about/emails)