Topic: Would you rather start/grow a business from scratch or buy an existing business? (Read 1625 times)

That's true, starting a business is not easy, and having enough money also doesn't guarantee that the business you are starting can run smoothly. because starting a business from scratch is not an easy matter because there will be many things that will happen including risks, many people fail in running a business because they cannot overcome the risks that occur, therefore before starting a business it is a good idea for us to learn all the things that related to the business that will be run, because clearly that will determine whether the business that is run will run smoothly or not. At least if you have knowledge about the business you are running, you can reduce the risk.

Sometimes, someone has an idea but doesn't have the money and vice versa, but in my opinion if they have an idea they can borrow money to start their business, provided they have to be sure that the business they are running can grow and generate profits for themselves. because there is a debt that must be paid and repaid.

This would depend on the circumstances and nature of business. For most of the business, starting from scratch would give you more options but it would take time and probably much larger promotions to get regular customers. Buying a business have less flexibility but if you can provide similar or better service and product than the last winner than you would start to have a good stream of money right from the start.
Someone who want to grow and make the business huge with time and money at hand should start from scratch but the people who want a livelihood from the business now could perform better with buying established business.

A businessman does not see whether the business needs to be built from scratch or buy a business that is already running. He only sees future opportunities and efficiency to achieve those goals. For example, Elon Musk, he sees that now and in the future social media is still a place where many people will gather, socialize and discuss many things, he also sees that payment system integration is a good thing and that's why he prefers to buy Twitter and integrating the payment system there compared to building a similar business from scratch because he could save time in many ways even though he had to pay more and lose money in the process.
Or when he built SpaceX, he saw the opportunity that commercializing space travel was a good thing, so he intended to build a business in that field even though it took a long time and a lot of money in the process, but it was not as expensive as buying a similar company and its technology too it's obsolete. Moreover, in terms of space commercialization, there is no rush so he can build his company from scratch. It is proven that he succeeded in building SpaceX.
So whether you want to build a business from scratch or buy an existing business doesn't matter, what's important is the potential of the business, the time to achieve the goal, and how a businessman can manage the business until it is successful.

There is a point, because before building a business or buying a business, we must realize about what business we really understand, whether it is in the field of selling or services and the important thing is not to let us choose a business that we do not understand at all, as you said that it is better for us to choose the type of business that at least we have had experience in the profession before because with that it will clearly make it easier for us to run it.

But on the other hand I think your advice will only be useful for those who are already experienced in the business world, while on the other hand it is not uncommon for people who have absolutely no experience whatsoever who want to start a business in the sense that they will start everything from scratch without any understanding, and maybe for those who have absolutely no experience inevitably they have to struggle from the beginning and go through all the processes with mistakes and failures that are very likely to occur, about that I think it really depends on them, if for example they have a very strong determination in running their business then I think they have a pretty good chance of success but if for example they are one of those people who do not have a strong mentality then maybe they will be one of those people who fail halfway, which is why it is very important to have a very thorough preparation in any case at the beginning of the involvement especially for those who just want to start.

It's not easy to start a business, having a money doesn't ensure that a business will start and continue smoothly. Buying an existing business has its advantages because it is already operating smoothly and you won't have to start from scratch to build one, instead, you can contribute your ideas to ensure that the business continues to grow. I've seen a lot of people who want to launch a business but eventually give up not because they lack funds, but rather because they find it difficult to start from scratch. Many people have failed in their attempts to launch a business, which is why, if they have an idea, they choose to go after an existing business.

We also know that Elon Musk bought The X, formerly known as Twitter. This is not because he lacks the funds to create his own social network, rather, it will take him more than a year, so he chose for an existing one instead. It's still up to the individual, in my opinion, but if I had the money to acquire the company, I would probably prefer the existing business. 

Big companies do buy companies and if you are able to do that, means that you have a successful business and that's why you can acquire other businesses that you think you're able to grow and control.

It is the same as starting and growing your business. Everything where our money is in the line involves risk, whether they're high or low risk, they're just the same in terms of talking about the risk because some may calculate the risk that they take, others don't. As long as they know what they are up to, that's what matters to them and if someone who's good in handling risks and able to grow businesses, that won't even be a question to them.

I agree but not all businesses grow and most of them fail during the start.

That's true but you can get mentors when you start so that you'll be guided but every result will still depend on your dibs and that's why either of the two, the results will vary and dependent on your hands. Everything that you are involved with, you'll have to apply all of it, experience, mentorships, guides, etc.

If you are a businessman and you are looking to buy a new business or involve yourself in a new business then you must choose the type of business that you already have an idea about. A business you have no idea about but you won't like or a business you won't buy. We who are traders and those who want to buy from one business to another but try to get enough knowledge about the new business before buying. That's why it is important to get an idea about the new business because if we don't have an idea about the business we can face a big financial loss in that business. It's not really up to you or me, but the trader thinking of starting a new business will decide for himself which new business he should buy.

A business that can be run under your own control from the start is definitely a good initiative as a businessman. However, many may find it easy to build a new business from an existing business, but in reality it will be very difficult if you do not have the proper skills to manage that business. Because when you take the existing business for management, there will be some changes and if you cannot take proper decisions and necessary measures about that business then you will have to suffer in that business. We have seen Traitor change ownership where Elon Musk is the wisest and one of the richest men in the world. After he purchased Twitter, some of his new policies seemed to be detrimental to Twitter, but he has gradually tried to resolve the situation amicably. As he has excellent knowledge about IT. So he will not suffer. But anyone else could have failed to sustain its popularity in this concern.

Depending on your money you have to start a business, if your money is more then you can buy a business. In my opinion, buying a business would not be reasonable because buying a business involves a lot of risk.  If you start a small business, it will gradually grow and success will come. Start a business with your wits You'll never start a business with someone else's wits, and it's best to start a business by trusting your own wits.

  Starting a business is not a cup of tea. Those who dare to start their own business and make them successful, live their life. There are many advantages to starting your own business.I would prefer starting from scratch because the only way to really start a business is to do it from scratch.
   
   

Buying existing business doesn't seem reasonable to me. But if you are at a big stage then buy it. It depends on your money and position.  Because if you don't own enough money, you have to buy small business because of which you can be a victim of scamming.  I would say that you should start a business with your own intelligence. It is better to start a business with your own skills and take it forward.  It's also fun to run a small business on your own.

True, therefore it is not uncommon or even a lot of some business people who end up failing in the process of fighting for their business, some people may only focus or focus too much on what is called success, I understand that is good but if you come without bringing any preparation then obviously I will say you are careless or even stupid. I only mean to blame those who do not bring basic preparations to start their business so of course in the absence of any preparation, especially to minimize all things that are not wanted, it is clear that something potentially bad can happen which can ultimately make our business stagnant without profit and what happens is that losses dominate.

Risk is really something that needs to be prioritized, it will not be as smooth as we imagine because the times are getting more modern which means that there are already very many competitors who have a better chance with the finances and preparations they have, at least building initial plans, conducting market research to find out what is being needed by the community at that time, having sufficient capital, having a strong mentality, never giving up, having high creativity and finally having good risk management management, I think with such basic things as preparation will make us more able to compete in business in this modern era.

You know it's better to start a small business; we ourselves will grow it, and we know the hardships we will go through here, because this will be our testimony and chapter of our lives before we become successful in the future.

It seems practical for people who are not rich, but if you are rich and you want a business, of course, in the traditional way, if the capital is big, the risk is also big, and if the management is right, the profit in the future is also big. But if it's a small capital, if you're determined and full of passion, the small capital can turn into a big profit in the future.

Starting a business is indeed very difficult and full of risks of loss, but when you have prepared carefully and written down all your requirements and even thought about the risks when something undesirable happens, you will create a mature backup plan too, which you need to pay attention to when starting a business. Check market conditions and whether the product you want to have is in high demand or not. If the demand for the product you are selling is high, then it will be easy to make a profit, and the business you are running will definitely be easy to run. So paying attention to the market is also very important so that you don't start the wrong business.

Well, there are risks in the two options. First, in growing your own business from scratch, of course, there are a lot of challenges in building up a business and making it grow or survive, but the thing is, of course, you will not build a business that you will let die out or go bankrupt, so you will know how to manage the business. Secondly, in buying an existing business, what is the reason why the business sells? Maybe there is a reason they are not doing well and can't maintain the business well. Though it is risky, it will also be an advantage because you already have the market and the customers; you just have to polish the business more to grow it and make it survive. In business, it's all about how you manage it and how you think rationally about your business. It's up to your skills to decide if you will succeed or not.

While it's always an edge if you grow your own business out from a scratch, but if you have already the knowledge and skills to grow a business, then starting a new business or buying an old business does not matter at all. What's important is you know how to establish your brand and maintain competition with other nearby businesses. That's the only way where your business will boom and grow in time. Otherwise, if you rely on other people to grow your own business, you can never guarantee success from your own business.

I think starting a new business comes with a lot more challenges that buying a franchise. Buying an existing business only needs consistency while the other one needs trial and error. But before jumping into one of the two choices just make sure to do a lot of research.

It is indeed quite reasonable for every businessman when he is unable to handle every thing that arises while his business is running, because the main pressure usually comes from the business competitors themselves so every businessman has a duty to prevent his old customers from fleeing to other places with more differentiated service. So it becomes a pressure that comes naturally when a place starts to develop and a business starts to become famous throughout all corners and regions.

Basically, everyone has their own ideas for developing a business, so there are those who prefer to develop it from scratch and there are also those who prefer to manage a business that is already running. But I think both can be quite good to do even though each person's level of competence is different as in what you have said above where it really depends on the person as well as on the ability to handle it better without complaining about the pressure that can come with himself regarding the business he runs.

That makes sense, it's true that someone will not sell their business just like that if the business they are running is profitable, because it is also clearly a positive thing for themselves.  In my opinion, instead of buying a business but having no knowledge at all, it is better for them to invest in a business that is on the verge of bankruptcy, as long as they can choose the business they will invest in it will clearly generate profits later, and I agree with what you said, they must have good knowledge in the business they are transferring to continue to grow and be profitable.

Building a business from scratch is not as easy as turning the palm of the hand, but in my opinion this provides a good experience as well as many lessons that we can take from each process as well as the results that will make us satisfied if it is successful in developing and profitable even though it is difficult in my opinion it is not a reason not to do it because, success is on the side of people who want to try their best, that's what I think, I don't know if according to other people.

Usually an existing business is sold if the owner did not calculate his forces, did not see the pitfalls, or if the business was conducted incorrectly, the location was wrong, or the initial investment was calculated incorrectly, or if in fact the business has low profitability. Therefore, of course, it is better to start a business from scratch, rather than buying an existing business