Topic: Would you rather start/grow a business from scratch or buy an existing business? - page 3. (Read 1543 times)

That totally depends on that person, don't you think? If I had business mindset or knowledge of it, I might consider both of them as a viable option. But if I'm someone with zero knowledge, both of them are risky. Although starting from scratch is slightly less risky than buying an existing one. What really matters the most in my opinion is experience. When starting from scratch, one can start small, try new things, experiment a little. But with existing business you have to cope with the previous management system. Study how it worked, what it lacked, how it should operate now. The responsibilities would be too much for a inexperienced person. 

I would prefer to build my business from scratch because those experiences are what make me a good entrepreneur. To build a business, you ought to know the best plan for making sales, which includes good customer relationships, a good marketing strategy, and quality products.

As a beginner, you are bound to lose and gain at some point and incur some challenges, all these make a good entrepreneur. But when you buy a business that has been built by someone, you are just like a stranger in an unknown land. You can never manage the business like the person who grew it. It will take a longer time to understand everything. You will not be able to prefer a solution when it is needed, because you didn't build from scratch.

If anyone wants to boldly sell his business even if the business brings profit or not the price will still be high, after buying such business how sure that business will stand or earn profit most especially when dealing with big business that needs new strategy every month. Before buying a business you need to consider the location cause a lot of business fall due to competition and if the new business can't withstand the competition the business will fall
I will not advice anyone to buy a business especially when the business is not standing strong, the strategy A use will be different from B strategy, buy a business when you know how the business works cause with the knowledge and resources you can buy a business.
Starting a business is just the best idea cause even with a little income everyone can start a little business, you just need a good strategy to grow the business.

This only applies to the big corporates who have enough experience and both financial and manpower muscle to take over without much challenges but for an individual it ends up as disaster as far as i have seen but it would depend on nature of business as different people have different mindset and business plans.

To make it clear everyone cannot acquire business and have a smooth transition and rather starting from scratch would help. These big corporates like Microsoft and others are successful and easily manages the acquired businesses because they started from scratch when they started their respective organisations and they are aware how things works.

We can go for whatsoever we are interested in especially if the funds is there. Getting funds these days is not easy and one would have to work with extra time before we earn good amounts of money that could pay our bills. It is good to start our business ourselves just like buying grown business too. Evening buying or partnerships with other businesses still has it own risks. It is good for us to start our business afresh so that we are sure and confidence to grow the business without any third party needed. If we are business owners I think we are going to know many things about businesses that would improve what we want to do.

Understanding the business is a small task if you buy an existing business than starting from scratch. Even with money, you can hire the best experts into your business from scratch and might not go anywhere but already established business have many advantages that can be quickly manage and scale through. For instance, trademark and company name is something marketing would have induced into the mind of the public but perhaps taste change can make the business experience low sells and if eventually the business is sold to a new person, a strategic idea can lift the business from that bondage to get more sales. However, if it was a new business you might have a big barrier to enter a market most especially if there is competition.

The two have their challenges but today where the economy is shack globally and within the countries, it is difficult to start a business, if the country is not doing well, your chance of survival in a business will be very low and as such, you risk losing your investment and the business because to resell it might even be difficult to another person at the original price.

The results would only be stable if you are buying a business that you already know about or you have been planning to start yourself. If you were thinking of starting a clothing brand and you go and buy a restaurant, I don't think you would be able to run it as efficiently as you could if you had bought a clothing brand or a clothing store because that's your area of expertise and you probably have more knowledge and experience about that craft which you didn't pick when buying a running business.

Buying a business that you know nothing about is no less than starting a business from scratch apart from the fact that a business that is already running would have regular and returning customers while a new business wouldn't have that. However, you will have to learn everything from scratch about that business because even if it's not new, it's new for you.

You've just said the pros and cons of acquiring business and starting from scratch.

Every business is certainly have that risk of failing. Because you are unsure if the first startup business that you are building will be in demand and good.

That's why to anticipate it is just for you to think of failure as a lesson. And that's why businessmen are expanding because of their experiences and learnings that've been made and gathered by them through those failures.

i'd argue that its gonna be different if we are talking about some small business, because sometime starting over might be worth it if the business is not that complicated also have the advantage of making our own brand under our own name.
if its business acquisition like whats done by microsoft or other huge corporation companies out there they seemed to buy the system that some company built including their patents as well as their talent and workforce.
so arguably buying by shelling out some money maybe through posession of majority shares or just outright buying the private owned company might make more sense as to not rebuild everything from scratch since building one is rather difficult therefore large corporation wouldn't hesitate to shell out some good money for them.
after all there are also possibility of failure in the way of building such system.

Those that have experience in business, it's easier to move on and buy businesses. This is what Microsoft and other huge companies does.

I think that you'll see your own progress when you're already on this point of way of your life in the business sector and that means that you're growing and making a better progress.

A business that’s being bought over by another business is likely headed to bankruptcy and would have to lay off its employees. This can be avoided by an acquisition. To avoid the mass layoffs and for profit reasons of course, another company could buy a failing business and then pump in both financial and man power resources to grow the business.

Buying a business seems to be more preferred than starting one. There’s still lots of work involved irrespective of whether you’re buying or starting one. You’ve got to be really wealthy to fund and bring a failing business back to life. Takes a whole of time, effort and of course, money.

I differ from your opinion on this, because entrepreneurs who want to buy a business already have high entrepreneurial knowledge compared to new entrepreneurs and already have a history of experience managing large businesses before, they also already have plans, budgets, and other things to develop the business. Sometimes they buy a business at a high price because they already know the potential for higher profits from the business.

However, if business people do not have sufficient knowledge and have a limited budget, then the right choice is to open a new business to improve entrepreneurial abilities in managing the business.

If it happens that I have enough money to buy a business, I’d rather buy a business than build from scratch. This is because building from scratch can be time consuming. Imagine if Elon Musk wanted to create his own twitter from scratch, it will take so much time to have the number of users that twitter currently has. But the disadvantage that buying a business comes with is that there are some customizations you can never change. There are things you’ll have to just follow the way there are and before you purchase the business, you need to know those things and know if you can work with that.

Start from scratch all the way.  
 
I do agree into your points that resuming or continuing those current existing business or buying them up would be also still that ideal specially if its a profitable business but one question would really be coming up into your mind mainly on which, if it was that profitable then why would their owners will be selling it? If ever they arent, why would they allow or would agree if someone do make some offers on buying it? It doesnt really make sense.Starting up from small would really be giving out that kind of chance that you are really that able to solve for yourself, you would be able to monitor out yourself that effectivel.
I agreeo what you have said that starting from scratch until it would become bigger then it does signify that you are really doing well.


Yes, you run from scratch is hard but the awareness and knowledge you do have on a business is great comparing that you are just simply buying it. Somewhat its true
that it would really be that simple on buying on specially that everything has been set up and you do really just need to run it with different management of course
but we know that there's still imposed risks when it comes to it. Doesnt matter on which one you would be choosing on which both
things will really be requiring that time and handling and budget and on everything.

This question is very easy to answer. The point is that you always need to develop in what you can do better than others. We all know how to carry bags on our backs and do physical exercises, but everyone can do them. This is not talent and you need to look for some kind of peculiarity in yourself and, based on it, build your business or look for a business in which you will understand more than others. That is, you need to get to know yourself and understand yourself as a person, and then pay attention to trends and your capabilities, because investing without money will not work. In general, it is not easy to start doing something towards your goal, but any road begins with the first step.

Before implementing the idea of buying a business i think the person has done proper research or may have planned very welll before making that decision. When i mean by planing, it involves studying the nature of the business, must had have the funds to buy the business (perhaps the plan would have taken the person some period of time to accumulate the money to buy the business), understand the risk involved and know the period of time it could take him/her to build reputation and customer trust.

If possible, I will buy an existing business, because a business that is run from scratch will be harder to run, and requires more time, thought and capital. Maybe by buying an existing business and even running it, the results will definitely be stable.

I would prefer starting business from scratch as that's how big brands and businesses starts because as per my experience and understanding one should know about every single thing about the business they are involved into and that's possible only if you start from scratch, also if someone is selling business either there are some challenges or its not the right thing to do hence they are selling off.I feel instead of diagnosing an problem and breaking out head by buying existing business it's better to start your own.

I prefer starting and growing a business from scratch this would enable me to make necessary amendment or correction if I encountered any problem with the business and as I grow the business definitely I would be gaining more experience on the business after many years in the business I would be able to tackle whatever issue that arises or occured having gained experience of many years on the course of growing the business, however it would absolutely be difficult to monitor an existing business without any prior experience a lot of businesses in my country requires some period of apprenticeship thereafter the person can startup the business I believe that is the best practice.

Making a brand purchasing already built a good reputation in the community is ideal if you want to grab the opportunity of getting demand like the food industry there's a lot of purchase of the business they made because people know already the product, the quality, and the service and there's nothing wrong here if you can afford.


This part if focused on being an Entrepreneur like solving what the community really needs and not just wants. If you have the time and effort to build your own business that if people like sooner or later it will have its own branding and there's nothing wrong here that you can make your own product with your own service and name. At the end of the day we are counting the net profit of the business if profitable or not to continue the journey.