Topic: Would you rather start/grow a business from scratch or buy an existing business? - page 4. (Read 1625 times)

yes exactly, because with us opening a business from scratch we will learn a lot of things related to business, as you said the business  aspects that we will certainly learn to apply in opening a business in the future. Because what I see in my country is a lot of people who open a coffee shop business like this but I haven't seen any coffee shops with a modern concept but there is also an old-fashioned concept so the impression is more clasic. with that I decided to open a coffee shop with a modern concept combined with old-fashioned. and I think this is quite reasonable for young people who like coffee or like to hang out.

Of course there must be confidence if you really want to open your own business, because if we want to open our own business but there is no confidence, it will give problems later, because with confidence we can be sure that the business we will run will produce its own benefits and can  develop in the future. If you don't have confidence, I suggest you don't open a business, rather become a part-time worker. Because indeed if to open your own business needs a strong determination and strong stance as well because there will be many obstacles that will be faced because of that there must be a strong mentality in opening your own business.

Of course, there must be self-confidence if you want to open your own business, because if you want to open your own business but you don't have self-confidence, it will give you problems later, because with self-confidence you can be sure that the business you will run will produce its own benefits and can develop in the future. If you don't have confidence, I suggest you don't open a business, it's better to be a part-time worker.
As well as the sale of products that can also ebb and flow, depending on us who market it whether we can market it well or not, because marketing will also affect the sale of our products, so as much as  possible marketing must be done to the maximum. So that it can attract people to visit our store and buy our products. For people who have a good dream must not know the word "give up", even if he fails in his business he will definitely try again by studying the mistakes that made his business fail.

For those who choose to develop a business by buying a business, of course they must have large capital and good skills in managing a business and they must also know well whether the business they are buying is in a state of profit or loss. Starting a business from the first will certainly be very satisfying for us because the business idea is purely from us and it will be easy to run it because we have prepared everything from the start and I am sure we will easily be able to carry it out well and when we have achieved Success in the business we build is certainly very satisfying for us.

If you are a professional businessman, you will choose the option of taking over a business because you have analyzed strategies to grow the business bigger, but you must have large finances to buy a trademark and buy all the details from the previous business owner.

But I am not interested in taking over a business even though I have business skills and financial support, but I will start a new business to increase entrepreneurship to build a business to achieve success.

Starting a business from scratch causes dealing with many problems from the very beginning. Taking over an existing business comes with its advantages. What we need to pay attention to is why are they selling the business we are going to buy? If the answer to this is sufficient for you, then taking over is a logical thing to do.

Instead of doing many of the things necessary to ensure that the business makes a profit while trying to establish a business from scratch, when we take over a business, these necessary things are already provided. There are many details and you should consider every possibility before making this decision.

Therefore, in my opinion, I prefer to open a business from scratch, because then we will know all the things that must be prepared and what we have to face in the future. The struggle that we do for a business of course if done seriously will produce positive things so that it can benefit us alone, by opening our own business there will be a sense of joy and sorrow that we will feel from what we are struggling to become a place that produces and is profitable for ourselves.

I myself have done it because currently there are many coffee shops for young people to hang out with their friends or do their work. I tried to take the initiative to open a coffee shop with the concept of the present in one with the past. time after time I went through the complaints and sorrows I felt finally became a good result with what I wanted to achieve and produce. But all of that has a struggle. So in my opinion, struggling as much as we can will have results because basically "effort will not betray results" this is what I encourage myself. Self-confidence is also important in this field, before opening a business there must be confidence in yourself and then also don't be afraid to move forward because when it comes to risk there will definitely be only it depends on us whether or not we can face that risk.

This is like the insurance agents that are naming themselves as financial advisor. But in literacy, they're good with the product that they're selling but they're not entirely educated in finance just because they're selling a financial product. I might have a different approach to this one. Building from scratch is going to literally take time, experience, hardships, heartbreaks, upsets, and all of that usual thing for starting out with their businesses and they're normal. If I have the money, I'll find someone who's really experienced and has been in the business industry for how many years and will ask some tips to avoid the usual norms of mistakes come to me so, basically I'd start with scratch but if I think that I can't tolerate the heat, I might just get a leap of faith into buying existing business.

There are two different skillets employed between buying a pre existing business and building one from the ground up. If you're a specialist on one area, that gains experience over the year, you may be able to identify areas that do not work well from past failures. However you need to be more of a generalist with experience in many different sectors if you wish to be effective at taking over existing businesses, mainly because many people will be trying to scam you or overcharge you during the buying stage - you must make sure you are paying the right price, based on accurate info

Yeah, whatever is the result of the start of your first business what matters there is the lesson that you'll have. Because you'll have the idea on how to put it up and what are the challenges that you need to face and to overcome. While others boil down straight in acquisition without any idea of how to run a business as a starter. They think that it's a good shortcut, well, it is a good shortcut but you don't go to that point yet when you're a novice in running a business.

I'll put it into this logic.
It's best that you know what you're driving and then when you know how to drive and you've got a proper license to drive. That's the point to start thinking of your dream of driving better cars or the cars of your dreams.

Indeed, buying a business that has been running for a long time and already has regular customers will give us as new owners an advantage. Because we don't need to bother introducing our business to people because the business we run is already known to people. We only need to maintain the quality of service that exists at the company we have purchased. The case of Elon buying Although a lot of criticism was aimed at Elon when he fired many of the company's employees. But in reality, this platform can still run normally even though it has reduced employees.

Starting a business from scratch might also be very interesting and profitable if the business runs smoothly from the start. But when business doesn't run smoothly, that's when everything will become more chaotic. And actually it is riskier starting from zero.

True I would also assume like you, if the business they started from scratch is already at the point of success in the sense that it has grown significantly then I think they will have no reason to sell it, although it is still quite reasonable but it seems that they will not have an interest in selling something that they have built with all the difficulties that finally ended with success. Of course it's better to look for investors who will support your budget to further improve the performance of your business, that way your business will get bigger.

Success in building something will always be a special satisfaction for everyone, it's a very strong reason why they prefer to keep their business rather than sell it. Well that's also true, for the problem of whether they will buy other people's businesses or struggle to build from scratch basically it comes back to themselves, if indeed they do not want to be complicated by going through all the ups and downs of their business then it is clear that they will prefer to buy the results of others, But what should be noted in my opinion is that if you buy someone else's business then you have to re-learn about what to do, because in terms of management it must also be different, the point is you have to be able to adapt to the business you just bought, I hope you can do it because if you fail then the business will not run well or even very likely to go bankrupt. So basically it depends on their own choice whether they want to build their own or buy.

However, if a business is succeeding, there's no reason to sell something that has long been your passion. Instead, find investors and make them an offer to keep the business going. Purchasing someone else's concept isn't always a horrible idea—Elon acquired Twitter, for example—and many people have probably purchased businesses from others, and those businesses have ended up succeeding. Starting your own business is a dream come true for entrepreneurs since it's the most fulfilling feeling in the world to watch their idea come to fruition. Every option, whether to start or buy, is based on what each person wants. If someone feels they can buy and rebrand, that's still a good concept, and every choice they make has a purpose. It may have even worked out well for the buyers in the end.

Buying existing business you don't have the idea, will make you not to achieve your goal in the future which are some of the things many people are doing today that is making them to feel all business are the same which are not correct. Using your money to grow business will help you to learn many things that will make you to exercise patience with that particular business for the right time to start earning from it to come.

I started a new business with the money I made from my BTC investment few months ago, which I no that before the business will reach like 3 or 4 years, I will recover the money I used to start the business because I have idea on that business right from child through my lovely parents.

If i had the chance, i’ll buy an existing business

there’s always a risk of going bankrupt with any kind of business, new or old but i think starting a business from scratch would be riskier than buying a business that’s already been established and already has loyal customers/users for example with the case of X, it’s been such a hallmark in the world of social media and million of users all around the world are already using it and continue to do so no matter what Elon musk do to it starting a whole new social media app when there’s already an abundance of it might not be too smart

I have same advice as well because you need experience to be successful at anything that you want to do. If you want to be a renounced business owner, you need your own experience as most of the renounced business owners we know of started with their own businesses. You don't need to have that life breaking success with your business but you need it to have some level of success so you can channel those experience into the new business that you'll be incharge of which you can then buy with the profits you made from selling your first business. With the right knowledge you can hire people that'll make your new business a success even when you don't have the necessary skills needed for succeeding in the new business. Using Elon musk purchase of twitter as a perfect example, he doesn't have experience in social media or not much experience but has experience from making a business successful.


When you have established yourself as a successful business owner no Matthew small, you won't need to do things yourself for your bought business to be successful because you'll be getting partnership knocking on your does from people with the experience and secret of making that particular business successful. People love to associate with successful people and you'll get experience workers to hire and then you get a successful business. You'll use the experiment you have gained from your other business to manage the new business properly. One of the things that makes a business successful depends on your communication skills as you can either motivate your workers with your communication skills or demoralized them and not make them productive which results in your business failing.

It is not easy to grow a business from scratch and become successful in the end. Most of the business ideas failed to make a spot for themselves in the open market and this is why there isn't a second amazon or Twitter. Only the best ideas, efforts, marketing and investments saw the light of success. Yet there is no assurance that your business will be successful despite all these efforts.



If a business is doing good then it's a great deal to take it over at a reasonable price. Even though that business is not doing good still it is still better to buy that existing business as that business already has its infrastructure, team and recognition in the market. So with some effort and professional touch you can relaunch that existing business for a new milestone.

The decision to buy an existing business doesn't just come randomly like that, it is more of buying someone's idea than buying an existing business.

You can't compare a business that has first  existed in your mind before you put in the effort to make sure you bring it to reality with one you only see the possibility of a bright future and prospect in it. When people buy an existing company, the only thing normally change is the ownership of the organisation but the key persons and the elm I the managerial affairs of the business still continues to remain in the business if the business is to ever prosper offer the change of ownership.

This is just like asking if I would prefer to build a while from the scratch or would prefer to but an already built house. The decision to do any of the option will totally depend on factors like the benefit I will get from buying the house over building it from scratch, my financials strength at the moment, and if the house will give me the same satisfaction as when I build the house from scratch.

  Starting your own business is far more accepted by me than buying an already existing business. Starting a business will provide you with the basic intelligence needed in the labour environment. You’d be more acquainted with the goals you set towards attaining growth in the business and you’d be the accountable to these goals. You’d be the one to know when to make an addition, a subtraction or division or multiplication in the business and you’d definitely the appropriate time to make these inputs. Starting your business will expose you to life as a new business owner and you’d even be more purposeful to push towards positive returns.
   Buying an already established business won’t give you the knowledge you’d require as a beginner. You’d be naive in the business space and you won’t be able to know the right decisions to be made when things get a bit messy for you. At the same time, as a business which you bought, it’d be difficult to redraft the blueprint that was already in use, and the time it will take to watch the economy, measure the strengths and weaknesses of the economy and in turn putting them into this blue print and ensuring the avoidance of errors would be more. To be honest, regardless of the difficulty in capital generation and general fears that may arise from the decision of starting a business yourself, it is far more advisable to do it cos the benefits to be enjoyed afterwards are always massive.

It's really better to grown your own business especially if this is your first business in your entire life, so that you'll get to know how to handle and how to manage everything from the scratch... Once your first business has grown and became successful, if you have enough money to buy an existing one of you want to avail franchise business then go, As long as you can manage it. Better to have a different type of business nowadays because were living in a modern society where everything changes the demand swiftly.

If the existing company meets my conditions and is within my budget, then I will buy the existing business; it would be more convenient for me. There are many reasons for that. First, the budget is much less when compared to starting a new one. Secondly, there are employees who are experienced, and there is no need to train them. Thirdly, don't waste time on paper work issues, building, technology, etc.And the reasons go on and on. And we also have the option to make whatever conditions we want before buying a company. So I don't see any red flags in buying an existing company, but green flags.

You summed it up very well: if this is your first business, I also think that growing your own business is better. This way, you can learn from the ground how everything works, you are able to make mistakes and learn from them, and it is still your personal project which can be abandoned if things go wrong and start a new one with the lessons learnt. The kind of activity that fits with the entrepreneurial personality.

But, when your business has grown, one typical way to keep growing is to buy existing ones that you think are promising/create synergies with the rest of your business/they are a bargain because they are on sale. Of course, to do that, you need the capital, and it is not generally a good idea to borrow it when you are starting and have no clue on how these things work. If you like these things, you'd better study M&A instead. The kind of activity that fits with the management oriented personality.