Would you rather start/grow a business from scratch or buy an existing business?

[retreat]

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.

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[tsaroz]

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.

[junder]

I don't really have much to say as regards to this post. It is just an avenue to hear your thoughts on which is better to invest both time, energy and resources in, mostly for a season as this, where we are experiencing economic uncertainty and ill-timed government banking policies.

So, given that the resources are available or not and you are presented with the opportunity to start/grow or buy an existing business just like Elon Musk, which option is more preferential and benefitial to you?

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.

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.