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

[junder]

~snip~

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.

Starting from scratch is difficult, but it deepens knowledge. Knowing every aspect of your business is important and I believe in hands-on experience. This way of thinking is very useful in today's market. Your coffee shop concept that merges the past and present is innovative as global finance moves toward individualized experiences

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.

I've seen it many times: micro-detail-focused companies succeed. Many entrepreneurs relate to your struggle to success. I've always said business success depends on effort. The hours, decisions, and risks you handle matter. Every great initiative starts with self-confidence, which you have in spades

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.

In my experience, risk is like the tide  it ebbs and flows, but a solid foundation can weather any storm. Your coffee shop is a microcosm of the world economy,reflecting consumer trends and the importance of ambiance in customer experience. Never give up, and remember the power of 'I'. I take risks, make things happen, and profit.

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.

[stomachgrowls]

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.

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.

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 do have the capital and do really have that passion then it wont really be that a problem when buying up some business but somewhat you wont really be that so dumb on not to have that feasibility study
basing up on that old business that you are trying to buy or takeover. You cant really just that make yourself on throwing up some funds on random on which it is really just that normal that you would really be having that kind of study first before making such step because its not easy to waste up some money for some business which isnt fit into your knowledge and into your passion.

In choosing in between things then i would always recommend to build a business from scratch. Why? You do really know on where you have started and you would be able to have a good grasps
on the business that you are making or taking. Although success rate wont really be that an assured thing since we do know that when it comes to busines then there would really be
tons of factors on which you would really be needing to consider not really just that on capital. You would really be needing to be wise on every decisions you would make.

[Obim34]

Starting a business from a scratch is not as easy like buying an already existing business. A lot of efforts, time, finance and marketing needs to be put together to make the well established whereas some good business can't make the opportunity to their prime.

Buying an already existing business, all you need is the money and little knowledge on how to upgrade and keep the business running so it will be less easy to operate on buying an existing business than creating from the scratch.
Many will decide by choice but buying an already existing business is the best only if you can afford the cost.

[Peanutswar]

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.

~~~
In choosing in between things then i would always recommend to build a business from scratch. Why? You do really know on where you have started and you would be able to have a good grasps
on the business that you are making or taking. Although success rate wont really be that an assured thing since we do know that when it comes to busines then there would really be
tons of factors on which you would really be needing to consider not really just that on capital. You would really be needing to be wise on every decisions you would make.

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.

[gabbie2010]

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?

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.

[kentrolla]

Starting a business from a scratch is not as easy like buying an already existing business. A lot of efforts, time, finance and marketing needs to be put together to make the well established whereas some good business can't make the opportunity to their prime.

Buying an already existing business, all you need is the money and little knowledge on how to upgrade and keep the business running so it will be less easy to operate on buying an existing business than creating from the scratch.
Many will decide by choice but buying an already existing business is the best only if you can afford the cost.

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.

[itorai]

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.

[Winterfrost]

Buying an existing business does not just happen out of thin air, as there are a lot of things one will consider before making that kind of step. You need to have knowledge of how the business you want to acquire works and if you could actually benefit from buying it.

For starters, I will advise building up your own business from the start, studying the market condition of your desired business, and seeing the stress and process of running that business from scratch, as such a process will give you all the information you need in terms of decision-making, market demand, customer relations, and all that. By so doing, you will be able to gather the experience you need, and then if you desire a bigger brand that is already existing in the market and you have the financial capability to buy it,  you can go for it. then you will be rest assured that you will not mess up the business or rely on the existing company's employees to make things happen.

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.

[summonerrk]

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?

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.

[Fatunad]

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.

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.

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 do have the capital and do really have that passion then it wont really be that a problem when buying up some business but somewhat you wont really be that so dumb on not to have that feasibility study
basing up on that old business that you are trying to buy or takeover. You cant really just that make yourself on throwing up some funds on random on which it is really just that normal that you would really be having that kind of study first before making such step because its not easy to waste up some money for some business which isnt fit into your knowledge and into your passion.

In choosing in between things then i would always recommend to build a business from scratch. Why? You do really know on where you have started and you would be able to have a good grasps
on the business that you are making or taking. Although success rate wont really be that an assured thing since we do know that when it comes to busines then there would really be
tons of factors on which you would really be needing to consider not really just that on capital. You would really be needing to be wise on every decisions you would make.

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.

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.

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.

[oktana]

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.

[erep]

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.

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.

[Iroh]

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.

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.

[boyptc]

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.

[poodle63]

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.

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.

[boyptc]

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.

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.

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

after all there are also possibility of failure in the way of building such system.

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.

[doomloop]

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.

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.

[Antotena]

I totally agree with your perspective on starting a business from scratch. It's a challenging journey, but it offers invaluable hands-on experience and a deep understanding of every aspect of the business.

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.

[Wakate]

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.

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.

[kentrolla]

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.

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.