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    2. Buying an existing business or starting from scratch?

    Buying an existing business or starting from scratch?

    Serdar Palaoglu
    11 replies
    Which one do you prefer?

    Replies

    Michael Bogdanowicz
    LeaksID Data Room
    LeaksID Data Room
    Well, I can't imagine how to manage business when you just buy it. I mean that you need to understand process. What why I grow my own business from scratch. But it is not really from scratch, because I designed sites and products 10 years before start to create own company.
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    Goutham
    Animated Statistics Maker
    Animated Statistics Maker
    Since I'm just 1 year into building startups, I prefer to build a startup from scratch. Buying a business upfront would prevent the opportunity for us to become close with customers & understand their problems better An existing businesses will have a lot of nuances on how they were grown. Often times, they might be growing due to the founder's personal brand. And there's always the risk that customers might drop off & you have to eventually start from scratch
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    Ryan T - Dezbor.com
    Dezbor
    Dezbor
    It depends, starting from scratch will take your time which you can't get back & sometimes money... buying existing will take just your money Personally, I'd probably choose from scratch mostly but if I saw an undervalued existing business and I thought I'd have the time and love to maintain it, I would just buy it
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    WorkHub
    It depends on the existing business and my willingness to take on a challenge. If I think I can grow the business even when it may be struggling, I will go for it. Otherwise, starting from scratch is difficult because we must figure out everything and develop a plan. However, it is worth it because I will learn and gain experience along the way.
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    Mark Leon
    Hello. It seems to me that it is much better to start a business from scratch. I made my business from scratch and slowly develop. I have an online store and I made a website for an online store using Shopify : https://mediaonemarketing.com.sg... I think this information will help you in the future
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    Samuelgrantham
    It's usually better to start from 0 because businesses are sold in the first place when they don't make a profit (which we don't need). From 0, it's better because you learn on your own and get to grips with everything in your chosen sphere, so you're more likely to burn the business if you get it ready. For example, I used https://fitmymoney.com/500-dolla... to grow from scratch, and now I have a successful business. On top of that, a big thank you to Fit my money for offering me 500 dollar loan, which helped me a lot during the time when I was basically poor, and my business wasn't working.
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