Quote from: SmartCharpa on Today at 12:29:17 PM

Quote from: Cryptomultiplier on August 05, 2023, 04:26:46 PM

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.