Inventing a new business idea or join existing one?

kirubel

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When we consider starting and running a business we have two chooses that is inventing a new business ideas that have never been invented and opened in our areas and we try to introduce our new products and try to have some customers, and the other one is joining a business that have been already running in you area, and in this way all you need to do is just open a store and you will join the market with already known products, and in this way you have some competitors.
The pros and cons of inventing new business is that opening and introducing a new thing to a society will be a bit harder and in order to get acceptance it will take some time but on the good side we don't have any business competitors and challenges.

 

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Stardom22

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In my opinion l think that the existing business Idea is more advantageous as you can take the advantage of the customers databases and reputation that it has built over time to move it ahead.

 

kirubel

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Stardom22 said:

In my opinion l think that the existing business Idea is more advantageous as you can take the advantage of the customers databases and reputation that it has built over time to move it ahead.

Click to expand...

True joining the existed and well known business plan will have less risk than inventing new business plan and trying to introduce your products to the customer will need a lots of time and money, but after it gets well known it will be profitable.

 

eldavis

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The truth of the matter is that investing in an existing business is risky just as investing in a new business idea. Though investing in a new business idea is usually more risky cause there is no guarantee on how the business would perform.

 

cherry123

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Starting a new business might be the best as you run it your own way but it is way better to start from an existing business it is really simple.

 

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Fidelia

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When you are looking to invent a new business idea, be sure that it has gone through all the stages of business development and passed. It is safer to improve an existing idea.

 

nomad

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I am not an innovator or inventor, therefore, I will work on the ideas that have been tested multiple times

 

Shavkat

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I prefer to start my own business. If it is well-known existing business, I am open to join in.

 

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Bisolami

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• #9

kirubel said:

When we consider starting and running a business we have two chooses that is inventing a new business ideas that have never been invented and opened in our areas and we try to introduce our new products and try to have some customers, and the other one is joining a business that have been already running in you area, and in this way all you need to do is just open a store and you will join the market with already known products, and in this way you have some competitors.
The pros and cons of inventing new business is that opening and introducing a new thing to a society will be a bit harder and in order to get acceptance it will take some time but on the good side we don't have any business competitors and challenges.

Click to expand...

It’s always better to be the one to invent a new business idea but not everyone can do that so if you can follow up or join a business, it is not bad

 

freelancermaria

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I plan to join an existing business idea as I aim to benefit from the established reputation of the business.

 

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Ratine

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It's very difficult to find out businesses that had not been started in the community before.

 

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Etini Willie

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It is very difficult to bring out a new business idea and create a market for it. Easier to improve already existing ideas.

 

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Ratine

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I can say that the existing business motives are very simple to operate than new business ideas.

 

Kera

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A new business idea would take a whole lot of marketing to convince people to think of patronizing.

 

cherry123

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in this era you need to start your own business ideas since a lot of market have been saturated now

 

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King Belieal

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• #16

You might not necessarily need to create your own business. You can improve an already existing niche that you think is saturated to create a new niche.