Starting up a new venture Vs buying an ongoing venture discussion
What would be your choice if posed with the decision between starting up a new venture or buying an ongoing venture if you have an opportunity to be an entrepreneur? What are the considerations that would help you make the decision?
-Identify a product or service and assess the business opportunity for a new venture in that market. Is there a good opportunity for a new venture? Why? How would you create value for the product or service if you were the entrepreneur of the new venture?
Starting up a venture
When starting up a business venture, there are other factors that I need to consider. To start with, it is better to buy an already present business than to start on a new one. This is because; an already running business has got its own market. People already know it and are familiar with the business name. This will make it easy for me to improve the products and sell the goods using the same trademark name. Secondly, this kind of business has already broken even. This means that when you buy it, you will not make losses or have no profits because you are trying to break even. Thirdly, this business already has…