Business Mindset 33
New vs Established Business
How to save 20 years of your life. Understand the concept of buying a ready established business vs Building a new business from scratch.
Which way is better? If you ask me, I have one answer. Always buy a business. Do not waste your time building a business. Let others build businesses and you just focus on buying a business. This is what I do. I don’t waste my time launching products, building new businesses. I just buy.
So I ask all of you to go and give 2 years of your life, launch products, build your businesses. Once you have established businesses, just come back to me, I will buy your business. In other words, I will buy 2 years of your life and will save 2 years of my life. What is the price of your 2 years? I will pay you that price.
So what do I get in return? I save 2 years of my life and if I buy 10 businesses, I save 20 years of my life. I have lower risk and you have higher risk since you are the one building it. I pay the price. I will pay you 15 months to 20 months profit.
If you consider selling your asset on Empire, you get higher price of your asset of course. So it’s your choice. Now if you say I don’t have money to buy a business, fine, go and build a business then. You build it, I will buy it. Or someone build it, you buy it. The whole idea here is to clear your concept and understanding if you should be building a business or buying a business. If you are young boy with barely little cash in hand, go and build it and babas like us will buy from you. One day you will becom