“Only Morons Start a Business with a Loan”
“If you Start a Business With a Loan, You’re a Moron.” says Mark Cuban.
There are too many uncertainties when starting a business from scratch and the bank or your lenders don’t care about your business.
Most small business don’t fail because of lack of capital, they fail because of lack of effort, or the owner fails to work smart.
If you’re starting a business from scratch, you better have intimate knowledge of your industry sector because the competition is not going to sit there and let you come in and compete.
This is one of the main reason you are much better off buying an existing business with existing customers and sales.
Buy it at a fair and reasonable price and make it better.