Any risk in starting up a business without proper training?

[Ridwan Mohammed]

let's not calling it training but just not enough knowledge, getting into things without knowledge will surely result in repetitive failures without any doubt, to reduce the number of failures, just make sure you gather enough knowledge

Of course there are risks in going into a business one does not have any knowledge on. Since such business will eventually crash in the long run.

 

[Kinglegend01]

Sure I think investing or establishing a business without knowing or having an idea ( at the very least having proper training) about the business is a very huge risk.it just like deciding to ride a bicycle even though you know you cant ride one nor have you learnt how to do so from anyone, inevitably you are going to get hurt or injured.

 

[Veetos12]

I think it's a big time risk, especially when you don't know much about the business you want to venture into. There are some businesses that seems so easy when looking at, they look exactly like what we can handle without under going proper training. What do you have to say about it? Is it wise enough to invest into a business you don't know much about?

There is this common saying that goes like "don't test the depth of a river with your too feet". Investing into a business you know nothing about is actually like putting your two feet in a deep water. It is very risky and I cant advise you to go for such business until you gather knowledge about it.

 

[Ezzyoj]

There is high risk when one goes into a business without proper training and planning. Lack of experience of the business pose a terrible risk to the business. Many people failed in the business because of lack of proper understanding of the business

 

[Seun4luv]

Entrepreneurs face multiple risk such as bankruptcy, financial risk, competitive risk, environmental risk, reputational risk, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.

 

[Aniwhyte]

There are a lot of risk in starting up a business without proper training, I would advise you to first of all look for a mentor in same line of business and if possible you should work with him or her for some couple of months so you could be able to understand the business you're about venturing into more appropriately.

 

[Olubayo12]

I think it's a big time risk, especially when you don't know much about the business you want to venture into. There are some businesses that seems so easy when looking at, they look exactly like what we can handle without under going proper training. What do you have to say about it? Is it wise enough to invest into a business you don't know much about?

Nothing is as rriskyas starting a business without proper training. I'm very happy you have posted this thread under High risk investments forum for everyone to really know that it is a very risky stuff to do that.

 

[Afrinish]

Starting a business can be stressful. It often feels like there are 1,000 things to work on all at the same time. There's no avoiding this reality for new small business owners, but with a little planning, it's possible to manage expectations and take actions with a sense of purpose toward building your business.​

 

[Chumzy]

Starting any business without properly understanding how it works is really not good. It will expose you to one major risk and that is the possibility of losing money. On the other hand you could actually learn on the job and that is also nice.

 

[tyrim88]

The success and thorough growth of any business is to have a proper knowledge of that sector you want to venture into.Training cannot be overemphasied as it would give one a glims of what you want to get into.But there are some things you can learn on your own as you stay and run the firm or business,and this, trainings most times might not give you,You device your own strategy based on what you see on the field.

 

[redpogi16]

People who starting business face multiple risks such as bankruptcy, financial problem, competition problem, environmental risks, reputational risks, and political and economic risks. The owner of a business must plan wisely in terms of budgeting and show that they are considering risks by creating a realistic business plan and manageable.

 

[KENDRA2020]

Starting up a business aint easy, so many unforseen event might come and comsume much of your capital but when the profit start coming. The joy of having more than you invested is more and more importanter.

 

[Clara]

If you will start business you will face many risks such as bankruptcy, financial risks, competition between other businesses, environmental risks, reputational risks, and political and economic risks. You should plan wisely in terms of budgeting and show that you are considering risks by creating a realistic business plan.

 

[KENDRA2020]

Yeah, its better you bring in experienced hands wen venturing into a business you have no idea about. Or rather take out time to study the business and what it takes rather than just starting without any prior knowledge about it

 

[Usman Sattar]

​

Heeding wise words from the father of business management, Peter Drucker, “The only sustainable competitive advantage is an organization’s ability to learn faster than the competition. Your organization may be getting a run for your money, quite literally, by not investing in a solid learning strategy.

We’ve summarized the top four risks, in no particular order, that our clients are no longer willing to take:

 

[Shahzaib37]

I think it's a big time risk, especially when you don't know much about the business you want to venture into. There are some businesses that seems so easy when looking at, they look exactly like what we can handle without under going proper training. What do you have to say about it? Is it wise enough to invest into a business you don't know much about?

If you are new in business than you have many risk of business occur and it is very important to cover it and make grip on it and it will give you more experience to start a great business men

 

[chommyluv]

I think it's a big time risk, especially when you don't know much about the business you want to venture into. There are some businesses that seems so easy when looking at, they look exactly like what we can handle without under going proper training. What do you have to say about it? Is it wise enough to invest into a business you don't know much about?

Yes oooh, a lot of risks are involved, is like a primary school student waking up one day and decided to write Senior Secondary School Exams without passing through the class necessary for its preparation. So also is starting up a business without training, such business wount last long.

 

[Akinwale701]

I think it's a big time risk, especially when you don't know much about the business you want to venture into. There are some businesses that seems so easy when looking at, they look exactly like what we can handle without under going proper training. What do you have to say about it? Is it wise enough to invest into a business you don't know much about?

I do not think you still need to ask this question when you already know the answer, starting up a business requires knowledge and this means you know the length, breadth, and width of the business in question as that is the major key to running your business effectively

 

[Jobiezue]

I do not think you still need to ask this question when you already know the answer, starting up a business requires knowledge and this means you know the length, breadth, and width of the business in question as that is the major key to running your business effectively

I guess she asked the right questions buddy. I've seen people rush i to business they have zero knowledge of of which most of them ended up to square one of life. So it's really important and proper to take up a business tutorial before trying to run it.

 

[Akinwale701]

I guess she asked the right questions buddy. I've seen people rush i to business they have zero knowledge of of which most of them ended up to square one of life. So it's really important and proper to take up a business tutorial before trying to run it.

That is a very bad mistake a person would ever make.... starting a business you do not know anything about? Who does that! in fact, it is better to have used the money to place bet than using it to start such business without knowing anything about.