Knowledge or Money: which is more important in starting a business?

[Chibson]

The headline of your question is quite funny. Of course if one wants to venture into business, these two a very necessary. You need knowledge to do business you, also need money for startup. So talking about any of them being more important, the both of them are needed to run a successful business father

 

[Shayo]

Of course knowledge Is more important, money is very important too. But if we think carefully about it, you cant come up with a business idea without prior knowledge.
One can achieve money with knowledge but money alone is not enough to get knowledge.
A rich person without adequate knowledge will soon squander the money.

 

[WhiteHouse]

If you can have both knowledge and money then do so, BOTH ARE IMPORTANT BECAUSE BOTH ARE INTERDEPENDENT. They work for various reasons. Knowledge can buy money and money can equally buy knowledge.

 

[Mama]

Basically both are very important but having the capital to start up a business without the knowledge of business you intend to partake in will lead to a colossal failure in any business at all

 

[Thosynho]

Both of them are necessary in forming business, well in terms of strategic planning we greatly need knowledge to avoid such problems in the future. And money acts as our resources to achieve such plans. You see both of them are necessary and should be used wisely.

Yeah, I kind of agree with you partially that both are necessary in forming business. As a matter of fact, your money can get you the required knowledge needed for the business so also your knowledge in that business you are trying to start can fetch you money too.

 

[LaylaG]

if I am the one I will choose both of them because both money and knowledge work the same way if you have money and you do not have knowledge you will not be able to manage the money but if you have both money and knowledge you'll be able to manage out the money successfully and make more money.

 

[Briangsam]

Knowledge definitely comes first before money because without the proper knowledge and in sight into the proposed business, money might go down the drain because of lack or shortage of information as a result of lack of knowledge.
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Knowledge definitely comes first before money because without the proper knowledge and in sight into the proposed business, money might go down the drain because of lack or shortage of information as a result of lack of knowledge.

 

[Richmond funke abosede]

Money can buy an object, but not the thought process (knowledge) that went into creating that object. Hence, knowledge is superior. It is better to be looked up to as a "knowledgeable person" rather than a "rich person". ... With knowledge one can acquire money, but money alone will not help in acquiring knowledge.

 

[Pousinha]

It depends on the kind of business, on legislation in your country and circumstances too. In the specific case of my micro-enterprise is very much more important knowledge, as my business is really cheap to maintain. I only need a PC/notebook to carry on my activities, sometimes a mobile. I haven't expenses out of the ordinary, as I offer digital services (online tuitions, publishing articles and similar activities not involving costs), no commerce of physical goods. But I recognise that the majority of businesses need both. No money lot of times may mean bankruptcy because entrepreneurs contract even large debts to begin the activities, especially commerce.

 

[LaylaG]

If I'm the one to choose any of them I'll go for both because because you actually need money to start up something and you also need a knowledge to manage whatever you start up with money so I think all is necessary for a smooth running of business and other things concerning life espect.

 

[Succjay]

In starting a business one has to be very careful and make sure all is in place before starting in order to avoid making avoidable mistakes.
Between money and knowledge about a business, which is more important to the business owner who is just starting?

In my opinion, I would say both money and knowledge are very important. But knowledge supersedes money in the sense that if you have more than enough money to start up a business you know nothing about, the truth is that you are doomed.

 

[Kgudners]

Both. Because you can't remove any of those two. They are very essential. If any is removed, business can't progress. But know that knowledge is more paramount. But money is used to bring out the ideas conceived by the knowledge.

 

[JamoPosh]

Both works hand in hand, but having the core knowledge is more essential. One can be rich but having no knowledge in running a business will later make the business run at lost at the long run. The knowledge seems to be the heart of the business while the money is the blood that makes it live.

 

[Kiwi]

The both knowledge and money are very important and imperative to aquire before one can able to start business. Money and knowledge are equally important but knowledge is more important i guess with knowledge you can convert your little amount of money into huge amount by your knowledge and skills.because you get skills and techniques which by utilizing you get progress.

 

[Sarfraz Ali123]

Money can buy an object, but not the thought process (knowledge) that went into creating that object. Hence, knowledge is superior. It is better to be looked up to as a "knowledgeable person" rather than a "rich person". ... With knowledge one can acquire money, but money alone will not help in acquiring knowledge.

 

[Greatguy1]

Knowledge is more important than Money. A fool and his money are soon parted ways if there's no effective know how to manage it. Knowledge leads to right application that manages, maintain and invests money. You must seek knowledge so that wherever you are found, you can easily apply it to make money.

 

[Chumzy]

A few years ago I would have easily picked money as the most important factor needed. But after a short while in the agricultural sector and seeing people lose a lot of money. I have had a view change about that because it is not an easy task to do business with a lot of money without any prior knowledge.

 

[Matty]

Money can buy an object, but not the thought process (knowledge) that went into creating that object. Hence, knowledge is superior. It is better to be looked up to as a "knowledgeable person" rather than a "rich person". ... With knowledge one can acquire money, but money alone will not help in acquiring knowledge.

 

[Erik4150]

I just finished reading the book titled the richest man in Babylon and the book answers this question perfectly. Without knowledge, having money would be a waste of time because you would lack the proper management skills and information to put the money to good use.
Knowledge is far more important than money.

 

[Kehinde]

Most startups fail because the people who initiate businesses have no experience and no real idea how micro-enterprises work and what makes them different from the “organizational-sized” companies they have worked for.