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

[Eodine]

Nice comments you made. Knowledge and ideas is wealth. Without the two, it will be hard for one to add to his or her worth for life. Even if we inherited the property, without knowledge, ideas we can't hold on to the property to generate more funds.

Very true, there is a common saying around here that says that if you give an uneducated fool inheritance, he or she would end up selling it to an educated person with knowledge about how things work.

 

[Sariana23]

I believe both of them are required. In fact, I even believe more than those things are required when it comes to investing money. You need skills, planning, advice of people, and proper strategy in order to run a successful business. Investing is not just about money or knowledge. It is also about having the ability to lessen loss and maximize profit in any buisiness.

Excellent publication, I think you are absolutely right, the need to have both and more. You can have a lot of money but without knowledge, you should seek support from a person prepared for the business otherwise you will have losses and a future failure. Without money you can not undertake.

 

[Sincerem]

Very true, there is a common saying around here that says that if you give an uneducated fool inheritance, he or she would end up selling it to an educated person with knowledge about how things work.

Okay, its good you remembered the adage. Education makes us to handle such investment wisely to yield more interest. A foolish illiterate person will just squander all that is built in years, with in 2 months.

 

[Kane]

I will give importance to knowledge. If you have knowledge, you will know how you can build capital for your business. If you have only money but no knowledge, you will never know where to put your money.

 

[Mandypaul]

Well for me knowledge and money is very important,but i prefer knowledge because with knowledge u will be able to rise the little money u earn,by so doing u will be able to create a payable business that gives u enough profit daily or monthly

 

[Adventurer]

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?

It's knowledge for me, I just read about someone who invested heavily in a bathing salon but doesn't know how to cut hair, he had all his hopes on hiring professionals but has been disappointed several times. Now he is stuck

 

[Shigobad20201]

Knowledge and money are both important, but knowledge is the most important in a business, you need knowledge to plan and execute every thing but if you have money and no knowledge, the company will collapse.

 

[Cash%]

Both are equally important to me. Having the knowledge about a business without the required means to get capital is baseless. So also is having money without knowledge. However, one can employ knowledgeable people to start up a business if one has money

You are really right those knowledgable people could help your business move forward ,and contribute to the progress of your business at the start of the business

 

[Bookwormlux1]

It's knowledge for me, I just read about someone who invested heavily in a bathing salon but doesn't know how to cut hair, he had all his hopes on hiring professionals but has been disappointed several times. Now he is stuck

That's it, no matter how people would want to argue about this, knowledge is the most profitable. With knowledge, you can get to anywhere in life.

 

[Senator]

Both money and the knowledge is important in making something happen. But you will need the knowledge most of all of you want to succeed in that business

 

[Abbeyola]

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?

Both are of a very good importance, without knowledge a business organization cannot succeed, and without money you cannot start a business.

 

[Bookwormlux1]

Both are of a very good importance, without knowledge a business organization cannot succeed, and without money you cannot start a business.

Definitely, they cannot do without each other. If you have the money and you don't have the knowledge it's useless. One just has to work on getting the two.

 

[Dowenship]

I will suggest both, you don't take any of it out of the equation. They are both highly important in fact they are in same level with each other... Either is more portant than the other.

 

[tyrim88]

Knowledge and the money to finance what you know into raelity is very important.They are very crucial.But knowledge first,because with adequate and thorough knowledge,you can even sell your idea to a good investor that has the money to invest.

 

[Chibson]

I think I have made an input on this thread before, but let me add this one again. Knowledge helps you to maximize your money. Money without knowledge can definitely ruin you.

 

[Setfragil]

The two both work hands in hands, it is difficult to separate them. You needs money to start a business no matter how little it is, for the business to run smoothly you must have knowledge. Money comes first before knowledge.

 

[saoussen57651]

With knowledge you can bring money even you start from scratch and with no money. With money only it will be hard to get knowledge add to that even you hire competence you must have basics for each domain you hire employees for so knowledge is more important.

 

[Setho]

If you are starting a small business, you should seek a lot of knowledge that will keep you in the business for long because with very poor knowledge you can squash all the money in just a small time. So for a business man, you should actually priotise knowledge over money.

 

[Chibson]

They are both very important whenever you want to start a business because a business that is not financed or lacks idea will definitely not succeed.

 

[Hena101]

Both money and knowledge are important when starting a business but when put on a scale of preference knowledge must come first before money when starting a business, because is only when you have the knowledge of the business you want to operate that you will think of the money to sponsor it.