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

[Jlife]

I will just say that both of them are really necessary but sometimes the most difficult one for most people is the money,is better for me to choose money because that is always the hindrances of a lot of people.

 

[akinlolu99]

knowledge is highly important when it comes to dealing with money, someone that does not have the knowledge on how to handle money is bound to always lose money example I have a friend who owns that house, shop and he's doing pretty okay only for his uncle to look him dead in the eyes and tell him he does not know how to multiply money. multiplying money has to do with wisdom knowledge and understanding.

 

[Sotherefore]

And if you really think about it money is not really the problem, it could be gotten from friends or families or bank it's ti Pat back that is the only work

To me I believe that money is the most important thing because you may not even be able to get enough money that is necessary to set up a standard business from Friends who are also trying to establish their own business.

 

[Filicit]

To me I believe that money is the most important thing because you may not even be able to get enough money that is necessary to set up a standard business from Friends who are also trying to establish their own business.

I believe that no matter how tough challenges might be, ine can still get some funds raised at a particular point in time but how we spend it depends on our level of financial education.

 

[Sotherefore]

I believe that no matter how tough challenges might be, ine can still get some funds raised at a particular point in time but how we spend it depends on our level of financial education.

But learning how to establish a business is not a difficult thing, it is an information that you only have to get from people who have been in the business but I always believe raising money is always the most difficult.

 

[Ezekiel]

Knowledge or money,to me I will go fo knowledge because it is stated biblical that wisdom is the principal thing but in all you getting seek for understanding,if one has the money but ro not have knowledge of the business then it is like having a Cutlass on a farmland without knowing the function if it,mo ey is vital but knowledge is very exencial.

 

[Ryanmulenga7]

I will probably say money is more important because I am thinking of the one that's more important than the other this is obviously because businesses can be achieved without having knowledge you could just start a business but without money it's not possible to start a business there are just too many dynamics involved with money

 

[Jlife]

I believe both of them are actually the best, in fact they are 50/50, because it is impossible for you to succeed in the business without money and also the other way round. You still need to have a start-up capital and a good understanding of the business.

 

[Filicit]

But learning how to establish a business is not a difficult thing, it is an information that you only have to get from people who have been in the business but I always believe raising money is always the most difficult.

I don't believe that learning from others simply absolves you if any challenge you might encounter during startup because the business has different strategies and different problems that may arise in different forms

 

[Shigobad20201]

I believe both of them are actually the best, in fact they are 50/50, because it is impossible for you to succeed in the business without money and also the other way round. You still need to have a start-up capital and a good understanding of the business.

Money and knowledge are both positive aspect in building a business and in my own opinion without money , knowledge sometimes is nothing because you cannot acheive your dream without capital.

 

[Ruth]

Knowledge is power and money isn't everything. Money can only last for a period of time while knowledge multiplies money. Knowledge is a great asset because it provides you with opportunities.

 

[Okanlawon]

Money is more important in starting a business than knowledge. If you have the money to start a business and you don't have knowledge to start it, the money will motivate you to get the knowledge, but of you have the knowledge of the business without money, the knowledge can go to waste

 

[Jlife]

Money and knowledge are both positive aspect in building a business and in my own opinion without money , knowledge sometimes is nothing because you cannot acheive your dream without capital.

Yes because knowledge about a business may not be able to generate you the capital that you need in setting up a business, knowledge is only going to be active when you have the required money.

 

[Sotherefore]

I don't believe that learning from others simply absolves you if any challenge you might encounter during startup because the business has different strategies and different problems that may arise in different forms

What I mean is that if you're going into a business, learning from people will even be the best option because those people are going to advise you based on the experience they had and what things you should avoid in your business journey.

 

[Filicit]

What I mean is that if you're going into a business, learning from people will even be the best option because those people are going to advise you based on the experience they had and what things you should avoid in your business journey.

Oh I get you now, this is what can be referred to as learning by proxy, learning from others mistake or experience but still we still have to create our own experience

 

[Sotherefore]

Oh I get you now, this is what can be referred to as learning by proxy, learning from others mistake or experience but still we still have to create our own experience

Yes the experience of other people will help us to succeed in the business, we will only be able to learn from unexpected challenge that later happened in the business. That is why it is easier to learn knowledge than to get money.

 

[Kelly5]

You need the both if you ever want to start that business at all. You can't tell me you want to hold on to knowledge forever without the actual money to start that business are you? So, you will be needing both

 

[Alexandoy]

Yes the experience of other people will help us to succeed in the business, we will only be able to learn from unexpected challenge that later happened in the business. That is why it is easier to learn knowledge than to get money.

You may be forgetting that if you have the money then you can hire the expert that you need for your business. If you know Manny Pacquiao, the boxing champion, he had converted his winnings into a variety of business empire. That is all because of the financial managers that he hired.

 

[Filicit]

You may be forgetting that if you have the money then you can hire the expert that you need for your business. If you know Manny Pacquiao, the boxing champion, he had converted his winnings into a variety of business empire. That is all because of the financial managers that he hired.

I agree with you, I believe too that with money you can get your hands on the best professionals in the market, that have been trained to help.businesses grow

 

[Solutionav]

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 very important because you can't do without capital to start up and you cannot do without having the right knowledge, but the most important thing is you having knowledge of the business you want to do and how you want to do, people can sponsor your knowledge.