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

[Abibatabosede]

Before you start a business,you need to be knowledgeable and also have money. There are some business which requires more of your intelligence and there are also some which requires money. You can employ people to do the intelligence work while you do the financing.

 

[Setfragil]

Both is really needed to run a successful busines. In starting a business knowledge is the driving force of all other skills needed to make it grow as knowledge is needed to continuing to manage the money. A business without a knowledgeable person to run it, the business is as good as dead.

 

[Caali]

Knowledge, knowledge, knowledge!!!! Money can be a huge benefit to your business. However it is the knowledge that directs it. You can be an expert in your field and start with a $1000, if you are knowledgeable you will find how to come up with the money. If you just blow money on everything you will never really learn and will keep trying by putting in more money until your budget is gone.

 

[Diamond07]

Both are equally important when starting a new business. An entrepreneur must have a profound knowledge of the business he's intending to go into. Money is also important for proper funding of the business

 

[Ziki]

We need both sir
They are all important
We need money for knowledge and knowledge for money.If we don't have knowledge how would we earn a good job for money? This is a big question.I say that both things matter knowledge and money.If we don't have money how will run the business

 

[Kelvin7656]

All businesses have access to an extensive pool of knowledge - whether this is their understanding of customers' needs and the business environment or the skills and experience of staff.

The way a business gathers, shares and exploits this knowledge can be central to its ability to develop successfully. This doesn't just apply to huge multinational companies. Knowledge management can benefit everyone from a local newsstand to a manufacturing firm.

 

[Cybersec]

In starting a business money is important but I believe knowledge is more important as it is what will make your business to succeed. If there is knowledge, then money will follow soon. But even with money you might find it hard to run the business successfully.

 

[Quert]

In forming company, both of them are important, well in terms of strategic planning we need greatly knowledge to avoid such problems in the future. And to fulfill such plans, money serves as our means. You see that they are both needed and should be used wisely.

 

[Shahid Abbas]

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?

I think if you want to become a good and successful businessman then you will need both of it and both these have a lot of importance to become a good and successful businessman and both these have play key role in any buisness.

 

[arrain3786]

To start any kind of physical project you may have the knowledge about the whole market and about the product like its manufacturing/production, men, material like everything. But if you are going to invest your money with already established company just have knowledge about the companies plan and reputation and go for it.

 

[Akinwale701]

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. You wouldn't want to start a business you know nothing about and at the same time, you wouldn't want to have knowledge without no business to use it for. I quote Plato who said "practice without theory is blind and theory without practice is barren". so both are very important.

Post automatically merged: Jan 30, 2021

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. You wouldn't want to start a business you know nothing about and at the same time, you wouldn't want to have knowledge without no business to use it for. I quote Plato who said "practice without theory is blind and theory without practice is barren". so both are very important.

 

[Axad. Mrb]

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.

 

[Alogakho Esson]

Knowledge and money both are very important in running a business because if you run a business without knowledge your business will lack ideas

 

[Olaoluwa Abraham Abiodun]

All of them are very necessary and that is one needs to be well prepared enough before starting up a business. None of them can succeed in business without the help of another.

 

[Bookwormlux]

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.

You are right about. Knowledge iss said to be power, and it is. Of you check the past, not many people were rich because they lacked knowledge. But now, a lot of young people have made it because they used the knowledge they have to proferr solutions to the world's problems.

 

[Blue house]

Knowledge, knowledge, knowledge!!!! Cash can be an immense advantage to your business. Anyway the knowledge guides it. You can be a specialist in your field and start with a $1000, in the event that you are educated you will discover how to think of the cash. In the event that you simply blow cash on all that you won't ever truly learn and will continue attempting by placing in more cash until your spending plan is no more. Build up your insight prior to putting cash into an undertaking. At the point when I started making my application Focus, I had an extremely restricted spending plan of $3000 notwithstanding, with the knowledge I had created I carried traffic to my impending profitability application that will be a definitive efficiency application. Im doing this on a little spending plan and keep on making it work. So create knowledge!

 

[WhiteHouse]

Normally, knowledge is more significant, on the grounds that it comes as a matter of fact, which enables one to comprehend:

what didn't work;

what had worked;

what could work better, or quicker, or more intelligent the following time around, with some tweaking;

With developing knowledge, you can place more thoughts in your mind to produce more trade out your hands, particularly when the thoughts are actualized and executed with progress.

 

[Blessedsam60]

Both knowledge and money are needed when starting a business but if you ask me then, I will probably say knowledge is what you will used in controlling the money. As they said no knowledge is a east. So don't neglect the power of knowledge.

 

[Adetayo100]

Both are just like the two sides of a coin, you can do without any. So in starting a business, you need the knowledge and money to back up the knowledge because knowledge cannot coexist without money. Thus, putting that knowledge in action is where money comes in.

Business knowledge is an important strategic asset. It is a sum of skills, experiences, capabilities and expert insight, which you collectively create and rely on in your business. As a shared resource, knowledge shapes and affects all the activities around your business.

 

[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?

They are both very important, lack of good knowledge of a business venture can lead to the failure of a start up business, likewise funds to, the business needs adequate funds for running costs, overheads , infact a start up business will need money pumped in at the first 6 months, profit is not certain at this time so the business needs to be kept afloat.
They are both imperative to the success of the business.