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

[oluwaseun tope]

As for me I prefer knowledge than money ,because if you have the knowledge to start a business and you are expert in the business ,you can be able to make more money easily because you have knowledge of the business

 

[Psalmseen]

In starting a business, both money and knowledge are important. If you don't have knowledge and you have money, the effort will be a waste and if you have knowledge without money, the knowledge will be a waste. But the most important is knowledge because what you don't have knowledge about will not give the best return but you can go to bank to borrow money

 

[Johnbami]

Knowledge is key. Knowledge is the best thing to have when you want to start a business. So make sure you have the necessary knowledge you need to have to make the business successful

 

[Alee]

Knowledge is a skill acquired through experience or education. Every human on Earth is eventually learning and working each day to earn. Does this mean, money is more important than knowledge?


Money is not easily available to all, but knowledge is. All that one needs to possess is the interest in learning.

 

[Cissé]

Both money and knowledge are very important in starting a business because having knowledge without money will not start a business well and have money without having the knowledge about a business will ruin the business quickly. So both works for each other.

 

[Sad56]

Both things are more important than anything els, they are as important as your business. Try to get and collect money plus try to get knowledge at the same time by this you can get confidence to go in to business.So we can not deny one of thing between two.

 

[Victor001]

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?

To me,I feel knowledge is more important than having the money.what you don't know cannot benefit you.before you venture into any investment you seek knowledge to know the risk,reward and possible outcome.

 

[Bookwormlux]

To me,I feel knowledge is more important than having the money.what you don't know cannot benefit you.before you venture into any investment you seek knowledge to know the risk,reward and possible outcome.

I agree with you. Some may argue that with Money, you can hire people to work for you, it's true, but you most likely to be cheated since you do not understand the basics of the business. It is better to know for your self and take all risks your self.

 

[Oliver 20]

Knowledge is heavenly , one can't get knowledge effectively as it accompanies the experience . Knowledge is power which don't have an end. Knowledge which we can help other people with sharing it. Knowledge were we can bring in cash. Knowledge which is covered with body , it will be with you to take of your life.
Knowledge is one thing that never be gotten less by sharing others indeed it gets increment.sometimes we need money to acquire knowledge

 

[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?

Unarguably, both of them are known and regarded as factors of production which means the two of them are very important. Knowledge without money is useless and money without knowledge in business is barren. Both are important

 

[Olubayo12]

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.

You are totally right. knowledge and money are both equally important, in fact I have come across it I many business related teXtbooks that knowledge is also part of the factors of production which makes it equals to money

 

[bilal19]

Money can buy an object, but not the thought process 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.

 

[Chibson]

There is no way you will go into any business without proper knowledge and succeed in it. You have to first of all, acquire the knowledge and know how the business works and the strategy needed to succeed in it before venturing into it.
Knowledge is definitely superior to money because with knowledge, you can make a lot of money.

Post automatically merged: Feb 9, 2021

There is no way you will go into any business without proper knowledge and succeed in it. You have to first of all, acquire the knowledge and know how the business works and the strategy needed to succeed in it before venturing into it.
Knowledge is definitely superior to money because with knowledge, you can make a lot of money.

 

[Muhammad Irfan **]

Education will get you a job, which will earn youmoney. However, money brings you the necessities of life: water, food and shelter. ...So, education is better/more important thanmoney, because if you are educated, you will soon be able to earn money.

 

[Draysongz]

Both are very important but firstly you have to have the knowledge of the business you're going into before dabbling into it. If you don't have a prior knowledge, the business is bound to fail even if you have money. So get knowledge, then money.

 

[Highflyer]

Knowledge and money are both important when starting a business, this is why I emphasise on strategic planning for those who want to start a business, your money is useless when you don't have an idea of what you are going into.

 

[Adil]

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.

 

[Sotherefore]

both of them is actually the best for you to have if you are thinking of going forward in life because we don't want money you cannot do anything and without knowledge you may not be able to Excel in any business or any feel you are going into that is why both of them are absolutely necessary.

 

[MarieArie]

Having Money and having knowledge is important in handling a business. What is the use of money without the knowledge of how to handling a business? Knowledge is important as well as money. It might even be better to be knowledgeable without money.

 

[Ayoknl]

Actually both are necessary when it comes to starting a business, a food knowledge of the business is advised, so as to know the do's and don't of the business meanwhile money plays the part of making the knowledge become a success as all financial burden is all about money.