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

[Sotherefore]

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.

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.

Well personally I don't like getting managers to run my business without me having an understanding about what to do in the business .I don't like my manager to be the one to be taking full control of my business.

 

[Ghost]

Both having money and knowledge are important when running a business. One can't really operate and starta business without the capital that is needed. Also, if you don't have any knowledge, the business will most likely fail.

Exactly what was on my mind. You simply can't chose one ahead of the order both are mandatory to start a business

 

[Kubiat-Abasi]

Knowledge and money work in tandem or in a pari passu. The knowledge, experience is vital as well as the money because if I have the needed knowledge without no capital how am I going to bring the idea into reality? The idea will definitely be 6ft deep.

 

[joy101]

Both of them are very important because starting of business required knowledge and also capital to run the business very well, so business is all about study.

 

[Kingstone]

Once you have the idea or knowledge about the business you are about to start, when money comes, it will be easy to execute. Money without knowledge is a waste and vice versa but one must occur before the other.

 

[YERUS]

I would go for knowledge. Before embarking on any business, one has to ensure adequate knowledge on that business has been gained.
If not, there would be no need starting a business with huge sums of money, only for it to crumble due to lack of knowledge.
Knowledge is more important .

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?

 

[Lucy ID]

They are both important and essential both have to work together, you have to acquire knowledge to start any business or anything you want to or run it without it, it will crumble likewise if you don't have money you won't be able to improve or get necessary facilities

 

[Toyoabasi]

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 of importance.
But the most important, I would say it's knowledge. That is because even if one has all the money needed to run a business, without knowledge on the business, everything would be a waste.

 

[Kaffyfolla]

Think of it this way: if you were lacking knowledge, who would you turn to? Who would benefit from helping you? Sure, you could pay them for their expertise, but eventually, your money would run dry.
On the other hand, if you are lacking knowledge, you can find an investor. You have to have a great product or service, but if you can convince someone of that, you will not want for money.
Beyond that, having knowledge is useful in other ways. You could share your knowledge online as a marketing tool. You can get speaking engagements (if you become successful). You can also take that knowledge to another company, in the event that yours closes.

 

[Aaron625]

Both are very important but there are successful businessman who started their business with very little money. But they had right skills and people around them to work together and turned it to a successful business.

 

[Godspower]

I think both knowledge and money are very important in starting and running a business. Good knowledge of business ideas and strategies without enough capital makes it different to run a business. Also having capital without the right business ideas will also make your business not to grow.

 

[Kaffyfolla]

Both money and knowledge are needed in business, if you have just only knowledge without money, the project can never be executed while having money without knowledge can makes you lost the money and later becomes poor

 

[Good-Person]

When it comes to business, both knowledge and capital are related to each other and both of them play a crucial role in the development and success of business. You cannot say that one is more important because both of them play big role.

 

[Skysaint]

The both are equally important for a business startup, this is because money without knowledge will make up end up wasting your money on things that aren't necessary for your business growth.
Knowledge without money will make your ideas a fantasy, for you to implement your knowledge in business you will be needing money

 

[Syldan]

Money and knowledge, are both important and they are key elements that a business can not work or function effectively without them. to me I can say knowledge is very important because it will helped you to develop strategies that will helped you to run your business effectively and also manage your money in a good manner.

 

[ahmedo24]

I also share the sentiments that both of them are very important but I believe to an extent having money you can buy knowledge because these days knowledge is not for free use money to buy it.

 

[tyrim88]

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.

The two factors are very important in the aspect of any business enterprise.Though with the right and adequate knowledge of a particular business,you can actually leverage on other peoples money to run the business operation.

 

[Hrtbeat]

To me, I think it's money. Money is really important in life although knowledge is necessary as well. But one can buy ideas with his money.

 

[Elfinito]

The most important thing is knowledge, you can have all the money but without the knowledge you can never be successful.
Knowledge they say is power and whem you hsve the power then money is just a boost

 

[YERUS]

Knowledge and money work in tandem or in a pari passu. The knowledge, experience is vital as well as the money because if I have the needed knowledge without no capital how am I going to bring the idea into reality? The idea will definitely be 6ft deep.

Knowledge is more of a prerequisite than money.
If you do not gain enough knowledge for the business, the money you have as capital would be a waste.
So, knowledge should come first.