It is very important that you should have the sufficient knowledge before wanting to start a business. This is because you can be able to get money from anywhere provided that your idea is a positive one.
Knowledge or Money: which is more important in starting a business?
- Thread starter Bookwormlux
- Start date
Though the both ( knowledge and money) are always important in life but truth be told , we need money than knowledge because there are many people out there with first class and they are working for rich people that doesn't have half the knowledge they have.
Knowledge is similar to oil in a car that needs to be constantly checked, changed and put into a car. Money is also what sustains it. But more importantly, knowledge of how to use that money prevails. So, knowledge is the most important to me.
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Business capital is the most important thing that one must have before thinking of establishing a business. I don't really see the need of having a business idea when you don't have something to execute this idea. It is rather better the other way around.
When starting a business , what matter most and very important in business is the money you needed to start the business , knowledge alone cannot start a business without the needed capital to fund the business.
Though the two are very important in the aspect of running business,but i think the most important in the operation of business is the knowledge about the business,because one can substitute and get a partner for financing.
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Both knowledge and money is very important and necessary for every individual. If you have money without knowledge you will end up losing everything. You can as well have knowledge without money but you can use it to make money.
Having enough knowledge of how a business works is very important and necessary to succeed. One of the major reasons people do not succeed in business is lack of knowledge and proper understanding. Money is also important because it has a lot of roles to play.
I quite agree with you. Knowledge is very important than money in starting a business. It baffled me a lot when I see a lot of people saying the only thing need to start business is money. The reason why many business went bankrupt is because the owner lack knowledge on how to run a business.
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The two factors are actually good in the aspect of setting up a business,the knowledge of the terrian and the customers as well as the needs of the market are things that are very crucial in the whole business setup.
Probably, having good knowledge of the environment you are doing business or is very important and necessary. it is always important that you try to determine what people in a particular environment wants before starting up a business.
Knowledge and money, this things works together, there's no way your business will be successful without the two of those things, all of them are very important.
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That is very important especially when the business is a new start up,because the terrian and the customer behaviour is very important,you will need to know the actual needs of the customers and the possible solution you are bringing in.
Yeah, one of the best ways of becoming successful in anything you do is to provide solution for people. If your business is solution based you will make profit.
Probably, it is almost impossible for anyone to succeed in any business if they do not have concise knowledge of the business they are into. It is something business people need to put at the back of their mind.
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I guess that money could be important as you can gain knowledge by the passage of time. However, I am not saying that knowledge is not important. You must start your business once you gain sufficient knowledge.
True, but their are some kinds of people these days that don't really make research in the kind of business they are venturing into, all they care about is the positive side of the business.
We need both knowledge and money in order to be succesful in a business , knowledge has it own uses while money also has it importance in the survival of a business .
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Knowledge about everything that you are likely to meet along the way is something that you should not take likely if you are somebody who wants to study business. It is going to keep you prepared and you are going to know exactly what to do.
One of the ways to really be ahead and grow vwry fast at what you do,is that youn must be able to identify the real needs of your potential customers,and then come up with genuine solution to the problem.
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