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

[Adebayonle7]

None is greater than the other. As it is on one hand, so it is on the other. Both are needed and they compliment each other so much. Without money, you do not get funding to begin or keep your business going. Without experience and knowledge acquired through experience or learning and study, the business is bound to be stagnant or fail as a whole. Anyone who wants to have success in their businesses need to combine these 2 so well that are balanced like an equation. None is better or more important because even if a rich man who has no knowledge about the business employs another to manage it, the manager applies his own knowledge to make the business work.

 

[Osaz96]

They are both of great importance I don’t think one is more needed than the other. The launch into any business you need adequate knowledge about it so you know how to start and mistakes to avoid after gett Adequate knowledge you need money to kickstart the business if you say it’s only money you need it means you have to pay someone with the knowledge to help you run the business.

 

[Life drama]

Both are very important,money and knowledge are the basics to start a business.i will prefer knowledge due to the fact that people will look for a knowledgeable man, your knowledge about something will surely bring you money.

 

[Pirate]

Thats a tough one there because two of them are quite the most important, will a business be able to swing into action without any?
But if i were to tip the scales a little, then it goes to knowledge, that knowledge makes us merit a business. Without knowledge, if you start a business with only money your business might not be really successful. But if you start wotgout money and with knowledge, you can grow your business beyond your wildest expectations.

 

[giddy]

Intelligence is a mental aspect and has nothing to do with money; agreed, money can get you a better education, but that does not equate with intelligence at all. ... Money is really important but still only intelligent and smart working are always recognized much and earn money much.

 

[GIFTMICHAEL]

I consider that there are certain things that money cannot replace and one of them is knowledge, you can have all the money, all the capital in the world but if you do not have the correct knowledge you will not know what to invest it in and you will end up making bad decisions and losing what invested

I really agree with you on this. Knowledge is priceless and without knowledge the money you want to use to start a new business will definitely crumble and the money will absolutely be lost.

 

[maventiger]

@Holluwaphemmy I agree with you on that. Both is needed to successfully run a business. Both knowledge and Money are necessity to be successful, and having only one the two cannot take you far in any business. The reason most great ideas die being a perfect one because no money/capital to actualize it.

 

[Samuel77]

According to my own point of view, I believe knowledge is one of the most important thing is life, but when starting a business money is more important, if you don't have knowledge about a business, you can easily employ someone with good knowledge of the business, but if you don't have money. You will need to work hard for many years to startup a business

 

[tuna89]

Having money is very important, you can always employ professionals when it comes to creating a business plan as regards the kind of products or services you wish to offer and the patronage or buying power, from here you are able to get great knowledge of what you are about to begin, as time goes on, you employ other professionals to manage some aspects of the business like marketing , HR and more.

 

[Hdre3m3n]

Money without knowledge is useless. To start a business, money is very important but the knowledge to run the business is more important. The knowledge will build ideas on how to run the business successfully even with little resources

 

[WhiteHouse]

This is a tough one, I really can't say but they are both needed and important.
knowledge and money are directly or indirectly proportional to each other.
So maintain both to pursue your life happily.

 

[Abigael]

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 both of them are really important as the business cannot succeed if one of them is lacking. You may have very good business ideas, knowledge and skills but lack the money needed to start that business. On the other hand, you may have money but lack the skills necessary to run the business. But at least when you have money, you can hire professional people to run the business for you.

 

[Shivay]

Both money and knowledge have equal role in starting a business. A businessman who has all the two is proudly called entrepreneur. Without Knowledge you cannot do a business and without money you cannot carry on a business. Both are independent on each other.

 

[Ifective]

I believe they are equally important. One can have the money to start of a business but don't have the knowledge to go about the business. Likewise, one may be filled with knowledge, but no capital to start up.

 

[Emma Aneni]

I feel both are very important you can't have money without knowledge you'll only spend the money on things that are unimportant. And you can't have knowledge without money what will you use to start the business? Both are important and should go hand in hand.

 

[Blue house]

It hard to choose both are essentially important and hard to choose between because if you have money and you dont have knowledge about the business, the business will eventually sink like a capsized boat and if you have knowledge without money, where will you get the fund to start. But the worst is to have none of the two.
If you have knowledge, you can use it to find money to start business.
And if you have money you can employ someone with enough knowledge to work for you.

 

[iamgroot]

Knowledge first. Having money without knowledge will lead you to loss all or most of your profits and assets beacause you dont have the knowledge how to handle it. But if you have knowledge, even without a single penny, youll able to find a way to gain assets. Try to educate a person with a lot of money and he will just talk and look you down, but give a well educated individual an asset and he will manage to grow it.

 

[Chineric]

I would pick knowledge over money anyday, although let me state here that I believe both are necessary for the success of any business. Without the prerequisite knowledge of how a business works as well as it's unique challenges, investing money into it is a risky thing, as the money could be lost in a short space of time. Knowledge however, keeps you in the business even if there's not enough money to start with. People have been able to raise capital for businesses because they are able to draw up solid business plans base on their knowledge of the workings of the business, so knowledge is more important.

 

[Chuksvicthor1]

I think money is more important because I can always employ someone that has vast knowledge on the business I want to venture into. If you have good knowledge on the business and you don't have enough money, there is no way you are going to be able to start the business. Tho it is going to be very profitable if you have both.

 

[Adegbindin Abdullahi]

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 as a knowledgeable person rather than a rich person. With knowledge one can acquire more money, but money alone will not help to acquire knowledge