Knowledge is more important than money when starting a business, Most startups fail because the people who initiate businesses have no experience and no real idea how micro-enterprises work and the knowledge to make the business successful
Knowledge or Money: which is more important in starting a business?
- Thread starter Bookwormlux
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Neither wealth nor knowledge can be overlooked for starting a business If you do not have money you can get a loan from a bank but it is impossible to start a business without experience and knowledge Often the reason business flops is because of how people start without experience Starting a business is a big risk and it requires a one time experience
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Neither wealth nor knowledge can be overlooked for starting a business If you do not have money you can get a loan from a bank but it is impossible to start a business without experience and knowledge Often the reason business flops is because of how people start without experience Starting a business is a big risk and it requires a one time experience
That's right. There are even instances that they have the money but they are lacking in the field of experience and knowledge. And vice versa. Knowledge and money are both important factors and is needed to establish a successful business.
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The both are important because you can't succeed leaving one behind. Business is about idea which must result from knowledge. To implement or execute your idea requires money otherwise your idea is dead on arrival.
this is a good question from your side, in my point of view, I think that knowledge and money both are important to start a business. before starting a business it has to be very careful that what kind of business you want to start. but after my own experience, I think knowledge is more important than money to avoid some mistakes that occur in starting orders.
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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.
Both of them are actually necessary in anyway we are in the world ,both in business and in normal day life but I think money should be the most important thing seconded by knowledge because if you combine both of them together you will succeed anywhere both in business and in whatever you are doing.
In a business money an knowledge both are much important. Because if u have a knowledge and no money then u can't start any kind of buainess... Business thrive on the availability of money to put things in place. Money helps to you for buying and selling the product and knowledge helpes you to show your talent and experiece in your field... with knowledge you can convert your little amount of money into huge amount..
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You need money as well as knowledge to start a business and makw it a success. However, if I can choose only one, I will choose money. If you have money, you can hire skilled and knowledgeable staff. Aa long as you have a great team, which you can set provided you have money, yoir business will be successful.
both knowledge and money are important in ruling a business.both work together for success in dealing with business.knowledge is required in order to be able to put money into action and to be able to put money into use while knowledge is required in order to make money yield
Money is just a note, paper that comes as a result of values you create and problems you solve. Knowledge helps you to solve problems. Someone without knowledge will hardly make money. It is the knowledge you have in that your area of expertise that is bringing money to you. Whatever you have no knowledge of can never bring you money. It is better to acquire knowledge that to always be money monger. If you have knowledge it will automatically bring money to you.
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Knowledge and money are very important in starting any business but the most important is knowledge, if you have money and you don't have knowledge the your money will not be spent wisely, you will be mislead and you might not last longer in pursuing your dream business. But when both is in place you are good to make your business greateful and it will really expand to the topmost top. So seek both
Your understanding of what customers want, combined with your workers' know-how, can be regarded as your knowledge base. Using this knowledge in the right way can help you run your business more efficiently, decrease business risks and exploit opportunities to the full. This is known as the knowledge advantage
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Your understanding of what customers want, combined with your workers' know-how, can be regarded as your knowledge base. Using this knowledge in the right way can help you run your business more efficiently, decrease business risks and exploit opportunities to the full. This is known as the knowledge advantage
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Your understanding of what customers want, combined with your workers' know-how, can be regarded as your knowledge base. Using this knowledge in the right way can help you run your business more efficiently, decrease business risks and exploit opportunities to the full. This is known as the knowledge advantage
Knowledge and money both are essential to start new business. To start business, it is impossible with anyone from both because if you have only money, you can start business but you have faced many difficulties and get loss in business so you can not become successful due to lake of knowledge. If you have only knowledge not money, then it is more difficult to start new business.
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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.
I agree with your viewpoint. Even though you need both to become a success with your business, you can still become successful even if you do not have the knowledge provided you have money to hire qualified individuals for your business. When you have enough money, everything is possible.
Knowing how a business works, what are the four key parts, and why the inter-related nature of these parts is critical is as important as having money to buy your way out of problems. Money is the fuel on which your business runs. It’s critical not to waste it. Knowing where you’re going and clearly understanding what your customers WANT from you (as opposed to what you believe they NEED) is critical to your eventual success
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You are very correct, knowledge and money are equally needed in starting up a business, money without knowledge will just be a waste, and knowledge without money won't be actualized, but ideas should take the lead in order of priority
Nither is more important than the other. if you have knowledge of a business and you don't have the money, you can still do anything, you cannot achieve anything. but if you have the money and you don't have knowledge of the business you, are still bound to fail in the business so both are very important
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