In starting a new business which is more important, money or idea?

marcusfe

Well-known member
We all know that money is very important in achieving anything in life, that is the Holly Bible says " money answers all things ". Starting a new business requires putting some important things in place, if those things are not available or complete, I don't think that one is ready for business yet. In my quest for business knowledge I've come to discover why is more important that money in business creation. You might have a whole lot money to create as many businesses as possible but you don't have the idea first your money may be as good as useless. In the process of business creation, idea comes first before every other things. Even in the order of importance money is not the second. The next important thing after idea is planning.
 

Snazzy001

Active member
In starting a business, both are important for the business to get established.its just that their importance is in form of hierarchy.i think money is more important.you can have the knowledge but no money and that means no money for you.similarly you can have money but still start business and seek knowledge elsewhere
 
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Teatea

Well-known member
Both money and idea are important but I think idea comes first. You can not possibly do anything with your money without a business idea. You have to come up with something to do first, and then look for capital or you use the one available. It also depends on each individual's choice, some people may feel money is more important and should come first to avoid delay when idea is available while some argue that idea is more important.
 
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Victor001

Well-known member
Idea is very important, we shouldn't override the impact of idea in business,money on the other hand is essential,money is an easy commodity most people have to run the business,but the idea is the driving force to implement the business. Idea can overcome the risk if well implemented,money can only provide backups to sustain the idea.
 
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IamDozzy

Valued Contributor
Well in the chronological list of things needed to start a business, business idea is the first. But let's us be honest with ourselves, without money your busy idea is nothing as in it is going nowhere. Money is very important in starting a business infact it is the most important. One can never belittle the function not money in a business because it is what is needed to make the idea a reality. Without money business idea is just a dream yet to be fulfilled.
 
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Daykas

Well-known member
We all know that money is very important in achieving anything in life, that is the Holly Bible says " money answers all things ". Starting a new business requires putting some important things in place, if those things are not available or complete, I don't think that one is ready for business yet. In my quest for business knowledge I've come to discover why is more important that money in business creation. You might have a whole lot money to create as many businesses as possible but you don't have the idea first your money may be as good as useless. In the process of business creation, idea comes first before every other things. Even in the order of importance money is not the second. The next important thing after idea is planning.
Both actually work hand in hand. An ideal without money most times end up been nothing but you can have money and still employed people with ideal to work for you.
But the best is for you to have you own ideal and money,because with this you will be able to have a proper planning for the business you want to do.
But the first thing to have is Ideal,then you do proper planning and check the pro and con of your business.
 
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eojo2401

Well-known member
To start a business ventures, money is more important than idea. If you have money and you are wise enough to used your IQ, you will buy nice ideas and business plan from the investment analysts. There was a time when my uncle has huge amounts of money in his bank account. It was his account officer in the bank that advised and guide him on a particular investment and he went it and make handsome amount of money there.
 
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Adetayo100

Well-known member
In starting a business both money and a good idea are very important, you need both to be able to succeed in the business, some people feels once they have money alone they can start any business of there choice neglecting the most important thing in business which is having a very good business idea and plans.
 
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Samuel72

Well-known member
according to my own point of view when starting a new business money and idea a very important in the business but if I am asked between money and idea which is more important I will say idea is more important this is because idea is the act of creativity in the business and also the idea is what is going to fashion income in the business and also if you have the idea and you don't have money you can easily get a loan from the bank or from your friends and family.
 
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Simplyniyi

New member
To start a business, you need to have a goal, focus and direction you want to follow. If you have money and no idea of what to do, then don't go into business. The bible says my people perish for lack of knowledge not lack of money. Idea brings money but money can't buy idea. If you don't have idea on how to spend your money, you could become poor.
 
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Simplyniyi

New member
To start a business, you need to have a goal, focus and direction you want to follow. If you have money and no idea of what to do, then don't go into business. The bible says my people perish for lack of knowledge not lack of money. Idea brings money but money can't buy idea. If you don't have idea on how to spend your money, you could become poor.
 
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Ukohjnr

Valued Contributor
Money an idea has an important role to play when starting up a business, but the most important thing is idea, having a good idea on how to start up your business is the best because you can go for a loan to start up the business since you have a good idea of growing the business you will be able to pay back the loan in a short period of time, most people have money but they don't have the idea to manage the business properly most times the business falla
 
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Alexandoy

Valued Contributor
Maybe I have to agree that ideas come first before you can decide on a business. That means you need a complete idea of what the business is all about before you can raise the needed capital. With the money in hand and your knowledge of the business is lacking then it is not advisable to start a business.
 
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btaliat

Valued Contributor
The two are very important, but I will put much priority on money. When you have money, you can easily source people to help you with different idea. You can even contact different consultants to help you with business ideas. But you idea can die of there is no money for execution of these ideas.
 
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Chibson

Well-known member
Both money and idea I have a very important when starting a business. If you have money and you do not have the idea or the right skills to succeed in business you will end up wasting the money and won't make any progress in business. If you have idea and you do not have money to start a business then there is no way you can make a progress because money is essential business so also is idea.
 
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Mmeguyleo

Active member
With money many things can be achieved. is not every one that is blessed with knowledge of a business, so you can call some one that have succeed in life through his or her business to give you ideas on to start your own.
 
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