Money or Ideas, what do you really need to start a business

[Maks25]

This may read impossible but i want to tell you that you do not neccessarily need huge capital to start your business, the most important thing is the idea behind your business.Your idea is the product you intend to sell. MONEY DONT MULTIPLY , IDEAS MAKE MONEY. many businesses have failed today because the entreprenuers had too much funds than required in the running of thier businesses.
What you need to start a business is IDEAS and little capital. My overall position is that ideas are more important than capital because $1b without an innovative idea will shrink in no time because bad decisions will be made and losses will set in. Maks25 had an idea of how much he wanted naija banks to have as capital base, he did not tell the banks where those billions would come from, and no one thought the consolidation thing will ever become a reality. I am sure his predecesors would have thought such an amount can never be met by banks.

 

[Jonaville]

You are absolutely right, but I think it goes both ways. Ideas may be very important but money is also important to an extent. While it is true that you can have all the money in the world but if you don't have any idea on how to start a business the Money is as good as useless. Now thinking about it from another perspective, you can have millions of business ideas but without money they are still what they are: 'ideas' which in the long run become useless if there is no money to act on it.. So both should be considered very important factors when it comes to starting up a business. In fact, there is an African proverb that says 'idea plus money equals more money'. This means ideas alone cannot bring money, think about it.

 

[Olajidey]

Money and ideas work together when going into business, if you have the money to start the business without ideas what did you think will happen to the business in few years time or if you have an idea without money what did you think will happen will you be able to develop the ideas into work. so money and ideas are really necessary for starting a business. if these two combines together the business will be a successful one.

 

[Deleted member 27583]

This may read impossible but i want to tell you that you do not neccessarily need huge capital to start your business, the most important thing is the idea behind your business.Your idea is the product you intend to sell. MONEY DONT MULTIPLY , IDEAS MAKE MONEY. many businesses have failed today because the entreprenuers had too much funds than required in the running of thier businesses.
What you need to start a business is IDEAS and little capital. My overall position is that ideas are more important than capital because $1b without an innovative idea will shrink in no time because bad decisions will be made and losses will set in. Maks25 had an idea of how much he wanted naija banks to have as capital base, he did not tell the banks where those billions would come from, and no one thought the consolidation thing will ever become a reality. I am sure his predecesors would have thought such an amount can never be met by banks.

Don't you hear what people say all the time,and I quote ,they said idea without money is nothing ,so if you have all the idea in this world and you don't have money to bring it into reality and no one is ready to work on your idea,forget it you have nothing ...

As for me I will always pray we all have much money or capital to execute any good business idea we have in us,so with that our business we go on as we want it to be...
I will advice you that have a good business idea to go on and work under a company and make someone money and also get the habit of saving,so at the end when he or she have save more as a capital needed for the business, should quite the company job immediately...

And start to work on his or her idea ,and pray towards it as well to be able to make it more when you start your business,because with prayer everything is possible...