I am asking this because in my country there are a lots of business owners who haven't learn any formal educations, some are learned till 4th grade and some are learned till grade 10 but even there are a lots of wealthy peoples who don't even know how to right their names and don't know how to read, and i wonder all business types don't need knowledge to run it and to become profitable with it all it needs is skill and open mind set with creativity.
IS Knowledge mandatory to run all thyps of business?
- Thread starter kirubel
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- #3
I also used to think like you, i know knowledge is needed to get successful business, but like i said on the post most of reach peoples in my country are not educated and they didn't learn any formal education, that made me think in the other way.
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- #5
True, having some knowledge and having some experience on the thing we are going to do or on the business we are planning to run is good thing, and yeah it could increase productivity and profit on that business, but it should be all kinds of knowledge.
There is some difference between education and knowledge as one can get the knowledge without any formal education, so here in my nearby areas people are running business perfectly without any formal education but they do have the sense of business as well as extreme knowledge about it.
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- #7
True there are a huge difference between knowledge and education, and yeah one can run a successful business without having any education, and also in my country there are a lots of business owners who are profitable but don't have any formal educations.
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- #10
I have also seen so many rich and wealthy peoples who have no formal educations and some of them only learned few grades, some rich peoples even don't know how to read but they managed to be reach.
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- #13
True, basic knowledges are needed to be successful in a business, and in order to get profit from it and in order to run the business without falling those basics are mandatory. even if a person is not learned formal education they can run a business.
Yes, infact every business needs one from of knowledge or the other. Even something as simple as buying and reselling, you would still need to know where you can buy them the most cheapest, and how much others are selling.
Without knowledge, you would not be able to run any business successfully. You need knowledge for every business you run.
Knowledge should be the first thing that someone running a business should always go for before starting the business.
