How do one invest in business one doesn't has skill?.

[hastral45]

My fellow members in the house, is it possible to invest in business you perceived as lucrative but one lacks skills and techs on it?.
One would have thought it is good to employed skillful personnel to handle such business. But one thing I discovered is that the moment perceived you knew nothing about the business, you will be cheated upon. The business would be mismanaged to their own advantages. And finally, it would be liquidated. How do you think this could be done successfully?.

 

[Chibson]

It is not advisable to invest in a business venture you do not have knowledge of. You will actually make a lot of mistakes and make losses.

 

[hastral45]

It is not advisable to invest in a business venture you do not have knowledge of. You will actually make a lot of mistakes and make losses.

That is assumption. But in a society where there is sanity, this shouldn't be problem at all. We have scenarios in business partnership where one partner is sleeping partner and the other person is managing partner.

 

[cherry123]

You need to start learning because truthfully, it isn't advisable to invest in a business venture you do not have knowledge of. You don't have to waste your money get the skills first

 

[astutimeliana723]

You need to start learning because truthfully, it isn't advisable to invest in a business venture you do not have knowledge of. You don't have to waste your money get the skills first

Yeah right, I totally agree with you. Before investing, we need to learn many things, starting from the profile of the company where we invest, how much profit we are likely to get, and so on. Because business investment without skills and knowledge is too risky and easy to deceive.

 

[cherry123]

Yeah that's the right thing to do you don't have the skills then go ahead to learn it you can do better with the business when you learn many things about it

 

[IB D]

Before you invest in that business, be sure to take time and study how that business works especially the financials. That is so that the people you employ would not exploit and cheat you.

 

[uptrendfinancialsignal]

Practically, it is not proper to invest in the business that you knew nothing about or you lack the understanding because it will result in a financial loss.

 

[Etini Willie]

You would need to study first before you invest in such a business. And you need to build relationships with people well versed in the business. They would serve as a guide to you.

 

[Springtime]

I would hesitate to invest in a business if I do not have the required knowledge about the business. Even if you would like to be a silent partner, you need to know the competitive advantage of the business before you put money into it.

 

[Stardom22]

For a very serious business person that they know what they are doing, I think they can never invest in the Businesses or avenues that they don't understand and have no knowledge about them.

 

[Chibson]

That is assumption. But in a society where there is sanity, this shouldn't be problem at all. We have scenarios in business partnership where one partner is sleeping partner and the other person is managing partner.

Well, in case of partnership that can be the case. There are some members in a limited liability company that are called dormant members while there are active members that are responsible for running the business.

Post automatically merged: Apr 23, 2023

That is assumption. But in a society where there is sanity, this shouldn't be problem at all. We have scenarios in business partnership where one partner is sleeping partner and the other person is managing partner.

Well, in case of partnership that can be the case. There are some members in a limited liability company that are called dormant members while there are active members that are responsible for running the business.

 

[Yohanna]

It's not advisable to engage in a business that you do not have the prerequisite experience about.

 

[Etini Willie]

It is possible to invest in a business you don't know anything about but you should be very careful to understand the basics of the business so you can know how to supervise the business.

 

[hastral45]

There are many businessmen who invested in businesses they don't have skills. It is possible but risky. What they normally do is to engage the services of skillful workers to manage the businesses for them. But it is advisable to learn the process.

Post automatically merged: Apr 24, 2023

Let truth be told. Before you embark on certain business, try to go for the skill acquisition relating to that business. If you invest in what you lack skill to operate, you shall be exploited by those assistants you engage in the business.

 

[Chibson]

It's not advisable to engage in a business that you do not have the prerequisite experience about.

There is a clear difference between knowledge and experience. You can venture into any business you do not have experience of but going into a business you do not have knowledge of is dangerous. It is consistency that makes you to be experienced.

 

[uptrendfinancialsignal]

It's not advisable to engage in a business that you do not have the prerequisite experience about.

You have an important point because it is never encouraging to engage in a business that you do not have an experience about.

 

[Heatman]

It's not advisable to engage in a business that you do not have the prerequisite experience about.

The only way you can be able to invest in this kind of business case if you hire someone that have a knowledge in that particular business and get the person to run the business on your behalf.

 

[Chibson]

You have an important point because it is never encouraging to engage in a business that you do not have an experience about.

most people that venture into businesses do not have experience about it. It is constant practice that makes them experienced.

 

[Shavkat]

Self-studying for an aspiring enterpreneur can be done. It does not need to enroll oneself to a formal business school. They can have the learnings through online or attend some seminars offline.