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Do you need money to make money

Created by : Abhishek Sinha, Freelancer, Management & Strategy Consulting  | 07 06 2010 11:27:48 +0000
Keywords : do you need money to make money
Activity:  530 views;  last activity : 07 10 2010 13:28:03 +0000
 
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Its idea and organisational skills that help you make money Vs its money which helps create product differentiation
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Initially yes but after a business is established it is the skill and talent that brings us money. We should be smart in planing and organizing things and develop good strategy to work it out.......   
By Amit Madhav, Senior Consultant, GKC  07 07 2010 11:57:46 +0000
 
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Yes. “Like things Attract”. You first need money to start anything. You put in more money and you will make much more money. It is like that. That is the universal rule. Very few have made it very big by just their ideas, innovation and organizational skills alone.

Yes, you definitely need ideas, innovation, etc., but more important than these, is the CAPITAL. Without capital, one would be running around with ideas, innovation, etc., and spending most of his time getting things work properly. In most cases things fizzle out and do not take off.

A few come with “earth shattering” ideas that click without money, but not everyone comes up with such an idea that clicks even without any investment. This is similar to trying out your luck at Bollywood. One of the three things given below happen:-

- Tens of thousands try to become lead actors (like having   The Idea), but very few, I mean VERY FEW, click and   make it big.

- Some others end up becoming junior support artists, and   that too if they have some luck (like selling The Idea to   someone else and working for that someone). In this case   they might make money, but not as much as they would   have if they had struck it alone.

- The rest just fizzle out.

And then consider this. I have a great idea (according to me) that I am currently working on and would like to patent it in all countries. For this I may have to spend quite a hefty sum (may be even upwards of 20 lakhs). And then, I have to make the prototype during which time the idea would be leaked out and hence the risk of it being copied (if I don’t patent it). Whereas, if I had the money, I can hire good people to work for me, get very good advocates to work on the patents, negotiate the best deals with venture capitalists (because I would go to the meeting with the attitude “if not you then the next”), etc. If I don’t have the capital, then things move slowly and I have to compromise on a lot of things and settle for my “Second Best” interest only.

 “Money, Money, Money… must be funny, in a rich man’s world”
By G A Narayan, VP - Marketing, KE Housing P. Ltd.  07 07 2010 14:12:36 +0000
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THE ORDER OF PREFERENCE TO SELL A PRODUCT AND MAKE MONEY IS AS FOLLOWS:

MEN,MONEY,MATERIAL,MACHINERY&MARKETS.
By s.baalu , Consultant, XYZ LTD  | 07 10 2010 13:28:03 +0000
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"No we need an IDEA"..Blah Blah Blah.. i have seen many people argue this... but if u look back in history, all big business ideas needed money to become BIG !! Eg: Facebook, Google , etc. You can start a business with an idea. But it will take ages to reach BEP. If you have to make Money , You need Money ! 1. Facebook -
By Aditya Kumar, Senior Consultant - ERP, FLSmidth  | 07 09 2010 20:51:45 +0000
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I agree with your view point Mr.Amit and you are absolutely correct.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 07 08 2010 19:05:50 +0000
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In my opinion both are true. But, money makes money theory have limited scope of growth than the innovative idea and disciplined organizations.


By Santosh Kumar Mohanty, Civil Engineer-Municipal, Sambalpur University  | 07 08 2010 11:43:00 +0000
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Yes Amit you are right but you are talking of a long term goal of an organisation.

That how exactly all the organisation looks at the prospective in long term which is dived in partts like short term prospective and long term prospective which is based on turnover and profit ultimately money bring in money and the organisation grows and this is a natural process.
By Rathin Deb, Freelance Retail Consultant  | 07 08 2010 10:04:54 +0000
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There are so many industrialists, who started their busyness from the scrach only due to organisational skills and will force.
By R N Bhattacharyya, Freelancer, Freelancer  | 07 08 2010 06:43:43 +0000
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Actually its true that without investing you dont expect returns. Either you invest money and then expect results or if you have invested in yourself, that is invested in your studies, improving skill sets, knowledge of a product and idea, then its poosible you may make moeny is jobs or people can forward to finance your idea and who knows it may be a boom idea, unthinkable earlier. The examples are plenty. And most of all if you cant carry forward the idea as it may require heavy investment, you can anyday sell the idea at a price and get compensation. Organisation skils or staffing or systems , all come later on and can be hired with money but the initial ideas will be your own and it does not cost. Of course bigger money makes your growth faster as money attracts money.
By Prabhakar Srivastava, Principal Consultant, Future Next Consultants  | 07 08 2010 06:40:59 +0000
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yes money makes money when its in the hands of organisational skilled.
By N.Rajarajan , Project Lead, wintek technology india private limited  | 07 08 2010 05:56:36 +0000
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Initially, you may need money as startup capital to commence your business. However, your core business is dependent on the business idea/concept. If the idea/concept is not good, then money is not going to solve the problem and sustain the business in the long run. Additionally, the business capability and the operational capability in running the business is important for the long run. These are skills that cannot be substituted with money.

Thus, initial seed money may be required to establish the business (in any venture). However, subsequently, it is the skills (business, operational, managerial, risk taking ability, etc.) which decides how you sustain the business in the future and thereby make money and profit.....
By Badri N Srinivasan, Head - Quality, Valtech India Systems Pvt. Ltd.  | 07 08 2010 05:53:28 +0000
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yes money is needed to make money ....... u can see the example that if we want to start any business then u should have enough amount..........
By Mohit Gaur, Sales Executive/Officer, Ajanta Pharma Ltd.  | 07 08 2010 05:40:58 +0000
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Hi,

It's really a best topic to discuss...

As per my understanding money is not a matter or hindrances to make money, It's all about to leverage your time...

To know more, you can buzz me at any time @09920911002
By Nagraj Shetty, Independent Associate, LEADING MNC  | 07 07 2010 12:56:57 +0000
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My Ideal Steve Jobs, co-founder of Apple Inc, once said that Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It's not about money. It's about the people you have, how you're led, and how much you get it. Does not it sound true to the core. At the end of the day, its an idea that makes you jump off your chair and your people that drive you to achieve.
By Vinisha , Content Manager, Vcare Corporation  | 07 07 2010 12:37:21 +0000
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In todays world where what really matters is how good your product is to earn profit
By Abhishek Sinha, Freelancer, Management & Strategy Consulting  | 07 06 2010 11:27:48 +0000
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Every man don't have ideas and organizational skill, they only know that what to invest and what will they get from it. Even those who have ideas and organizational skill needed money first to implement the same
By SUNIL KR. KULSHRESTHA, Asst. Manager/Manager -(NonTechnical), JK Cements  | 07 11 2010 10:53:26 +0000
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No doubt, you need money to make money. There are exceptions, that primarily using manual works & obtaining remuneration as compensation   Also middle-man broker does not need money to eke-out. But, in majority of cases, money, definitely ,help multiply it. Idea, organisationational skills are all plays a vitol role. But, to translate those into action , every one involved in  will ask for money. Its an essential ingradient to make money.
By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 07 09 2010 15:10:27 +0000
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Wealth begets wealth. You can only get more if you already have enough. That's the rule of the world.
By Aditya Iyengar, Product Lead - Bullion, Base Metals & Energy, Kotak Mahindra Bank  | 07 09 2010 13:09:20 +0000
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It is ultimately the money which helps in creating product differentiation. Look if do not have ideas you can buy ideas from the market. If you do not have the skills you can hire skills from the market. But if you do not have money you can not buy money from the market purely with the ideas and the skills. Like one of my friend said their very few earth shattering ideas which do not require money. Otherwise it is only the money which matters in the end. It might seem arrogant but it is the truth. We have accept the reality. You might give examples of individuals having ideas and succeded in creating product differentiation but they are very few and can be counted.


By Aditya Sharma, Insurance Advisor/Analyst, LIC OF INDIA, ICICI LOMBARD  | 07 08 2010 06:38:30 +0000
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If the question was what determines a successful venture - money or idea/organisational skills that help one make money, I would have said it is the latter.  But the question is do you need money to make money...

We need money to start a venture and run it.  But with modest money available but idea/organisational skills given a larger priority, a venture can be a big success.   
By SR Sham Sunder, CEO/MD/Director Technoaid  | 07 08 2010 05:13:11 +0000
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