Hey there! I do hope you are enjoying every bit of your entrepreneurial dreams and journeys. Of course there could be challenges along the way, but what is in you is greater than the challenges you might have. In you is a sleeping giant. Go for it, and you will make it!

It’s another great weekend to share some entrepreneurial resources. Recently I promised to dedicate a blog to the importance of ‘knowledge’ to an entrepreneur, and today I intend to do just that. Today is a day to fulfill one of my promises. It’s oftentimes easy to promise but challenging to keep promises.

In the words of John Dewey; ‘Knowledge is no longer an immobile solid; it has liquefied. It is actively moving in all the currents of society’. Again, John Maurice Clarke said; ‘Knowledge is the only instrument of production that is not subject to diminishing returns.’ What is your opinion about knowledge?

Now, why do you think knowledge is vital for an entrepreneur? What are some of the key reasons for an entrepreneur acquiring and making use of knowledge? Does it make sense at all for an entrepreneur to continue learning? What benefits can a business owner gain through knowledge capital? Let’s see.

  • Knowledge enables you to master your enterprise operations. By the way, this word operation is very important, and I know that there are entrepreneurs out there who might not even understand what I’m talking about here. I mentioned a while ago that operation is the core of your enterprise. It is basically the core thing you do that brings income into your enterprise. For example, a retail business can have buying and selling as its operation. A bus company will have keeping buses on the road and in time, as its operation, just like an airline. A manufacturing outfit will have keeping production activity ongoing as its operation. Do you get an idea now? So, just tell me how you are going to be on top of your operations if you have a knowledge void? Tell me how you are going to succeed as a bus company if you have no idea of what it takes to keep a fleet of twenty buses on the road – I mean the drivers, maintenance, time schedules, handing breakdowns, ensuring revenues are fully collected etc? How will you know what works and what does not work? Imagine someone rearing chicken commercially, but without any clue about common chicken diseases and how to avoid or treat them! Candidly, isn’t this a recipe for business disaster?
  • Knowledge guides you in managing your business resources. Being an entrepreneur, you have in your hands resources such as money, manpower (human capital), machinery, materials, and even knowledge itself as a resource. Without adequate knowledge, you will grossly mismanage your resources until you simply pack and leave the business, or decide to sell it. If you have machinery, do you know the details about preventive maintenance? Do you know the fundamentals of managing money? What about managing human beings? Does it occur to you that people like to be treated with respect, just like you like respect even if you are their boss? What about the raw materials you handle, do you know the best way to keep them to avoid deterioration? How do you ensure and improve effective and efficient management of the various enterprise resources in your hands, Mr. Entrepreneur?
  • Knowledge improves your enterprise positioning and mastery of the market. I stated last time that in the market there is competition and choice. These two C’s are critical for your enterprise success. It is in the market that you will deploy your resources. It is in the market that you will convince people out there that you have some value to offer, for which they should pay, whether it’s a product or a service. You need to position your enterprise well to be able to attract the customer’s choice, and compete favourably. Don’t you agree with me? This is why you need abundant knowledge. Don’t you think so? Don’t blame anybody, including your competitor, for your business failures in the market. OK? You only have got yourself to blame if the market out there rejects your goods and services like a plague!
  • Knowledge guarantees your business profitability and hence sustainability. I will state over and over again, that profit is a key motive and driver for most enterprises. You might not agree with me but I think it is. If you don’t we can argue another day but for now let me proceed with my point. So, profit is factor of revenue and costs. Revenue is a factor of volume and price. Some costs (called direct costs) are also a factor of volume and price/cost per unit. Some costs (called overheads) are fixed in nature and are not directly related to volumes.  I also guess that you are aware of the fact that you can only remain in business for long if you operate profitably. If you don’t know this fundamental fact, then you candidly need prayers. Do you know the numbers that can ensure you operate profitably? What are your annual costs? What output and revenue levels give you profits? At what level do you break-even, hence at what level of output do you start making profits? What portion of your profit, if any, should you reserve to ensure business growth and expansion? Or are you the type of entrepreneur who eats every gain you make in a period? I leave the rest to you Mr. Entrepreneur.
  • Knowledge ensures you properly manage your enterprise growth and expansion. Have you not seen some enterprises that take steps to rapidly expand and then make U-turns in a quick and disorganized way? Sometimes it’s dramatic and catastrophic. Now, there are many considerations and dynamics of enterprise growth and expansion, and if you proceed into this zone without proper consideration, planning and execution, you will burn your fingers and make a hasty return like the scenario I’m talking about here. Do you know the human capital needs for your expansion plans? How about the working capital and other long-term investment needs for your growth and expansion? Are the markets you are going into profitable? Is there economic sense in your expansion, or you simply want to impress people or satisfy your friends who complain casually about your absence in some locations? Be smart Mr. Entrepreneur!  
  • Knowledge keeps you on top of stakeholder’s relationships. Before I proceed, let me mention here that you personally are also a stakeholder to your business. Yes I mean it. I have come across entrepreneurs who cannot distinguish between personal financial activities and business financial activities. Everything is simply upside-down and down-upside. Do you get what I mean? Now, your stakeholders including shareholders if any, creditors and financiers, the tax guys, the government and its regulatory agencies, society, your staffs etc, are vital stakeholders that need proper management. You need the knowledge to do this, if you must be successful in your enterprise. A staff strike could cripple your business in a short time. A clampdown on your bank accounts by the tax collector could jeopardise your operations. Action by an environmentalist could cause the government to shut you down. Action by a consumer who lands on a contaminated packet of your food product you want everybody to taste could give you a headache. Don’t say nobody warned you Mr. Entrepreneur! OK?
  • Knowledge helps you weather the storms of business. Again, you might be dreaming that your enterprise will never have any storms whatsoever. I can hear you speak all kinds of words against business storms. I’m just telling you to be a little bit cautious because no one knows tomorrow. Life and all its acquaintances have their ups and downs. Business is not excluded. However, with knowledge, you are not going to quit and run when sales become so low that you can remember every item sold and the buyer by name – because the numbers are so mean. It could get so bad you know. When the bankers tell you your enterprise does not deserve funding, yet creditors are on your neck, you need knowledge to know how to manage the situation Mr. Entrepreneur.
  • Knowledge enables you to build your business to last. Candidly, I think you add much value to society and humanity if you build a business that continues in existence even after you are no more, but if you want to go with everything you have, that’s up to you. Isn’t it? Even building an enterprise that spans decades is not easy. People who just jump into business without knowledge also jump out anyhow and let the enterprise crash land. Interact with as many entrepreneurs as you can. Learn what works and what ensures an enterprise continues in perpetuity.

Thanks a great deal for your time. I guess I should be running now.  Remember, knowledge is power. Get hold of knowledge and make good use of it in your enterprise. If you chose to be the opposite, you can chase vanity and lose money as much as you like. One thing you can be sure of, I don’t like being a friend to entrepreneurial losers.


The Wise Entrepreneur




  1. hermes belt says:

    I enjoy you because of each of your effort on this web page. Ellie take interest in carrying out internet research and it is obvious why. All of us know all of the lively manner you offer insightful solutions through your web site and strongly encourage contribution from the others on the idea and our own daughter is really being taught a lot of things. Take pleasure in the remaining portion of the year. You have been carrying out a remarkable job.

  2. I intended to write you this tiny remark just to give many thanks once again for those great opinions you’ve documented above. This is quite pretty generous with you to grant unhampered all a number of us could possibly have offered as an ebook in making some cash for their own end, chiefly seeing that you could have done it in case you desired. Those points as well worked as the easy way to understand that the rest have the identical keenness much like my own to learn somewhat more in terms of this matter. I think there are thousands of more pleasurable opportunities up front for folks who take a look at your site.

  3. I in addition to my guys ended up digesting the best tricks on your web blog and so immediately I had an awful feeling I never thanked the site owner for those tips. The men appeared to be for this reason happy to read through all of them and already have certainly been using them. Appreciation for turning out to be so considerate and also for considering certain marvelous topics millions of individuals are really desperate to know about. Our sincere apologies for not expressing appreciation to you sooner.

  4. I have learned new things by your website. One other thing I’d like to say is that often newer pc os’s are inclined to allow a lot more memory to use, but they as well demand more memory simply to function. If people’s computer is unable to handle more memory and the newest program requires that memory space increase, it can be the time to shop for a new PC. Thanks

  5. nmd says:

    I and also my friends ended up examining the good guides from the website and so immediately I got a horrible feeling I never thanked the blog owner for those secrets. All the women had been for that reason warmed to study all of them and have in effect simply been loving these things. I appreciate you for simply being considerably accommodating and also for choosing varieties of smart things most people are really desirous to understand about. My personal honest regret for not expressing appreciation to sooner.

  6. lebron 11 says:

    It抯 arduous to find knowledgeable individuals on this subject, however you sound like you already know what you抮e talking about! Thanks

  7. dmca says:

    whoah this weblog is magnificent i really like reading your posts. Keep up the great work! You understand, a lot of persons are searching around for this information, you could help them greatly.

  8. adidas nmd says:

    I am usually to running a blog and i actually admire your content. The article has really peaks my interest. I’m going to bookmark your site and preserve checking for brand new information.

  9. you will have an excellent blog here! would you wish to make some invite posts on my weblog?

  10. you are in point of fact a excellent webmaster. The site loading speed is amazing. It seems that you’re doing any unique trick. Moreover, The contents are masterwork. you have done a excellent activity on this subject!

  11. I think other site proprietors should take this web site as an model, very clean and great user genial style and design, as well as the content. You’re an expert in this topic!

  12. It’s appropriate time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I wish to suggest you some interesting things or tips. Perhaps you could write next articles referring to this article. I wish to read even more things about it!

  13. I intended to write you this very little remark just to thank you as before for the spectacular tricks you’ve shown at this time. It’s certainly strangely generous of you in giving openly all numerous people would have advertised as an ebook in order to make some profit on their own, precisely considering the fact that you might well have done it in the event you desired. The good ideas also worked to become a good way to realize that many people have the identical interest just like my very own to grasp good deal more regarding this condition. I know there are numerous more enjoyable situations up front for those who scan your website.

  14. I truly appreciate this post. I’ve been looking all over for this! Thank goodness I found it on Bing. You’ve made my day! Thx again!

  15. I am also commenting to make you be aware of what a extraordinary encounter our princess gained checking the blog. She mastered many details, most notably how it is like to have a marvelous helping mindset to have the rest just understand some very confusing topics. You truly surpassed our own expected results. Thanks for giving the precious, trustworthy, informative and fun tips on the topic to Mary.

  16. I gotta favorite this web site it seems very helpful invaluable

  17. Shopping says:

    Generally I don’t learn post on blogs, but I would like to say that this write-up very forced me to check out and do so! Your writing style has been amazed me. Thank you, quite nice post.

  18. You have brought up a very great details , thankyou for the post.

  19. Oh my goodness! a tremendous article dude. Thanks However I’m experiencing problem with ur rss . Don’t know why Unable to subscribe to it. Is there anybody getting equivalent rss downside? Anybody who knows kindly respond. Thnkx

  20. I’ve learn a few excellent stuff here. Definitely price bookmarking for revisiting. I surprise how much attempt you set to create the sort of fantastic informative site.

  21. Only wanna input on few general things, The website pattern is perfect, the articles is rattling great. “If a man does his best, what else is there” by George Smith Patton, Jr..

  22. I discovered your blog website on google and test just a few of your early posts. Proceed to keep up the very good operate. I simply additional up your RSS feed to my MSN News Reader. Searching for forward to studying extra from you in a while!?

  23. Thank you a lot for giving everyone an exceptionally terrific chance to read from this blog. It’s usually very good and as well , jam-packed with a lot of fun for me personally and my office peers to visit your website the equivalent of thrice per week to see the fresh stuff you will have. And indeed, I am usually motivated concerning the fabulous techniques served by you. Selected 4 areas in this post are basically the simplest we’ve had.

  24. Thanks for your entire hard work on this website. My mother take interest in carrying out investigations and it’s really easy to understand why. I know all concerning the dynamic mode you create simple secrets on this blog and even invigorate response from some other people about this idea and my princess is in fact learning so much. Have fun with the rest of the year. Your performing a fantastic job.

  25. kobe shoes says:

    I and my friends have already been following the nice advice located on your site and then unexpectedly I got a horrible feeling I never thanked the site owner for those secrets. My boys became as a result stimulated to learn them and have now undoubtedly been having fun with these things. Many thanks for indeed being quite thoughtful and also for using variety of exceptional guides millions of individuals are really wanting to discover. My very own honest regret for not expressing appreciation to you earlier.

  26. I’m also writing to let you understand what a notable experience my wife’s daughter gained visiting your blog. She came to find a good number of things, which included what it is like to possess an ideal coaching nature to get folks without hassle know precisely certain complicated subject matter. You actually surpassed our expected results. Many thanks for producing those valuable, trusted, explanatory and fun guidance on this topic to Janet.

  27. I dugg some of you post as I thought they were very beneficial extremely helpful

  28. I have to point out my love for your generosity supporting men and women that require guidance on that theme. Your real dedication to getting the message around had become especially beneficial and have really helped many people just like me to get to their pursuits. Your entire informative facts indicates a lot to me and additionally to my peers. Many thanks; from everyone of us.

  29. I am also commenting to make you understand what a awesome encounter my cousin’s child had going through your web site. She picked up a wide variety of things, including what it is like to have a very effective teaching spirit to get other individuals easily learn a number of tricky matters. You truly surpassed her expected results. I appreciate you for producing such priceless, trusted, revealing and in addition cool tips about this topic to Kate.

  30. Needed to draft you a very little observation to help say thanks yet again for the striking ideas you have shown on this website. This is so open-handed with people like you to offer easily exactly what a few people could possibly have supplied as an e book to end up making some profit for their own end, notably considering that you could have done it in the event you considered necessary. These suggestions additionally acted as the great way to be aware that some people have the identical passion similar to my personal own to understand significantly more when considering this issue. I know there are some more pleasurable times in the future for individuals who find out your website.

  31. I simply desired to thank you so much once more. I’m not certain the things I could possibly have sorted out without the type of ways revealed by you over that subject. This was a real daunting case for me personally, nevertheless seeing a professional avenue you solved that made me to jump over gladness. Now i am happier for this advice and as well , hope that you find out what a great job you’re doing instructing many others through your web site. Probably you’ve never met all of us.

  32. yeezy shoes says:

    A lot of thanks for your whole work on this web site. Betty delights in working on internet research and it is easy to understand why. Many of us know all regarding the lively medium you deliver priceless guides by means of the website and increase contribution from some others on that situation plus our daughter is without a doubt studying so much. Take advantage of the rest of the year. You have been performing a useful job.

  33. I have to show some thanks to this writer just for rescuing me from such a condition. Just after looking throughout the internet and obtaining concepts which are not helpful, I assumed my life was well over. Being alive minus the answers to the issues you have solved all through the report is a serious case, as well as ones that would have in a wrong way affected my entire career if I hadn’t encountered your site. Your good ability and kindness in dealing with a lot of things was useful. I don’t know what I would have done if I had not discovered such a step like this. I am able to at this time relish my future. Thank you so much for this reliable and amazing help. I won’t think twice to propose your blog post to any individual who desires guidance on this matter.

  34. Thanks so much for giving everyone an extremely superb possiblity to check tips from this web site. It’s always very superb and as well , full of a good time for me personally and my office peers to search your site at least thrice a week to read through the fresh tips you have got. And indeed, I am always satisfied concerning the special thoughts you give. Certain 3 ideas in this posting are essentially the most impressive I have ever had.

  35. I wanted to write you the very little observation so as to give thanks once again for those magnificent opinions you have shared above. This is so shockingly open-handed of people like you to grant without restraint what exactly a lot of folks would’ve sold for an ebook in order to make some profit for themselves, principally given that you might have tried it in case you decided. The suggestions as well worked to be the good way to be certain that most people have similar keenness the same as mine to know somewhat more in terms of this condition. I think there are a lot more pleasurable moments ahead for folks who scan your blog.

    • Clayton W. L. Mwaka says:

      It’s good to share and also give back to society. Cheers! Sure – more posts are coming.

  36. My husband and i felt really thankful that Raymond managed to deal with his preliminary research from your ideas he discovered out of the site. It’s not at all simplistic to just be handing out instructions men and women may have been selling. Therefore we fully grasp we now have the writer to be grateful to because of that. Most of the illustrations you have made, the easy web site navigation, the relationships you assist to foster – it is everything extraordinary, and it’s helping our son and our family reckon that that subject matter is interesting, and that’s highly vital. Thanks for all!

  37. I am also writing to make you know of the remarkable encounter our child experienced browsing yuor web blog. She came to understand some issues, most notably how it is like to have an excellent coaching spirit to make many more completely know just exactly a number of tortuous matters. You undoubtedly surpassed her desires. I appreciate you for giving such warm and helpful, trusted, edifying and as well as fun tips on your topic to Ethel.

  38. I definitely wanted to type a quick remark to express gratitude to you for those wonderful concepts you are writing on this website. My incredibly long internet investigation has at the end been paid with incredibly good knowledge to talk about with my friends. I would assume that many of us readers actually are very much blessed to be in a very good website with very many brilliant people with helpful pointers. I feel rather lucky to have seen your entire web pages and look forward to really more thrilling times reading here. Thanks once again for everything.

Leave a Reply

Your email address will not be published. Required fields are marked *