An investor in any type of business must first have a proper idea about his business otherwise he cannot succeed in it.
This is where many investors turn into businessmen who do it wrongly. They've been doing some wrong practice that makes them think that they know everything about making money just as building wealth and starting their own businesses. It is not easy, they seem to be strong-willed but being like that isn't enough when you're doing business and creating your own asset empire. A businessman who doesn't have an idea of what he's doing is doing the wrong thing, first, when you do business you need to at least have some basic idea about it. Although some advises will tell you that everything is going to be learned in the process upon doing business. Don't believe them.
You are absolutely right. Starting a business without having prior knowledge of the basics will surely result to negative effects, not only to the business itself but to the one starting the business as well. Having prior knowledge allows us to confidently make plans for our business while thinking of all the possible outcomes of every actions and decisions we will make, it also gives us knowledge that can prevent us from beings scammed or making bad decisions that will put the business down.
