What do you think is the most essential element of success in a startup business? Is it Marketing or Good Management Knowledge?

Thank you for your invite. Management skills is most important as Marketing is a component of management. Therefore start up must have vision and road map drawn to achieve the goal. All these core competence would demonstrate good management.  

In my opinion and based on entrepreneurial education success is dependent upon a number of factors which include;

• Having a Plan - a plan for action based on the requirements of the business more similar to forecasting this will even enable an entrepreneur to borrow or raise capital from formal institutions.
• Hiring advisers that have more experience in the management processes accounting, markets etc. that way  mistakes are minimized ensuring success
• One must do their research of the market they want to venture into as well as the potential customers. Needs analysis of  both the customer and the business should be researched and mimic a sustainability scenario that can scrutinize even your competitors and identify business opportunities.
• Ultimately it is both a function of Marketing and Management knowledge that contributes to success. Bearing in mind that some knowledge can be outsourced using several methods as well. It does not mean the entrepreneur has to do everything.

According to me both the things are essential of a successful business startup because There are already many existing big player in the market when you are new in the market & it is very challenging to you to introduce yourself in a better way therefore   one should have strong management skills to place a right thing at right place.

New startups definitely needs very  fine marketing strategies to become successful. And to do so, one should have strong management skills to control all the operations.

!st of all Marketing itself is not responsible for the Success of any Start up business like wise management knowledge .

There are Proper Functions of Management  which are to be kept in mind while starting up of the business . Although Marketing and Management knowledge is very very important and actually they plays a important role.apart from It ,there are others function PLANNING,ORGANISING,DIRECTING,STAFFING,CONTROLLING,COORDINATING,BUDGETING AND LEADERSHIP with proper Strategies.

they are both essential for a beginner in a business, but a good management comes first in rank, not only for startup business, but it goes with the job