Think And Grow Rich Chapter 5 - Specialized Knowledge

Published: 22 March 2024
on channel: DeDutchman

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Personal experiences or observations, the fourth step toward riches.

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There are two kinds of knowledge. One is general, the other is specialized. General knowledge, no matter how great in quantity or variety it may be, is of little use in the accumulation of money.

Knowledge will not attract money unless it is organized and intelligently directed through practical plans of action, to the definite end of accumulation of money.

Knowledge is only potential power. It becomes power only when, and if, it is organized into definite plans of action and directed to a definite end.

An educated man is one who has so developed the faculties of his mind, that he may acquire anything he wants or it’s equivalent, without violating the rights of others.

Edison knew nothing about the sciences, but he surrounded himself with who did understand the sciences, technical and educated men. He used their brains just as successfully as if he had the knowledge himself.

Every successful man makes use of other people’s knowledge, influence, and education under the mastermind principle.

Any man is educated who knows where to get knowledge when he needs it, and how to organize that knowledge into definite plans of action.

You will require specialized knowledge of the service, merchandise, or profession which you intend to offer in return for fortune.

The accumulation of great fortunes calls for power, and power is acquired through highly organized and intelligently directed, specialized knowledge.

Specialized knowledge is among the most plentiful, and the cheapest forms of service which may be had. See the payroll of any university for example.

It pays to know how to purchase knowledge.

Decide the sort of specialized knowledge you require and the purpose for which it is needed.
Have accurate information concerning dependable sources of knowledge.
One’s own experience and education.
Experience and education available through cooperation with others (mastermind alliance).
Colleges and universities.
Libraries, books, and periodicals [Google and the internet now].
Night schools and home study schools.
As knowledge is acquired, it must be organized and put into use, for a definite purpose, through practical plans. Knowledge has no value except that which can be gained from its application toward some worthy end.

Successful people, in all callings, never stop acquiring specialized knowledge related to their major purpose, business, or profession.

Anyone who has the ambition to give up a part of his spare time to studying at home has in him those qualities which make for leadership.

We rise to high positions or remain at the bottom because of conditions we can control if we desire to control them.

The idea is capable of yielding an income far greater than the average doctor, lawyer, or engineer. There is no fixed price for sound ideas.

There is a universal demand and an ever-increasing opportunity for the person capable of helping men and women to sell their personal services advantageously.

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