What about the importance of specialized knowledge?
This post will discuss the 4th principle of wealth mentioned in Napoleon Hill’s work “Think and Grow Rich,” the importance of specialized knowledge.
There are 2 kinds of knowledge, general and specialized.
Most of us get a general knowledge education by attending school, from 1st grade through college. General knowledge, though, isn’t much use in accumulating wealth. That’s why there are so many college graduates looking for a job, many having to move back home with their parents.
Knowledge needs to be organized and directed through an ACTION PLAN, with DEFINITE GOALS toward the end result of GAINING WEALTH.
I’m sure youve heard the term “KNOWLEDGE IS POWER.” Napoleon Hill says that it’s not true. He says that knowledge is only potential power, and that it only becomes power when it’s organized and directed toward a definite end.
The problem with today’s educational system is that the institutions of higher learning don’t teach their students how to use the knowledge they have taught them.
So, is there a difference between schooling and education? A person can have many years of schooling and be lacking in education, and conversely, a person can become very well educated through life experience and specialized training yet have very little formal schooling.
Napoleon Hill describes an educated man as one who has developed his mind so that he may obtain anything he wants without violating the rights of others. An educated person knows:
- where to get the knowledge he needs
- how to get it
- how to use it to reach his goals
- who can help in the process
Specialized knowledge is essential in developing your DESIRE into the final result of WEALTH.
Let’s apply this principle to goal of building a successful online business.
Let’s also use affiliate marketing as our business model. Affiliate marketers advertise products from other companies through an affilate contract and when a customer buys a product the affiliate has advertised, the company selling that product pays a commission to the affiliate. It’s a business model where you can market products without having to purchase or hold in inventory those products.
It’s a win for the company, because more of it’s products are being sold without the company having to spend money on promotion or advertising. It’s a win for the marketer becasue he or she can earn a commission on product sales without any need to maintain an inventory.
Ok. For our example here we’ll say you attended a prestigious universtiy for four years and obtained a Bachelor’s Degree in Underwater Basket Weaving.
Does your degree in Underwater Basket Weaving qualify you in any way to succeed with an online business?
Probably not so much. Underwater basket weaving can probably be considered as specialized knowledge. I don’t know what the market is for baskets woven underwater, but it’s probably not enough to make you rich unless you can market your products to a very large customer base, which usually means selling online. Then maybe your target market will be big enough to earn you a comfortable income.
Think about this: Suppose you have spent four years learning the secrets of making great baskets underwater, and suppose that there is a good market for them. You start up a company and begin making baskets to sell. Will you make more money selling them at your booth at the neighborhood flea market, or at your store in the local mall, or will you make more by marketing your baskets online? That’s a trick question in a way, because there may be a huge market online, but if you don’t know how to reach them you won’t reach them.
If you can’t reach your potential customers online, you might as well have a booth at the local flea market.
That’s where I come in. I’m that affiliate marketer I mentioned earlier. I’ve learned the ins and outs of the internet, and know how to reach the customers you seek. You and I set up an affiliate contract, and while you are selling your baskets out of your store, I am selling your baskets online. It’s a win-win for the both of us.
How did I learn the secrets of internet marketing? I had to get specialized knowledge and training. I used a platform called Wealthy Affiliate that taught me how to be successful as an affiliate marketer.
Once I decided that I wanted an online business, I looked for something that would generate passive income. Passive income is money that rolls in after the business is set up, without me having to be there for each sale. The website information attracts the customers and generates the sales.
It takes more than just building a great website. You have to know how to climb up the ladder of ranking by the search engines, such as Google, Yahoo!, and Bing. You won’t, and I won’t, reach many customers if nobody sees our websites. If they’re listed on page 7 or 8 of the listings, chances are that they won’t be seen by anyone. The key is to be found on the first page, and even better, at the top of the first page.
There are literally millions of websites on the internet. The majority never get any visitors, because their owners don’t know how to make them visible.
Wealthy Affiliate taught me how to get my website ranked high in the search engines. Wealthy Affiliate can teach you too. And, as a nice bonus, the first 10 lessons are FREE! You can sign up for free, and get two websites up and running, plus the first 10 lessons in the starter package, all for FREE.
I wrote a review of Wealthy Affiliate. You can read that review here.
Are you tired of the 9 to 5 grind? Are looking to start your own business? Then you need to start today. Success doesn’t come overnight. It takes time to build any business, including an online business. Don’t waste another minute. Sign up for your free Wealthy Affiliate account now!
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