The Fourth Step towards Riches

  • 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 but 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 the 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.

Example- Many people make the mistake of assuming that because Henry Ford had but little "schooling," he was not a man of "education." Those who make this mistake do not understand the real meaning of the word "educate." Thi word is derived from the Latin word "educo," meaning to educe, to draw out, to develop from within.

  • An educated man is not, necessarily, one who has an abundance of general or specialized knowledge. An educated man is one who has so developed the faculties of his mind that he may acquire anything he wants, or its equivalent, without violating the rights of others.

  • 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. Example- Through the assistance of his "Master Mind" group, Henry Ford had at his command all the specialized knowledge he needed to enable him to become one of the wealthiest men in America. It was not essential that he have this knowledge in his own mind.

  • The accumulation of great fortunes calls for power and power is acquired through highly organized and intelligently directed specialized knowledge, but that knowledge does not, necessarily, have to be in the possession of the man who accumulates the fortune.

Example- Thomas Edison had only three months of "schooling" during his entire life. He did not lack education, neither did he die poor.

  • First of all, decide the sort of specialized knowledge you require, and the purpose for which it is needed. To a large extent your major purpose in life, the goal toward which you are working, will help determine what knowledge you need. With this question settled, your next move requires that you have accurate information concerning dependable sources of knowledge. The more important of these are:

  1. One's own experience and education.

  2. Experience and education available through the cooperation of others(Master Mind Alliance)

  3. Colleges and Universities

  4. Public libraries(through books and periodicals)

  5. Special training courses

  • Successful men, in all callings, never stop acquiring specialized knowledge related to their major purpose, business, or profession. Those who are not successful usually make the mistake of believing that the knowledge acquiring period ends when one finishes school.

  • There is one weakness in people for which there is no remedy. It is the universal lack of ambition! Persons, especially salaried people who schedule their spare time for home study, seldom remain at the bottom very long. Their actions open the way for the upward climb, removes many obstacles from their path, and gains the friendly interest of those who have the power to put them in the way of opportunity.

  • Capability means imagination, the one quality needed to combine specialised knowledge with ideas, in the form of organized plans designed to yield riches.

  • There is no fixed price for sound ideas & back of all practical ideas is specialised knowledge.

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