It has often been said that knowlege is power,but the fact is that only applied knowledge is power. Only knowledge that can be
utilized to bring about a benefit that someone will pay for is power in today's economy. The first step towards knowledge is
awareness of areas of ignorance. The more knowledge a person gets,the more he realize what area he is ignorant in. A person who
thinks he knows everything has the most to learn. The bigger problem is the illusion of knowledge,bcause when you think you
know something,but don't,your decision making will be flawed. There are enormous number of knowledge thought in the universities
that are absolutely true,but totally useless in the real world,because they can not be translated in to a value that some one
will pay for. The U.S Department of labour released the static on the value of education.
The research found that a person who complete high school would earn about $600,000 over the course of his or her working life time. But a person with two years community college degree will earn about $1,000,000 in his or life time. This works out to an additional $400,000 more of life time income for each additonal year of study. This is about $5,000 more a year. A university graduate with a four year diploma will earn about $1,400,000 on average,over the course of his or her life time. A person with a master degree,equals to approximately five or six years of college education,will earn about $2,000,000 in his or her life time. A person with a ph.D which requires two or four additional years,will earn an average of $3,000,000. Every additional year of schooling after high school will increase your annual income from 8 percent to 25 percent per year,depending upon the relevance of the courses that you take. As the knowledge you acquire increase,the money you make increases at the same time.
The fact is that ,your success will be in direct proportion to the quality and quantity of ideas that you can generate to improve your current circumstances. Ideas are the keys to the future,ideas are the primary source of value today,ideas are the cream of knowledge rising to the top. What you don't know can hurt you and hold you back.This is why successful people are always searching for new information and ideas. You may have to be exposed to 100 ideas before you discover the one idea that you need at that moment to make a major difference in your life and work. You increase your luck and put the odds of success in your favour,by continually seeking and gathering as many ideas as you can. Every improvement in your life comes as a result of your mind colliding with a new idea. Your aim must be to increase the probabilities that you will bump in to the right idea or insight at the right time for you.
By buying it,we pay full price in terms of time and treasure. But by borrowing it,we get it from others who has already paid full price to learn it. Our ability to learn and apply new ideas faster than our competitors is our only real resource of sustainable competitive advantage. Tolerance and an open mind are practical necessities for the dreamers of today. Those who are afraid of new ideas are doomed before they start.