I try to read the fifth chapter of Think And Grow Rich by Napoleon Hill. This chapter is titled, “Specialized Knowledge: Personal experience or observations.” It is perhaps the most relevant chapter to the world we live in today.

There are two types of knowledge. Knowledge that we acquire through observations, which are based in fact, either right or wrong. This is generalized knowledge. The other type of knowledge is one you receive through experiences. No one can teach you this, not a teacher, a book or a course. It is something you have to teach yourself. This is specialized knowledge.

We should look to build specialized knowledge. This process can be started through organization of knowledge into value. Then products or services can be built to channel this value to people who will pay to acquire them.

Learning is essential to build this knowledge. But to never stop learning we should have undying ambition. Learning does not end with college, it is a lifelong process. Those who stop learning once they get a salaried job will never be rich.

Build your knowledge, never stop learning, have undying ambition, do something no one else is doing or do it better than anyone else. These are the key takeaways from this chapter.

Hope this helps.

Link to the book:

https://amzn.to/3A0rj3r

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Aakash

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#investing #personalfinance