What do you have specialized knowledge, personal experience, observations, or all three? Specialized knowledge, personal experience, and observations are the fourth step to becoming wealthy. There are two kinds of knowledge: general and specialized. General knowledge will not make you any money, no matter how great in quantity or variety it is. Colleges and universities are known to use general knowledge.
General knowledge will not attract money, specialized knowledge will. Specialized knowledge is organized and intelligently directed through practical plans of action to the definite end of accumulation of money. Knowledge is only potential power; knowledge becomes power when it is organized into definite plans of action, and directed to a definite end. The missing link in our education system is the failure to teach students how to organize and use knowledge after they acquire it.
Specialized knowledge of service, merchandise, or profession will help you turn your desire into money which you intend to offer in return for a fortune. The accumulation of great fortunes calls for power, and power is acquired through highly organized and intelligently directed specialized knowledge, but specialized knowledge does not have to be in the possession of the man who accumulates the fortune.
Specialized knowledge is the most plentiful, and cheapest of service in the world. It pays to know how to purchase knowledge. General knowledge has no value except that which can be gained from its application toward some worthy end. This is one reason why college degrees are not valued highly because they represent nothing but miscellaneous knowledge.
Successful men never stop acquiring specialized knowledge related to the major purpose, business, or profession. People who are not successful in what they do usually make the mistake of believing that learning/knowledge acquiring period stops when we finish school. The truth is that school does but little more than to pit one in the way of learning how to acquire practical knowledge.
Anything acquired without effort, and without cost is generally unappreciated, often discredited; maybe this is way we often get so little from our marvelous opportunity in public school. Public school education is great but it does not give us the tool we need to go into business for ourselves. The beginning of a successful business is the process of an idea.
Use your imagination, and seek more profitable outlet for your personal services.
There is no fixed price for sound ideas; all ideas are specialized knowledge. When you have the capability that means imagination, which one quality need to combine specialized knowledge with ideas in form of organized plans designed to yield riches.