Thursday, June 29, 2006

The knowledge you have X the knowledge they need

Imagine that all the information and knowledge that you have is a circle. Now imagine that the information and knowledge that they (your clients, employers, etc.) need is another circle.

These two circles overlap. The overlap area is the amount of money that you CAN make.

In reality, you will always make much less than that amount, because:
  1. You don't know precisely WHAT you know (i.e. your knowledge is not explicitly documented in the form of a book or a blog)
  2. You don't know (or cannot connect with) all the potential clients or employers who could use your knowledge
As you gather more information on WHAT YOU KNOW EXACTLY and WHO EXACTLY NEEDS TO KNOW WHAT YOU KNOW, then you will make more money.

In terms of your professional knowledge (which is what employers and clients pay you for), you either:
  1. have valuable knowledge and can use it effectively, but cannot teach it
  2. have valuable knowledge and can use it effectively, can teach it, but cannot capture it in words (book, blog, etc.)
  3. have valuable knowledge and can use it effectively, can teach it and can write it down (for distribution to millions of people)
The #3 people are the multimillionaires such as marketing guru Jay Abraham, personal development super-guru Anthony Robbins, motivational speaker/author Brian Tracy, spiritual author/speaker Wayne Dyer, financial success author Robert Kiyosaki, etc.

What all these highly successful multimillionaires have in common is that they belong to group #3. That is, they:
  1. master knowledge PERSONALLY and can use it effectively to solve problems (professionalism)
  2. can share knowledge effectively with others in a GROUP SETTING (teaching)
  3. can share knowledge efficiently via the MASS MEDIA (books, videos, audiotapes, etc.)