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Knowledge without taking risks is useless

Started by sajiv, Feb 22, 2010, 09:47 AM

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Knowledge without taking risks is useless

when I was pondering over the gap between the knowledge one acquires and its application in their life enrichment,a fine book I read few years ago titled "The Millionaire Next Door – The Surprising Secrets of America's Wealthy" by Thomas Stanly and William Danko, came to my mind.
Apart from the conventional practices such as earning more and spending less, what took me by surprise in that book are the educational qualifications of rich people. Authors found that it is not the education alone that makes people wealthy but the attitude of application (wisdom) of information (knowledge) ferociously does. They also found that valedictorians (rank holders) normally end up being employees and average students of a class becoming the employers (wealth generators).
Mr. Bill Gates dropped out of Harvard University but still became the world's richest man because he used the knowledge he had and applied it to make products. He had courage to take risks and rest is history.
Rank holders have the advantage of having superior knowledge base but unless such knowledge is applied by taking calculated risks, such knowledge becomes unused resource. You couldn't be living in any better times in India than now where the spirit of entrepreneurism is very high.
What makes the spirit of entrepeneurism grow is by having an 'eye for curiosity'. Keep asking questions as to how things can be done differently, try differently and constantly question the conventional wisdom. Never settle for anything that you're not satisfied with. If Mumbai Dabbawala (tiffin carriers) could strive to achieve 'Six Sigma' certification to identify and remove the defects in their business flow, no enterprise should be allowed to rest till they become the best.
Young graduates and rank holders must expand the horizon of their thinking to become the wealth creators. They must nurture themselves to dream individually and collectively to innovate, invent and discover newer ways of improving the standards of living of people in the field of their choice.
When the opportunity knocks on your door, do not cease to seize it.