Quote of the day is credited to Benjamin Franklin, one of the world's greatest minds.
QUOTE:
"Investment in knowledge pays the best interest."
MORAL:
The online Dictionary defines knowledge as 'facts, information and skills that are acquired by experience or education', and also 'the awareness or familiarity gained by experience of a fact or situation'. Knowledge is a key word in which something becomes known to you either by doing, seeing, hearing, touching or smelling, in other words, we can boldly say that knowledge is the act of knowing. Education itself is part of acquiring knowledge of a particular subject or area of study.
Investment on the other hand is the act of putting more effort, time, resources into something in anticipation of getting better results or rewards from it. Investment is not all about putting money into a place for it to double within a particular set period of time but rather it goes beyond that and includes putting time, dedication and all other factors needed to ensure one has a better reward at the end of the day.
Although there are different and various types of investment which those that studied finance and accounting are aware of, the most preferred investment of all is that of acquiring more knowledge and expertise in a particular field or area of specialization because there is a saying that 'what you already know sticks with you for as long as you live'. In as much as you invest in a business or put in more effort in your daily job, what really matters the most is the experience you get from doing that job or business and not necessarily the job or the business. It is believed that one of the reason most start up entrepreneurs fail today in less than five years of startup is because they lack sufficient knowledge about the business they are into and so give up on the business when things becomes very tough whereas if you should look closely at businesses that survive for over ten years and are still doing well till today, you will discover that one of the difference between the two is having adequate knowledge about the business and continual investment in more knowledge and expertise in the business.
If you think starting and growing a business is just all about making money, then you should have a rethink because the basic truth is that without sound and proper knowledge you would not go far in business. If you must survive and grow in business, then you must be willing to invest in training your self more often, seeking advice from experts in that field and successful individuals in that area you want to pursue. Do not get me wrong when I say that money is not the most important item on the list in starting and growing a business, money to some extent is but like the saying 'money without brains is dead' so it is if you should have all the money in the world to invest but lack the brain and expertise to make efficient and good use of the money you have into growing an investment to a point of double returns.
Take a very close look at some very successful entrepreneurs and investors of today, likes of Warren Buffett, Bill Gates, Aliko Dangote, Carlos Slim Helu, Amancio Ortega and others, you will notice that these men are have gained so much experience and expertise in their businesses that it will be very difficult for you to outsmart them in the game they know how to play so well. If Microsoft for example should fold up (though not planning to any moment from now), with the knowledge that Bill Gates have in the Software Business, he can still grow a company from scratch to become a leading company because he knows the in and out of the business, something that an ordinary startup does not know about. Carlos Slim Helu, the richest Mexican and one of the richest individual in the world may decide to close his telecom company and decide to build another in less than five years and still become one of the richest men in the world. Aliko Dangote, the founder of Dangote Group Plc and remarkably the richest black individual in the world may decide to give up all he has to charity, with just the knowledge he has in his business he can grow a company from bottom level and still emerge one of the richest in the world also. Same goes to other successful business owners and top executives.
I love this saying, 'no knowledge is ever lost', whether you are a student, a banker, an engineer, medical doctor, scientist or what have you, the best way to succeed in life is to invest your time, effort and resources in acquiring knowledge. As a nation, knowledge is key to development and Gross Domestic Product (GDP) growth, one of the greatest problem of some leaders of today is lack of adequate knowledge about a country, the people that makes up the country and those of other countries and that is why under the nose of citizens, some money is being stolen and taken abroad when such money should have been invested properly to provide jobs and sustainable development for others in the country they are leaders in. Take a look at developed nations like the United States of America, one of the reason they do well than most other countries is that they invest more in carrying out scientific researches and developing new products and services thereby gaining more massive knowledge than most nations of the world. Countries like China and Japan are still following the trend of conducting scientific research in various areas and with that they export different types of products to other countries who do not want to pass through the pains of carrying out such researches, at the end of the day their economy continues to dwindle while the economy of those countries and carry out these researches and develop new products and services continues to boom at the end of the day.
A million words more will never be enough in emphasizing the relevance of seeking knowledge and investing massively in it but one question I would like to ask you reading this is that, has there been a time since you were born when someone became successful in life without first investing in knowledge? If so, I will gladly bet with you that person is bound to fail and lose what he has any moment from now if he fails to invest in knowing and seeking more expertise in his business or working place.
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