Think & Grow Rich Lessons
George Freelen Livingston, TX, US

Posted: 2017-12-19

The Fourth Step toward Riches

Mr. Hill wrote this sometime in the late 1950’s, “the changed economic conditions prevailing since the depression have made it necessary for thousands of people to find additional, or new sources of income.” That reasoning has found it way back into our economic conditions today, however not caused by a depression.  It is caused by the widening gap between wages of workers productivity and income retained by the industrial owners of large companies. Fifty to sixty years ago as the productivity of the worker increased, the income of the worker increased, not so today, the worker is working more hours and receiving less income.

Today many of our younger generation are receiving college degrees and are unable to find higher paying jobs. I have a granddaughter that graduated with a double degree in ‘sports management and accounting practices’. She finally found a job with Nordstrom barely above minimum wage.

This is creating a greater need for what Hill calls SPECIALIZED KNOWLEDGE.  THERE are two kinds of knowledge. One is general, the other is specialized. General knowledge, no matter how great in quantity or variety it may be, is of but little use in the accumulation of money. A degree or knowledge will not attract money, it must be organized and intelligently directed. The student must find some practical plan of action, to a definite end of accumulation of money. Knowledge is only potential power. The graduating student must find some way to organize this knowledge into a definite plan of action.

This can be done by creating a mastermind group, create ideas, and find markets that will enable the individual to earn greater amount of money. There is no fixed priced on sound ideas. Back of all ideas is specialized knowledge. There is a universal demand and an ever-increasing opportunity for the person capable of helping men and women to sell their services advantageously. This is the basics of our industry; masterminding and team work to support other in acquiring specialized knowledge.

 

George Freelen,    San Antonio, Texas