Photo edited by Heinz Alvarez

Xcelerate Business on LinkedIn

It has been almost 300 years since Benjamin Franklin wrote this quote, but it still holds true today.

The greatest investment you could ever make is by investing in yourself.

While many are concerned about inflation and the variables of the economy we still have the ability to invest in one of the most dynamic and important resources that exist. Ourselves. Don’t just get knowledge. Apply that knowledge. Acquiring knowledge and implementing it to one’s own circumstances is the best way to achieve success.

I have read that investing in one’s own education and training pays a 30:1 return on investment ratio. If we’re going to invest in anything, investing in knowledge is a smart move…

Knowledge is the most valuable asset we can invest in.

Investing in knowledge means expanding and developing our skillset. It will help us make better decisions.

Knowledge is an asset that never goes out of style. It doesn’t go down in value when stocks fall, so if you invest in knowledge, you won’t be losing any money.

Investing in yourself means gaining wisdom, experience, and giving you the ability to make informed decisions. Warren Buffet also agrees with the perspective on the importance of education.  He says “You are your own biggest asset”.He shares passionately and clearly about that in this classic Warren Buffet video clip.

Why don’t some people invest in knowledge?

One of the reasons why people don’t see the value of improving themselves is because they don’t foresee the benefits of doing so. Those folks take a very short term angle and don’t gain traction long-term.

Investing in yourself is not just about having more money. It also helps one ensure you are leveraging your time wisely as you create present and  future opportunities.

Knowledge

Knowledge is an investment.

 

An investment is defined as “an outlay of funds with the expectation of receiving financial gain”. In other words, it is a commitment of capital with the hope of earning more than what was originally put into it.

Investing in your education can help you earn more, and the price someone would be willing to pay for your services, and your skills. You can learn new skills  that can make you effective in speaking to potential ideal clients for example. That’s a powerful set of skills and knowledge base to build from.

Knowledge is power. An investment in knowledge pays off. Profit or material results may be found in several different ways:

  • Improved decision making
  • Better understanding of key topics that can grow your business, revenue and/or income
  • Acquiring a new skill or business angle that can generate revenue

Knowledge is important.

 

Knowing things helps you become smarter, and makes you able to think critically. It can help you develop your critical thinking skills, which can have a huge impact on your life.

Better decision making enables us to choose not only our best investments but also our best life paths. To do so we must always learn and improve ourselves.

Success depends upon one’s own personal definition; however, without knowledge, we cannot achieve any form of success. It has a ripple effect throughout every aspect of our lives, so it’s important to learn as much as we can.

Learning helps you become better at conversing with others for certain. Having more education correlates with reporting higher life satisfaction in a study from a Social Indicators Research article . It does make sense that these things  make you feel happier and more satisfied with yourself. 

Conclusion

 

Finally, an investment into knowledge is extremely important for your business. This is true across any industry. Due to the fast paced nature of any business, having the knowledge to make the best decision at the right time, is critical to success. Making the wrong choice at the wrong time can be disastrous for your company. Knowledge is power!

For things to change, you need to change. To improve, you need to improve.

There is someone else who has achieved success despite living in the same circumstances and having access to the same opportunities as you but who is still doing better than you.

An investment in knowledge will likely lead to deeper understandings of customer needs, costs, taxes, and employer responsibilities.

An investment in knowledge will improve your decision-making skills and help you anticipate future events or be more prepared for the ever changing landscape of business.