Mindset Mastery 107 – The Fourth Step

Mindset Mastery eBookToday we begin Chapter 5 of Mindset Mastery, a chapter focusing on specialized knowledge, which brings us to the fourth step toward wealth. In this chapter we learn that there are great differences between knowledge and education and more definitions for those words than what is traditionally held.

Let’s talk about specialized knowledge…

Specialized Knowledge – Personal Experiences Or Observations

There are two kinds of knowledge. One is general, the other is specialized. General knowledge, no matter how excessive or varied, is of little use in the accumulation of wealth. If you combined all the knowledge of all the professors of all the best Universities together, you would have in excess practically every form of general knowledge known to civilization. Most of the professors have little or no money. They specialize in teaching knowledge, but they do not specialize in the organization, or the use of knowledge.

Guiding Knowledge

guidanceKnowledge will not attract money unless it is organized and intelligently directed through practical plans of action, to the definite end of accumulating money. The lack of understanding of this fact has been the source of confusion to millions of people who wrongly believe that “knowledge is power.” It is nothing of the sort! Knowledge is only potential power. It becomes power only when, and if, it is organized into definite plans of action, and directed to a definite end.

What Is Education?

This “missing link” in all of today’s civilized educational systems can be found in the failure of educational institutions to teach their students how to organize and use knowledge after they acquire it.

Many people make the mistake of assuming that, because Henry Ford had very little “schooling,” he is not a man of “education.” In a similar, more modern example, people also incorrectly assume that Microsoft founder Bill Gates is not a man of “education” because he is a college (Harvard) drop-out. Those who make this mistake do not know much about Henry Ford or Bill Gates; nor do they understand the real meaning of the word “educate.”

The word educate word is derived from the Latin word “educo,” meaning to educe, to draw out, to develop from within.

Develop Your Power From Within

Having this knowledge levels the playing field in wealth creation. It shows us that no one is at a disadvantage just because he or she might not have a university degree. That is not what will make you wealthy. If you do have a degree, it might give you a tool to work with, but it is not enough by itself.

What every wealth creator needs to know is how to creatively apply knowledge and develop the mind to a point where it has the ability to focus and persist in building personal prosperity. That is something anyone with a mind can do. Wealth is for the person who sets his or her mind to it—it is not reserved for a few!

Sean Rasmussen
Success Communicator
SeanRasmussen.com © 2004 – 2009

About Sean Rasmussen

Sean Rasmussen is a passionate blogger and has been a full time internet marketer since 2005. When he's not with his family, or dog Buddy, Sean is usually blogging or doing something related to the internet.


  1. that’s a bit spooky….on the weekend i was going over chapter five of “think and grow rich” with a hi-lighter and putting it into my goal book with a summary point form so that I can remember the important aspects of specialiazed knowledge.
    Then this morning i was talking to my husband David Wood….about spending Friday afternoon….sitting down to write a detailed plan (again) of where are heading next with our goals/path to prosperity.
    With out a plan (business plan) then your life is just floating…with a plan then we are heading into a specific direction.
    Thanks Sean for reminding me about how to apply Specialized knowledge and how to apply it the Right Way:)

    lisa woods last blog post..Trading Time

  2. Sean,just a brief note of encouragement to those loyal to your site.I attended your seminar in Brisbane 21/2/2009.How do I remember the date?It was my sons 7th birthday! I had that much faith in your teachings,that I attended your Internet Marketing Bootcamp.Being a complete newbie,I had little idea what was being taught!I only got a mobile phone 18 months ago.Well you said “whatever it takes”.On the 13/5/2009 I launched my own website.Its basic,its raw…but its up…and to anyone out there, it can be done.Thank you for your encouragement. Ray

  3. Jazz Salinger says:

    Hi Sean,

    I love the fact that anyone can be wealthy. It’s simply a matter of directing your mind and educating yourself on the principles you need to learn and apply. It takes discipline.

    I agree that formal education is not a guarantee of wealth and success. The only thing that we can do is to educate ourselves on the principles of wealth creation and be willing to carry them out without reserve.

    • Its funny how these days education is “limited” to our school days for a lot of people. We need the basics that we get at school (reading, writing etc) but we need to make sure that learning never stops – inside and outside of the formal learning process.
      .-= Renee´s last blog ..Motivational Music =-.

  4. Sean – Thanks for the etymology of the word “education”. What a beautiful meaning.
    .-= Lina Nguyen´s last blog ..What life is about =-.

  5. Hi Sean,

    This post suggests that to be setting oneself up for creating wealth one needs first to have a clear mind, to use common sense and have a willingness to develop the power from within…. I feel motivated by that thought.

    Thanks you Sean, this is great information to digest as we are moving along on the learning journey.

  6. University knowledge is very limited and as Hill describes is just an additional tool you get. It depends on if and how you use it. That makes all the difference.

    And I agree – knowledge is only a potential. If I sit on my knowledge, don’t share it and don’t use it – that’s like having the seeds for a plant that can feed the world and not planting it. It’s of no use and has less value compared to a not-so-perfect seed that gets planted and can bear fruit!
    .-= Renee´s last blog ..Motivational Music =-.

    • Hi Renee,

      I’m with you. A lot of people think that knowledge is power; and it is. But, there are those people who have knowledge but refuse to share it. That isn’t powerful.

      We have to do everything we can to gain the knowledge necessary to be successful. Then this knowledge only becomes powerful when we apply it and achieve our goals.
      .-= Jazz Salinger´s last blog ..Finding Your Passion =-.

  7. It’s somewhat discouraging to realize some of the best careers start with a piece of paper – a degree, a certificate, a proper schooling of some sort. And yet this hurdle is just that, an obstacle to overcome if you really want it and one that keeps you from achieving if you don’t.
    .-= Sarah Butland´s last blog ..You Are the Reason I Know It Will Happen =-.

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