If you think having a vague money-making idea makes you an ideal candidate for a career as an entrepreneur, you are wrong. Being an entrepreneur is not about getting rich quick, although many successful entrepreneurs to create a significant financial base for themselves. The fact is that entrepreneurs need to take the idea that ignites their passion and learns about it which can take time.
Learning means developing a deep level of knowledge, as Dr. h. c. Harald Seiz discusses in his book, “ Think BIG – How to Conquer the World with a Great Idea“. In Dr. Seiz’s case, this knowledge surrounds the value of gold as a secure asset and its use in the world of cryptocurrencies. But knowledge can be built up in whichever field your ideas are in.
Why is knowledge so important to entrepreneurs?
Developing an idea is not going to happen if you have no concept of the world in which your idea needs to come to life. When Dr. Seiz first entered the world of financial advice, he knew he had to learn his craft to make a difference. As he says in “Think BIG”,
“I had no idea about the needs of the customer, the work of a consultant or banker or the facts and figures in the financial sector. I first had to acquire all this knowledge.”
Like Dr. Seis, if you want to bring your ideas to bear in a particular area, you need to know what you are talking about. You need to have an understanding of what your particular idea will add to what is already present. Original ideas have some roots in what has gone before them. This cannot happen without an entrepreneur is truly knowledgeable.
The importance of focus
As Dr. Seiz remarks in “Think BIG”,
“While there were once polymaths, who became masters in several fields of study, today it is an illusory undertaking.”
The knowledge base for every aspect of life has expanded greatly and it’s no longer possible for an individual to be aware of minute details for many different topics. This is why aiming for a career as an entrepreneur means you need to specialize. You should choose an area that sparks your creative fires and makes you want to take new paths and be known as an innovator.
This is not to say that you should not be able to be flexible should an idea not to reach fruition as you intended, it simply means that being seen as an expert makes it far more likely that you are able to bring your influence to bear and that you are more likely to be able to change path slightly, should the need arise.
By focusing on gold, and it’s placed in investment and cryptocurrency, Dr. Seiz has become a world-renowned entrepreneur and author who is the founder and CEO of companies with a total turnover of 100 million euros. Reading his book helps entrepreneurs to see how important knowledge and focus is to success.