THE KNOWLEDGE TRAP

It all started in 2018

It all started in 2018 when I made a ruthless commitment to change my financial status. 

I was tired and fed up with my bank account always having a close resemblance with a student’s CGPA. (If you get what I mean)

I made up my mind, and my resolve was simple and straightforward.

My results were proof that something was lacking.

I said to myself ‘If the people who have succeeded financially have written books, then I was going to hunt and lay my hands on every single thing I could find about finances’.

I committed myself to study 100 books on finances in a year.

Like a famished lion, I began to devour voraciously any financial material I could lay my hand on. I was reading and applying everything I read.

Just like magic, I began to see my results changing, the pendulum was slowly tilting, more zeros in my bank account. And just like that, I hit my 1st million at the age of 18.

Before long, my newfound financial knowledge was the talk of the town, and I found myself speaking at conferences, appearing on Talk shows and podcasts, and even being recognized on social media as a financial guru. Endless calls of requests for financial advice always trolled my phone on a daily basis.

I started subtly noticing something, the results I was getting seemed to be slipping away, and I couldn't shake the nagging feeling that something was wrong.

‘You can’t expect to win every time I consoled myself’, this too shall pass I said. However, the decline became too consistent, and I decided to ‘stop and check’.

Every successful person must have their own version of ‘stop and check’ seasons. I call it the ‘season of introspection’.

Just like a rolling fan which has been turned off, it would still keep spinning, however upon careful observation,  you’ll notice a speed decline up until it gets to a final halt.

Personal retreat sessions will help you detect when issues early enough before they escalate into disasters. 

In my ‘stop and check season’, I realized something, the structures responsible for the results were collapsing. I was always studying to stay updated in the knowledge game so that I’ll be able to deliver quality speeches at events, however, I wasn’t applying these principles personally.

I began to expect the results that come from the application of knowledge, to come simply from the acquisition of it. What I did not realize was that I was falling into what I call ‘The knowledge trap: A state where you’re EVER LEARNING, but NEVER DOING’. I had become so obsessed with acquiring knowledge that I had forgotten to apply it. 

This realisation was a turning point for me. 

I took a three-month break to reflect on my journey so far and to take stock of my knowledge acquisition rate versus my knowledge application rate.

The results were shocking!

I made a decision that many people will not agree with, I reduced the number of books I read yearly, and increased the application of what I learnt,  I then realized that ‘sometimes, we don’t need more things, we simply need more of the same thing’.

Consistency in the application of the ‘present knowledge’ is what we need most times.

Fast-forward to the end of my introspection season, I started taking real, tangible steps towards my financial goals, and as I did, the results started pouring in once again.

Through this experience, 

I learned a valuable lesson:

“The man who reads 1 book and takes 100 steps will always beat the man who reads 100 books and fails to take the 1st step”

The real gold is in the application, not the acquisition.

Contrary to the question ‘How many books have you read this year’, I dare ask you ‘what have you done with what you have read thus far?’

(Don’t forget to leave a comment, share a screenshot, share on your status, and tag me on Instagram here (instagram.com/boluokunade)

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P.S:
Did you read where I said I read 100 books on finance
Did you read where I said I hit my 1st million at age 18?
Did you learn a vital lesson from this newsletter?

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Okunade Boluwaduro
Grand Commander of the Finance Republic