Sunday, March 19, 2006

Our Merged Knowledge and Idea Economy

Our Merged Knowledge and Idea Economy

Hi! Way back in 1959, the late, great Peter Drucker coined the term 'knowledge worker'.

Now, 47 years later, we're perhaps only ankle-deep in the shallows of the expansive ocean that is the Knowledge Economy. But even though we're just beginning to understand the awesome promise of this new age of mankind, some clear trends are emerging.

For instance, we can tell that true knowledge workers - those gold-collar professionals who are as far beyond white-collar workers as those are from their blue-collar cousins - will increasingly dominate the world of wealth.

It is not an accident that Bill Gates has been the richest man on the planet for about a dozen years now. He controls the company that allows most of us to operate within the Knowledge Economy.

Another trend I see is that there is actually an expression of the human mind that is even more potent than mere knowledge. I'm talking about the power of one idea - the right idea.

Yes, I know there are plenty of lame-brain ideas around, but we still live in a unique point of time that rewards high-octane ideas that are successfully meshed with knowledge. Let me tell you of one fabulous example:

A 21-year-old Brit named Alex Tew, just raised $1 million from selling ads on one, single, solitary, unitary page of his site!

His pricing model: $1 a pixel, with a minimum $100 buy in!

I urge you to read this excerpt:

BBC NEWS Magazine The million-dollar student: "The million-dollar student
By Tom Geoghegan
BBC News Magazine

It took a 21-year-old a few minutes to come up with an idea which has made him more than one million dollars in four months. So what's his secret?

It started with a blank notepad, an overdraft and a shortage of socks. Now it's a million-dollar business.

Last August, as a three-year degree loomed, Alex Tew lay on his bed in his family home in Cricklade, Wiltshire. It was time for his nightly brainstorming session. This time, the problem was his finances. He already had an overdraft, which was sure to multiply at university, and he felt his poverty was reflected by..."

If you want to know how his socks come into the picture, read the entire story and also check out Alex's blog.

The point of this posting is to illustrate that those motivational airheads who believe money is available in superabundance are sometimes right!

And as tough as it sometimes is for most of us to make ends meet, to raise capital, and to earn profits, it isn't usually impossible. We just need to have faith in the awesome stores of creativity God's given us. It's useful to never forget that according to the Certified Financial Planner Board of Standards: "Financial planning as the process of meeting your life goals through the proper management of your finances."

Imagine the goals we should be daring to dream because we are fortunate enough to have been placed at this amazing point in history that rewards a unique combination of Knowledge and Ideas.

I don't know about you, but I'm going to grab a blank notepad and spend some serious time thinking on paper... Here's to an idea-filled day.

Warmest regards,


Rajen Devadason is CEO of RD Book Projects and its sister company RD WealthCreation Sdn Bhd. He lives in sunny, peaceful Malaysia with his gorgeous wife Rachel. He's a Malaysian Securities Commission-licensed financial planner, a life planning consultant, a professional speaker and a serial author... which probably explains why he's so exhausted! Some of his books are available here.


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