In this motivational monologue, the speaker addresses the pervasive "knowledge gap" that many entrepreneurs and CEOs face. He argues that lacking a basic, general understanding of core business functions—such as accounting, product development, marketing, human resources, and operations—creates dangerous blind spots that can lead to costly mistakes. The speaker emphasizes that while no one can know everything, a baseline level of knowledge is essential to evaluate experts, make informed decisions, and protect the business. He recommends practical ways to close the gap: reading, researching, seeking expert advice, and continuously learning. He also warns against the misconception that one must master every area before taking action, encouraging listeners to act with the knowledge they have while committing to daily self‑development. The talk concludes with a call to apply these insights and a teaser for the next session on the "timing gap," which will explore the pitfalls of waiting for the perfect moment.
Chapters
Hey, my friend. Hey, I believe you are doing so well. Listen, yesterday it was just awesome. So today we will talk about something very, very, very powerful. Powerful. Very, very powerful. You know, most of the time, even though people are in business, they have this problem of knowledge. You know, the knowledge gap. You know, I don't know. How to grow? I don't know how to expand. I don't know how to develop another product. I don't know how to lead, you know, aspect of my business. I don't understand marketing. I don't know how to plan my budget. I don't know. You know what? As a business person and as entrepreneur, you have to have what we call general knowledge. If you don't have a general knowledge, if you don't have a certain certain level of understanding, you know, on how your business function, how your business work, it's going to be very dangerous. Because if you go out there and just pay somebody to do your accounting, for example, and you have no clue, no clue, it's going to be very dangerous. And that's a matter of fact, that's why— that's how so many people lose money. If your accountant is not good and you have no clue how it works, Guess what? This guy could make you sink because you don't know. You don't just know. And that's the same, you know, that's the same in every aspect in your business. So you have to close the knowledge gap. You have to have a general understanding on how you develop your product, the way you go from the startup to the finished product. You have to understand the concept. When it comes to your marketing, you need to understand. When it comes to your human resources, You need to have some level of understanding. And how can you do this? You can read about the subject. You can do more research. You know, as a CEO, that's why you spend time and learn. You want to learn more than anybody else. And you just don't want to create a department in your business or something that you are doing, but you have no idea, no understand how it works. It's just like you give the key of your business to other people and you don't know where they are taking you. Literally. So a businessman must have a general, general, general knowledge in when it comes to business. And not only that, you know, the truth is that you never gonna know everything. So if you want to know, or if you just say, well, I just don't know how to do it, that's not a good excuse. But matter of fact, that's a good motivation to do something about it. Whatever you don't know, you must— you can find an expert in the area, but you must have a level of knowledge, certain level of knowledge. If you have a couple million dollars in the bank and you don't understand how interest rates work, how about if they cheat you on your money? How are you going to know if they are paying you all your dividends or not? That's how it works with your business. Now my question to you, did you understand how you make profit with your business? Do you understand how much you make when you sell a product? Do you have a clear understanding on how your operation functions? You must develop yourself. You must know more. You must learn more, uh, out of that. You know, one of the things that, uh, sometimes people trying to follow it is that either they must know everything before they engage themselves in it, which is so wrong, which is very wrong. Nobody ever know everything. Little— if you know something, that's already enough. Small knowledge is enough. Nobody— you never master everything. So the knowledge gap, when we talk about the knowledge gap, you have to make sure You develop yourself in different, different aspects in your industry. If you export, let's say you export the cell phone, find out if you could, you can find out what company actually, where do they make this? Maybe they make in China. What's the cost? You know, this is just a research on your own. Okay, if you buy 100, what difference is going to make? If you buy 1,000, those give you understanding. And you can't just say, you know what, I don't know. You have to be able to answer most questions, and that's going to come from your level of understanding, your level of knowledge, you know, when it comes to your product, when you come to your service, when it comes to, you know, you may be a counselor, you know, you know, you can, could be a, you know, you, you, your service, you can make money and just offer a counselor. You can even be a teacher. You need to develop a great general understanding when it comes to your product. And you can't wait until you understand everything before you press the trigger. You have to be open. You have to be open to learn. And that's why you have to develop yourself every day. Congratulations, because you're in this school of coaching. You are bringing that broad knowledge. Some of this stuff may not apply in your business, but it prepares you for tomorrow. All right, go ahead and see how you can apply this in your business, in your personal business. And tomorrow we'll talk about something very, very, very important. It's going to be the timing gap. You know, sometimes we just say, hey, it is not the right time to begin, it is not the right time to go to that market, it is not the right time to develop that product. Tomorrow we'll deal with that. Go ahead and take action today. Remember, If you don't take action, you're not going to go from point A to point B. Action, action, action, action. See you tomorrow.
