Calculate Return on Knowledge (ROK)
ROI means Return on Investment. In business and in investment, return on investment is calculated, no matter how profit big or small, your return must be justified your investment. ROI is a real measure of your return.
When ever I invest in stock, I will not look for how much profit I am making, I will focus on my return based on my invested capital.
You must understand the risk associated with your return. If you are playing for profit you are not best in the field, but if you gain maximum return on your investment with little or no risk you are genius.
You surprise why I am telling you?
ROI is best for business and investment, like wise a new concept called ROK i.e. Return on Knowledge is important in real life.
ROK is a real measure to calculate your personal return, why I mention personal return, because your life is much more precious than only money, your satisfaction, your promotion, your relationship, your emotions, your working, your kids, your love, your family, your parents are important than money.
In ancient age, who has muscle power, he was the king or troop leader, after lot of years the economy is booming, people know the power of currency that time the money is the power, but now a day’s who has knowledge, and he knows how to apply it, and maximize the real return, those are the people having real power.
It’s continues process muscle power shifted to money power, money power shifted to knowledge power, the shifting is continues process.
Knowledge is Asset
Knowledge is an asset, and you can make big profit on your asset, if you know how to use it? How to apply it? If you are investing in your knowledge, then you are doing great job, nobody in the universe can tax it. You can make huge return on your knowledge, if you can continually invest in your knowledge. You must take maximum advantage of knowledge.
How to Invest in Knowledge Asset:
Reading great book is the major source of investing in knowledge. You can never imagine how much return you can make by reading? Read great book every day, give one hour of day towards reading, no matter how busy you are?
2. Associated with people
Create your association with a knowledgeable people. Become a friend of people, Who have more knowledge than you?
Attend one great seminar every year, which is related to your field.
You and your knowledge shape the success of your life. So, using and applying your knowledge are among your first priority. The ways in which you use your knowledge for yourself determine your personal growth and personal development.
ROK is tool, you can apply in each area of life, and it might be you can apply it on building great relationship with anybody; you can apply it on your personal development, financial development, you can use it as employer perspective.
The ROI is calculated by following formula:
ROI = (benefits – Investment)/investment*100
ROK = (Benefits-Investment)/Investment*100
Benefits = Relationship, Money, promotion, family, parents, kids, satisfaction, work place
Investment = Time Investment, Reading, Writing, Master mind group, Books, Money, self-discipline,
For example if I am calculation return on my writing
ROK (Writing) = (Benefits-Investment)/Investment*100
Benefits from writing = I am becoming better every day, I am remembering a lot, it reminds me about my dreams, my writing helps a lot of people
Investment = my precious time, I have to read lot of books, money in book buying,
What I get in return = I have increase knowledge, build relation with people from different country, satisfaction, I am living my passion and last the intangible benefits I am getting professionally. My behavior changes,
The best method you can calculate your ROK is, what you as a person last year? Has some gain in this year, in the different areas of your life.
On which area you want to improve your self, you must apply this tool, and become what you want in life.
Another way to measure the value of knowledge you have, is to evaluate what it would cost to purchase the same knowledge from the outside.
Remember the quote:
“An investment in knowledge pays the best interest” Benjamin Franklin
To Your Knowledge,
Harish S. Kawalkar
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