TAX ACCOUNTANTS AND BUSINESS ADVISORS

  • Home
  • Blog
    • Blog
    • NewsLetter
    • Webinars
  • Solutions
    • Individual
    • Business Accounting
    • Business Planning
    • Cashflow and Profit Improvement
    • LookOver - Second Opinion on Tax
    • LookOver - Business Health Review
    • Hospitality
  • Our Service
  • Team
  • Contact
  • Q & A
  • Home
  • Blog
    • Blog
    • NewsLetter
    • Webinars
  • Solutions
    • Individual
    • Business Accounting
    • Business Planning
    • Cashflow and Profit Improvement
    • LookOver - Second Opinion on Tax
    • LookOver - Business Health Review
    • Hospitality
  • Our Service
  • Team
  • Contact
  • Q & A

Do you know what you don’t know?

9/4/2021

0 Comments

 
Picture
The Knowledge Pie depicts the proportion of what we know, what we know we don’t know, and what we don’t even know we don’t know. What will you do this year to extend your knowledge? Growing your knowledge can #GrowYourBusiness #WeCanHelp
There’s a simple concept called The Knowledge Pie.

This concept segments one’s personal knowledge into three key areas; what we know, what we know that we don’t know, and what we don’t know that we don’t know. You might want to read that again.

An example to better explain: Jane, a young qualified plumber and business owner, knows how to do plumbing. She also knows that she does not know how to do a Tax Return… or orthopedic surgery. However, she doesn’t know that she does not know that if she tightened her Terms of Trade and debtor management policy, she’d get paid faster and improve her cashflow, making her business life less stressful and more successful.

No-one knows what they don’t know.

Many people think this ‘cluelessness’ is a lack of experience thing that affects young people… but everyone, even experts, are completely unaware of what they don’t know that they don’t know.

Imagine the average pie for any person… it could be lemon meringue or steak and cheese – you choose. Now, cut your pie in half and cut one half in half again (creating two quarters). One quarter represents what you know, one quarter represents what you know you don’t know, and the half represents what you don’t even know that you don’t know.

How do I learn about what I don’t know even know that I don’t know?

Some ways to grow your knowledge this year:
  1. Join a new network.
  2. Do some volunteer work.
  3. Get a mentor or coach.
  4. Coach or mentor someone else!
  5. Collaborate with someone that brings different skills and knowledge to the party.
  6. Learn a new skill - it could be pottery, coding, or the ancient art of tai chi.
  7. Visit a new place, town, or country; immerse yourself in the history, culture, and language.
  8. Subscribe to a new magazine, publication or podcast.
  9. Read books on different subjects.

Growing your knowledge can grow your business.

The fact is that for all of us there is much more that we don’t even know we don’t know than what we actually know. Breathe. It’s ok.
Next fact: we will be more successful in life and business if we remain open to new learning, and learning extensions and distinctions on what we already know.

Avoid having an ‘I know’ mentality about the things you do know about.

Some people close their minds when hearing about a topic they have knowledge of. They may assume that they know it all. But we can always know more... and if we shut ourselves down to new learning, we could miss an important distinction that could make a big difference.
​
Get in touch if you’re interested in how we can help you extend yourself this year.
“Those who keep learning, will keep rising in life.” - Charles Munger
0 Comments



Leave a Reply.

    Archives

    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020

    Categories

    All
    Financial Awareness
    General
    Management & Strategy
    Payroll
    Sales & Marketing
    Superannuation
    Tax / Compliance
    Technical


      Learn More

      Get monthly updates with
      ​the latest news and insights. 
    Subscribe
Call: 1300 273 900 today and speak with one of our friendly Accountants.
Book a Meeting
Picture
Brew Accounting is a CPA practice.
Picture
Registered Tax Agent
Picture
Chartered Tax Advisor

​copyright(c) 2023 Brew Accounting