DIFFERENCE BETWEEN INFORMATION AND KNOWLEDGE FREE OR NOT?

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In business, everyone keeps confusing information with knowledge. They’re different. Even the dictionary says so:

Information: Facts provided or learned about something or someone.

Knowledge: Information and skills acquired through experience or education; the theoretical or practical understanding of a subject.

Information is ones and zeros. It’s raw data, or a list of facts. It’s instructions on filling out a business license, or the instructions Google, Bing other platforms provide you with. The obvious stuff. You can often acquire information for free: 

Knowledge is something else entirely. It’s what you get when you combine information with analysis and experience. Knowledge is information distilled down to actions. It can and should cost you money, or time, or something else. 

You must pay for knowledge in money or effort. If you don’t understand this, you’re going to fail.Information can only take you so far.

Why don’t we understand?

It seems simple. So why don’t we get it? Did we all fall on our heads as children? Eat too much sugar? Listen to too many motivational speakers? What?

some tried to do my own bookkeeping, taxes on their own. All because of software's made easy. But those programs are just information in pretty wrappers. ''WHY DON'T YOU HIRE AN EXPERT.”  And narrowly miss bankrupting your company after just a year.

And, of course, there are all the people who refuse to hire a decent copywriter or marketer. That’s stupid, they say, I’m not paying lots of money for three product descriptions! Outrageous! I’ll just write it myself. And they do. Then they wonder why they don’t sell anything.

I know why: Information doesn’t sell. Knowledge does.

What the heck is going on here?

Everyone’s got it backwards!!!

Companies invest millions in information. They use huge databases, intranets and ‘knowledge’ sharing systems to put lots of facts at everyone’s fingertips.

But these companies still step on their respective naughty bits: They publish incorrect prices, make marketing blunders. And their information management tools faithfully record each nail in the company coffin.

Why? Because information systems maintain data. They don’t do anything with it. Putting information in front of programmers, marketers or machinists isn’t the same as giving them the knowledge to *use it*.

Companies succeed because of knowledge.

Microsoft has access to the exact same information as Apple: Market research, development skills, you name it. Yet with Steve Jobs at the helm Apple left Microsoft behind. Jobs knew how to use the information and then get beyond it. Once beyond it, his team could create truly inspired stuff based on their knowledge of design. Microsoft? They do a really good job of ensuring everyone fills out their TPS reports.

Knowledge wins. Information maintains. But companies blow millions on the latter while ignoring the former. What the hell is going on here?

Knowledge makes you unique
If you build a business using information (which is, after all, free), you’re just part of the herd. Everyone around you is doing the same thing: They all visited the same web sites. They all invited consultants to dinner to ‘pick their brains’. They all assume that having a list of undigested facts entitles them to success. So they all join an army of zombiepreneurs. And they all walk into the same wood-chipper.Just sayin'

Instead, make yourself unique. Acquire real knowledge:

• Learn (God forbid) more than memorized facts. Whatever the business task, make sure you truly understand it and the implications of your actions. If you don’t have the time, maybe it’s not that important. Or

• Hire people who already have the knowledge you need. You can’t know everything. Build a great team. Then you won’t have to.

The greatest companies are great because of their knowledge: Apple’s design. Zappos’ customer service. FedEx’s efficiency.

What’s going to make you great?

Knowledge, people. Acquire it. Protect it. Invest in it.

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