The phrase "Knowledge is power" is often quoted, but generally said with negative connotations, and understandably if used in the wrong way. Albert Einstein famously quoted, "Knowledge is limiting, but imaginations encompass the universe, very true, but try and convince an accountant of this. Lastly, a close business colleague of mine quoted in a completely different context that I had not heard before; "Knowledge is an asset" but only if invested properly.

So what if we were to invest Knowledge (The Intangible Asset, intellectual property), would it deliver a return? Of course it would, after all are not all businesses built on knowledge, we seek expert advice, coaching, financial planning, IT; all based and developed on the same foundation. So knowledge is the way to success, but remembering that success is measured in more ways than material gain. What value in property, shares and cash at the expense of reputation and credibility, we all wish to be treated with respect and kindness, so wealth creation is best developed on an equal foundation of sound moral principles. Now our foundation for growth is knowledge based, but underpinned by principles.

You can sew seeds in the desert but without water there is no growth. In this context, Albert Einstein drew a conclusion of the immense power of imagination, which is not limited by gravitation. What comes first, knowledge or imagination? just Look around you, everything in view is the subject of an idea (imagination) and from a simple concept knowledge is gradually developed. Then continuous improvement naturally underpins a pathway to perfection. The Japanese culture throughout history is steeped in the CI philosophy, which they refer to as Kaizen.

They took the best the West had to offer in production line techniques and within a matter of decades rewrote the book, and when it came to mechanical engineering have outstripped German technology. Not bad for a country that decided to adopt a western style culture in the early 20th century. This was a conscious and totally united decision, a fifty year plan; our long term strategies are usually pitched between three to five years. So knowledge and imagination grow simultaneously and are enhance by improvement it’s self perpetuating.

They used imagination to increase their knowledge base of production line techniques that had not changed in essence sine the days of the model T Ford.

My late father possessed much wisdom, when I was a child, moving through my teens to adulthood he advised me thus on many occasions, "The best way to gain knowledge is through travel and integration with other cultures" he would go on to say, "The only way to gain wisdom is through personal experience" Now is wisdom knowledge based? Is it a result of trial and error? Or gained through the practice of self observation, being more aware of our own actions and reactions, and, through practice and discipline learn to react less to others actions, situations and the environment. Is not wisdom the continual practice of good habits?

If you have a million dollars sitting in the bank but not gaining interest, would you consider this an investment, or capital stagnation? Similarly knowledge does not accrue interest unless it is invested properly and to good cause for mankind.

So let’s put knowledge, imagination, principles and continuous improvement together and see how the load is spread.

Now do habits come out of knowledge? And through the abandonment of bad habits in favour of developing good habits do we develop a more positive base of knowledge? knowing that we are doing good for ourselves and good for others. So the knowledge of this fact is an investment, because what goes around comes around, giving is receiving, so eventually you get a return on your investment in knowledge, it goes to your credit and accrues interest.

In fact everything we do is knowledge based; intangible, valuable, but limits us to the confines of its particular subject matter, imagination has no limitations and is the first creation, and knowledge is the second.