Honestly if I was stopped in the street and asked what is the difference between knowledge and wisdom, I would be stumped for a few moments. I think my answer would be;
Knowledge is based on things you have learned, either through instruction, experience, reading a book, or observation of others.
Wisdom is knowing how to live your life based on the vast amounts of knowledge that has been acquired.
So, I have been looking over some financials recently and I would guestimate that I spend at least $15K a year on learning what not to do. This would be what my poor decisions and mistakes have cost me, not calculating opportunity lost.
Alright, let's put that in perspective. A good formal education would cost at least that much and all you get is instruction. What I received was pain, regret, a few kicks in the ass, and enough deterrent, in some cases, not to make the same mistakes again. I have gained a little bit of wisdom...at a very bargain price.
I have been reflecting on the past 4 years, where I was before I started this company, where I am now and where I want to go. The value of what I have learned over the past 4 years is truly priceless. But the ROI of what it has cost me, both in money, time, and stress, can only be realized if I apply what I have learned to the way I live my life; If I can turn my knowledge into wisdom.
One thing I have learned is the importance of looking past the monetary value of a proposition and looking at the holistic experience of being involved in a project. I have witnessed the constipation of success due to a blockage caused by monetary stress (nice visual huh?)
I have seen people not give their all because they did not feel they were being compensated for the value of their all, and the end result is they harmed their own reputation and were never offered the next prize because no one knew what they were capable of. I have seen people stress about money to the point they are blind to the fact that the opportunity in front of them is the experience that will enhance or expand their skill set and make them that much more valuable.
I am amazed that people are willing to pay private schools and universities an enormous amount of money for knowledge, but will not take risks and push themselves to gain the experiences that will lead to wisdom.