Black Entrepreneur Blueprint 642 - Jay Jones - The Power Of Know How Versus Knowledge

[00:00:12] Welcome to Black Entrepreneur Blueprint, the number one podcast and resource for Black entrepreneurs. I'm your host Jay Jones and Black Entrepreneur Blueprint was created specifically to educate and inspire Black entrepreneurs to launch, build and grow successful, sustainable businesses. Join us as we help build an economic power base in the worldwide Black community by building and supporting Black owned businesses.

[00:00:41] If you're currently an entrepreneur or want to be an entrepreneur, you're invited to join us each and every week here at Black Entrepreneur Blueprint. Welcome to the BEB family and get ready to elevate your entrepreneur IQ. Welcome to the Black Entrepreneur Blueprint, episode number 642.

[00:01:08] I'm your host Jay Jones and today we have another outstanding and informative show in store for you. Today's show topic is the power of know-how versus knowledge. The power of know-how versus knowledge. Now many entrepreneurs confuse knowledge for know-how and it's quietly stunting and killing your business growth.

[00:01:32] The phrase paralysis by analysis guys is real and the only way you learn something is by doing it. On today's episode I'm going to give you the seven benefits of know-how for entrepreneurs so make sure that you lock in. Now before we get to today's show content let me just share a few things with the Black Entrepreneur Blueprint family. First and foremost I want to welcome all first-time listeners to Black Entrepreneur Blueprint. Welcome to the BEB family.

[00:02:00] Please stick around until the end of today's broadcast and I'm going to share all my social media contact information and resource links such as the link to the website blackentrepreneurblueprint.com. Guys make sure you check out the website. We have all types of free resources to help you move your business from point A to point B. Also a note we are revamping and revising and overhauling the website and it should be done

[00:02:29] in about a week and it's going to be tremendous. There's going to be an assessment on the website that's going to help you find out what the roadblocks are in your business and give you solutions to actually solve the problems that are holding your business back. So I'm super excited for that. We should have the new site up and running in about seven to ten days and I'll definitely keep you posted on that. Now let's get ready for today's show content.

[00:02:55] Today we're going to talk about the power of know-how versus knowledge. The power of know-how versus knowledge. And if you've listened to this podcast for any period of time you might have heard me use the story I talk about to basically define know-how and knowledge. I'm going to give you the real definitions then I'm going to give you a little example. So the definition of knowledge it's an awareness understanding or information gained through study

[00:03:23] experience or the senses. So this is knowledge. It's an awareness and understanding or information gained through study experience or the senses. That's knowledge. Okay people say knowledge is power. I say know-how is power. Now the definition of know-how it's a practice practical skill. It refers to real world ability rather than just reading or theoretical facts.

[00:03:52] It's action oriented. It's the how-to capability gained through practice and experience. I'm going to read that again. The definition of know-how. Number one it's a practical skill. It refers to real world ability rather than just reading or theoretical facts. It's action oriented. It is the how-to capability gained through practice and experience. Knowledge versus know-how.

[00:04:18] The example that I always use is about the F-16 fighter jet. Right? So I could literally watch all types of documentaries about how to fly an F-16 fighter jet. I can also go and read the manual. I can also be in the back of the cockpit while the pilot flies the F-16 jet. Right? Now I have knowledge of that.

[00:04:42] The question is when they put Jay Jones in that cockpit to fly that F-16 does Jay Jones know how to do it? And the answer is absolutely not. Know-how guys comes from doing. And you have to understand as an entrepreneur that's something that's going to either make you or break you. Okay? Knowing. So knowledge tells you how business works.

[00:05:08] Know-how teaches you how to make your business work. Let me repeat that. Knowledge tells you how your business works. Know-how teaches you how to make your business work. Okay? So it's a big difference. So I'm going to give you guys seven benefits of know-how for entrepreneurs. But I want to start with a quick story. Many years ago, probably about four years ago, three to four years ago,

[00:05:34] I had a cohort where we were building an online product. Right? You are going to build your product. You're going to identify the product, identify the market, and we were going to launch your product. So in this group, it was a mastermind group. And I've told this story a couple of times. But for those of you who haven't heard it, there was this brother, very nice brother. And each week that we met, we had specific things that we had to get done prior to our meeting.

[00:06:03] And everybody, I think it was about eight to ten people in the group, everybody was moving along. But every time we came to this one guy, he kept saying, Yeah, I've been watching these videos. Oh, yeah, I've been reading this information. Oh, yeah, I bought this book to kind of see what I'm doing. And all it was was excuses. Right? And he wasn't doing it on purpose, but it was what we call paralysis by analysis. All he was doing was acquiring knowledge.

[00:06:32] And that knowledge is totally useless unless you can put action behind it. So there's a three of a three word quote that I always talk about. And it's only six letters to be do. To be do to be successful, you have to do something. To be the best entrepreneur, you have to do something. So to be something, you have to do it. It means you have to have action behind it. Okay?

[00:07:02] Knowledge is great. We need that knowledge. And when people say knowledge is power, no. Knowledge is not power. Knowledge gives you information, but power comes from utilizing or putting action behind that knowledge. Know how. Okay? Other people say power is knowledge put to work, not knowledge is power. And that's exactly the same thing I'm saying. I've been saying it different because it takes action.

[00:07:29] So that's what we're going to focus on today, guys. So for example, in today's episode, the seven benefits of know how. I'm going to break down the critical differences between knowledge and know how and why paralysis by analysis keeps so many entrepreneurs stuck. And a lot of times, especially in today's society, we have access to all types of information. And we have information overload.

[00:07:54] And if you don't focus and cut down the information that you consume, you're going to be paralyzed. One guru is going to tell you this. The other guru is going to tell you the exact opposite. So what I've done is I've pared down where I receive information from, and I only take information from credible or reliable sources that I think meet exactly what I'm looking for.

[00:08:19] So if you literally can scroll on Instagram or any social media platform as an entrepreneur, and you're going to get 15 different ways to do this, 15 different ways to do that. This guru is going to tell you this is the best way. The other guru is going to tell you something else. And it can be super confusing, and it literally can paralyze you. So we're going to we're going to alleviate all of that nonsense.

[00:08:44] All right, so cut down the sources that you listen to and only rock with the sources that you feel are credible and that are taking you in the right direction. All right. So I gave you guys the definition of knowledge and know how. Let's talk about the seven benefits of know how for entrepreneurs. Now, they're more than this, but these are the seven top ones that I find that are important. Number one on my list. Know how turns ideas into execution.

[00:09:12] Know how turns ideas into execution. So knowledge tells you what you what should work. Know how helps you actually make it work. Knowledge tells you what should work. Know how helps you actually make it work. All right. Execution, guys. There's only three things that entrepreneurs do. We think, create and execute. Thinking is easy. Those are the ideas. Everybody has an ideas.

[00:09:40] The creation of the product or service or the platform or whatever you're doing is a little bit harder. And the most important and most difficult thing is the execution. So number one, know how turns ideas into execution. Now, I was laughing last night with my wife. We were watching the show and they were talking about ADD. Right. And I'm not laughing at ADD because I think I do have it. Right.

[00:10:08] And many entrepreneurs have ADD because their mind works a little bit differently. So I call it entrepreneur ADD. I see something and I'm thinking, man, how can I turn this into a business? How can I make this profitable? All right. What you know, what could I do differently to build this type of business? So know how turns ideas into execution. So you need to be able to execute. Think, create and execute. That's all an entrepreneur does.

[00:10:38] TCE, think, create and execute. And the hardest one is execution. And know how enables you to execute. Not the knowledge, but the know how. How do I make this come to fruition? How do I execute this plan? All right. That's benefit number one of know how. Benefit number two of know how. Know how helps you make money. All right. We all want to make money. That's why we're in business. Customers don't pay you for what you know.

[00:11:07] They pay you for your ability to solve a problem and produce a desired result. Customers don't pay you for what you know. That's knowledge. They don't pay you for that. They pay you for the ability to solve a problem and produce a desired result. You can have all the knowledge in the world. People don't necessarily pay you for that. Okay. They pay you for your ability to solve one of their problems and produce a desired result.

[00:11:36] So know how helps you make money. All right. You have you ever met somebody that knows a whole lot about a whole lot, but can't get can't get anything right. Can't make any money. That's a person that's full with of knowledge, which is great. But they don't know how to transfer that knowledge into money, into monetization. That's where the know-how comes in. That's number two. And today, guys, we're talking about the power of know-how versus knowledge.

[00:12:05] Benefit number three of know-how. Know-how improves decision making. Know-how improves decision making. Experience, guys, helps you recognize opportunities, avoid distractions, and make better decisions faster. Okay. It improves your decision making. So you have the experience. You have the know-how. So for example, I'm working with one of my friends. We're talking about starting a new business.

[00:12:33] And, you know, even though he has a business he just started, he hasn't been an entrepreneur as long as I have. You know, 25 plus years out here getting it, right? Good times, bad times, the whole shebang. I've seen the gamut, the highs and the lows of entrepreneurship. So we were talking about a name for this product. And he kind of was like, I don't know about it. And I'm trying to explain him to him that this name of the product is either going to make us or break us.

[00:13:04] Because if you don't have the correct name, if you don't create that curiosity, if you don't have something that's easily memorable, then that can actually kill a great product. So know-how improves decision making. I've been here before. I've done it before. I understand. I know how to do this. And I understand why this is super important. So know-how improves your decision making. And I always say something about entrepreneurs.

[00:13:33] I said, failure is a part of entrepreneurship, right? It's a part of your journey. It's a part of the path. It will happen. What you need to do to make sure that it's beneficial to you is you don't want to make the same mistakes twice. So the only way you know if you make a mistake is actually by doing something and failing. Correct? So now, number three, know-how improves decision making.

[00:13:57] So you got to get out there and mix around, get into the water, find out what's what. I don't care how much planning that you do. You will never know all the intricacies of running a business or a specific business unless you're in it and doing it. I don't care how much study and analysis you're putting into it. Nothing compares to actually doing it. All right? So that's number three. Number four, know-how builds confidence.

[00:14:26] So there's a different level of confidence, guys, when you can say, I've actually done this before. So my confidence level with entrepreneurship is high, right? Now, I've won a lot and I lost a lot. So I've started over 17 businesses throughout my entrepreneurial career. Now, not all like real, real businesses. Some of them could have been products or services I was testing out. But 17, yeah, about 17, probably 18 now. Five of them were abject failures.

[00:14:55] Five of them were, eh, so-so. Five of them were good. And two of them turned into multi-million dollar businesses. But once again, know-how builds confidence. So all of those businesses that, you know, all the wins, the losses, everything that I've seen, I know how. It's just like a fighter, right? If I'm a big boxing fan. So if you've been in the ring, you've had 150 amateur fights, you're in the pros. There's not a lot that you haven't seen, okay?

[00:15:25] Know-how builds confidence. You know how to do something. I know how to build a successful business. Does that mean every business I start is going to be successful? No. But it gives me the confidence because I've done it before. I know how to build a multi-million dollar business. I've done it before, okay? I've done it twice, all right? So I have confidence in my abilities. That's number four. Number five, know-how makes you a better problem solver.

[00:15:56] Know-how makes you a better problem solver. Businesses rarely go exactly according to plan, guys. We know that. Nothing goes from zero straight to 100. Know-how teaches you how to adjust, troubleshoot, and keep moving, all right? Know-how teaches you how to adjust, troubleshoot, and keep moving. It's nothing you haven't seen before. I use the boxing analogy. I'm in the ring, right? And I fought all kind of different styles.

[00:16:25] Somebody makes an adjustment now. I have to adjust to their adjustment, right? So you've seen it before. You know, it makes you a better problem solver. So if you've never seen it before, then guess what? It's going to take you a while to understand it. But if you've seen this offense before, like football, somebody comes out with a new defense, right? The 46 defense back in the day, Buddy Ryan, or some other type of defense.

[00:16:52] And when it's new, people have a hard time figuring it out. But after a while, people are like, okay, all right, I can solve this problem because I've seen it before. So number five, know-how makes you a better problem solver. Number six, and we're talking about the power of know-how versus knowledge. Number six, know-how creates repeatable systems. Know-how creates repeatable systems.

[00:17:17] Once you know how to produce a result consistently, guys, you can document the process, delegate it, automate parts of it, and eventually scale it. So know-how creates repeatable systems. I'll repeat this. Once you know how to produce a result consistently, you can document the process, delegate it, automate parts of it, and eventually scale it. So systems. Systems are what build businesses and scale businesses.

[00:17:45] If your system is just you, you know, hey, I got to get more leads. I got to close more sales by myself. I got to do everything by myself. Guess what? Your business is limited. All right. Know-how creates repeatable systems. And systems are the levers that make your business grow and scale. So once you understand how to create a system, you can repeat that system. It could be a simple sales system. It could be a simple follow-up system.

[00:18:16] It could be a simple lead generation system. But know-how creates repeatable systems. And number seven, know-how creates a competitive advantage. Your competitors can read the same books, guys. They can watch the same videos and access the same AI tools as you. But what they don't have is your accumulated experience applying the knowledge in the real world. Know-how creates a competitive advantage.

[00:18:43] Once again, your competitors can do like most other people. They can get a lot of knowledge reading, watching videos, reading books, doing everything. But what they don't have is your accumulated experience, which is an action word experience, applying that knowledge in the real world. You have to apply the knowledge. And these are the benefits, guys, of know-how versus knowledge.

[00:19:09] Now, before we get to the last segment, guys, let me just share my social media contact information and resource links. So I mentioned at the top of the show, go to the website, blackentrepreneurblueprint.com. Right now, we are in the process of revitalizing and revamping that website. It's going to be amazing. So it may be done by the time this comes out. If not, check back in about five to seven days because we're going to have tons of free

[00:19:38] resources, we're going to have a diagnostic assessment on that page that's going to show you quick two minutes assessment that's going to show you where your business is getting blocked up and how you can solve that. So go to blackentrepreneurblueprint.com. Now, if you want to connect with me, guys, anything long, hit me on my email, jjones at blackentrepreneurblueprint.com. J-A-Y-J-O-N-E-S at blackentrepreneurblueprint.com.

[00:20:06] Facebook, blackentrepreneurblueprint. Instagram, I have two IG accounts. The first one is jjonesforreal, J-A-Y-J-O-N-E-S, the number four, R-E-A-L. Second one is blackentrepreneurblueprint. Twitter or X, jjones001. J-A-Y-J-O-N-E-S-0-0-1.

[00:20:29] LinkedIn, go to J, look for J. Jones, Black Entrepreneur Blueprint or J. Jones, SAS, founder, S-A-S-S. I'm in the SAS right now, building software. You can find me there. Also, YouTube. Make sure you guys go to YouTube, type in Black Entrepreneur Blueprint, hit that subscribe button. Matter of fact, wherever you're watching this or listening to this, make sure you hit that subscribe button so you'll be alerted when new episodes drop.

[00:20:57] We drop every Monday morning, 5 a.m. Eastern Standard Time on all your major podcast platforms and YouTube. So make sure you hit that subscribe button. Looking forward to seeing you and being part of the BEB family. Now, let's get back to the last segment of the show. Here's the bottom line, guys. The only way you're going to get know-how is by doing. So you may be scared. If you're thinking about becoming an entrepreneur, that's normal.

[00:21:26] That's natural. But really, the education comes from doing. To be, do. To be, do. All right? That's an action word. It's a verb. You have to do something. You can't sit there and just read, watch YouTube videos, watch documentaries. That's going to give you a little bit of information or knowledge, but it's not going to help you

[00:22:20] with the know-how. That skill set in your belt. Now, you don't have to really depend on anybody else. For example, the new website build. Right? I'm building websites. I'm vibe coding my ass off. Right? So I really enjoy it. And I've been building websites for people that are amazing websites. So if I had to physically go and code something, it would be crazy.

[00:22:46] So instead of me spending $15,000 or $10,000 for this new blackentrepreneurblueprint.com website, I'm building it myself. It's the know-how. All right? So I don't have to rely on anybody else to build my website. Okay? And it's a hard skill that I wanted to learn, vibe coding, because it's super important. I'm getting rid of a lot of the tools that I use.

[00:23:13] So for example, I used to use some funnel builders. I don't need funnel builders now because I'm vibe coding. I can build my own funnels. I don't need quiz software anymore because I can build my own quizzes. With vibe coding. It's the know-how. I had the knowledge of it before, but now I have the know-how. And this is super important. Now, I'm not telling you you need to know everything or do everything in your business

[00:23:42] because you want to delegate. But if it makes sense for you to know how to do something, then by all means, learn how to do it. And I'm telling you guys right now, if you're not into vibe coding, and I'm probably going to do a master class on this, it can save you a lot of money. But not just that, it can help you exponentially grow your business. So if one of the roadblocks in your business was you didn't know how to create high converting landing pages,

[00:24:12] guess what? If you learn how to vibe code and create the correct prompts, you can create these landing pages and templates. You know, so now, you know, I talk about micro marketing. You have one product, but you sell it to different verticals or different people. That conversation is going to be totally different. So instead of you physically doing three different landing pages, you know, for the same product for different verticals, you create a template and then you have vibe coding

[00:24:42] and you use that to adjust each of the landing pages to that specific target market. So know-how versus knowledge. Knowledge can be acquired anywhere by watching somebody, by reading something, by, you know, doing something. You know, now just because you do it doesn't mean you have the know-how, but it actually takes a level of efficiency or proficiency, I should say, to know how to do something.

[00:25:11] So knowledge tells you how business works, guys. Know-how teaches you how to make your business work. Knowledge tells you how business works, telling you, oh, this is what you need, but know-how teaches you how to make your business work. That's a big difference, guys. Knowledge versus know-how. Don't be up there with paralysis by analysis. I know there's an information overload out there.

[00:25:38] You have to, the sources that you get information from, you have to wean them out, guys. Because if you listen to everybody, you're going to be paralyzed. Right? And I talk about entrepreneur ADD. That's a real thing. You know, as entrepreneurs, a lot of times, we can't stay focused because we keep seeing these opportunities. So that's another thing we have to focus on. And we need to be able to understand that doing is really the only way

[00:26:06] you're going to learn how to be proficient as an entrepreneur. So don't worry about if you're going to make mistakes, guys, because you will. That's part of the process. That's part of the education for an entrepreneur is making mistakes. So recognize and understand that what real good and astute entrepreneurs do is they don't make the same mistake twice. And the only way you're going to realize that you made a mistake is by how? Making that mistake.

[00:26:34] And in order to make a mistake, that comes from action. Taking action. Okay? So don't be scared about it, guys. Get out there. Start mixing around. And the only true way to find out what it takes to be a successful entrepreneur is when you actually are in the game. So today's episode, the power of know-how versus knowledge. Knowledge is great, but know-how is what's going to take your business from point A to point B.

[00:27:04] It's going to unlock things in your business that nobody else can when you know how to do something. And I'll close with this. Knowledge tells you how businesses work. Know-how teaches you how to make your business work. Big difference. Now, I say this each and every week because it's true. We get more and more downloads because of you, the BEB family, and I appreciate you guys so much. Please continue to spread the word about the podcast, the blog,

[00:27:33] the online courses, the books, the whole ecosystem designed to help you elevate your entrepreneur IQ. Remember, it's not about me. It's not about you. It's about us. It's about building an economic power base in the worldwide black community by building and supporting black-owned businesses. Love you guys. See you same time next week. Peace.