Unlocking Business Success: Embracing the Knowledge Pie Mindset

Understanding what you know and what you don’t can be a game-changer for business success. The Knowledge Pie, a concept introduced in 1992, breaks down our awareness into five insightful slices.

1. Things You Know You Know
2. Things You Know You Don’t Know
3. Things You Don’t Know You Don’t Know
4. Things You Know But Have Forgotten
5. Things You Think You Know But Don’t

Donald Rumsfeld, the former US Secretary of Defence, famously discussed ‘Known Knowns’, ‘Known Unknowns’, and ‘Unknown Unknowns’ in a speech in 2002. Long before that, the Greek philosopher Socrates highlighted the value of recognising our ignorance by stating, “Awareness of ignorance is the beginning of wisdom.” Embracing our lack of knowledge is essential for growth and success.

Let’s delve into three crucial slices of the Knowledge Pie, which are pivotal for deepening your understanding of yourself and potentially your clients/customers:

1. What we know
2. What we know that we don’t know
3. What we don’t know that we don’t know

Picture a pie representing all knowledge. Split it in half, then divide one half into two quarters. These quarters represent what we know and what we know we know. The larger half signifies what we don’t know we don’t know.

It’s important to recognise that these slices vary for each person, but the largest slice – what we don’t know we don’t know – remains constant. This category encompasses 99.99% of all knowledge in the world! While we can’t know everything, staying open to learning helps us grow personally and professionally.

How can you uncover what you don’t know you don’t know?

Begin with familiar territory. For business owners, expanding your business knowledge is key. Here are some ways to start:

• Attend webinars, talks, learning events etc – even if you’re familiar with 80% of the content, the remaining 20% can reveal unknowns.
• Join a Mastermind with other business owners.
• Network with other business owners.

To expand your personal knowledge pie:

• Visit new places, such as museums or historical sites.
• Learn a new skill.
• Listen to podcasts.
• Read a diverse range of books, both fiction and non-fiction.

Attending to the other slices:

When you know what you don’t know, decide whether to acquire that knowledge or leave it be. In business, this might mean learning a new skill or delegating tasks to someone more knowledgeable.

Recognising what you know allows you to acknowledge your knowledge limits, but also to share your expertise with those eager to learn.

If you enjoyed this mindset article, you can take a look at our other Mindset articles.