You have said it all. It is not how much you know but how well you can apply it. Sometimes I see my friends who were not as intelligent and smart as me but they were getting better results in life than me. I later get to found out they were always eager to try something even without having a full knowledge of it. Just trying and failing, getting so much experience to give them the result they ever wanted.
Knowledge is important but without actions and implementation you cannot get the experience to be good at what you do.
I heard a quote recently that the world is run by C-grade students. It is rarely the one who knows the most, who is the most effective.