The above Hadith is a part of a long Hadith which talks about the importance and virtues of seeking knowledge.
This Hadith mentions that if one chooses to seek the path of knowledge then he has a lot to gain from it. If we try to analyze, we will understand that the type of knowledge our Prophet Muhammad (peace be upon him) is mentioning hear is the knowledge of the Qur’an and the Sunnah. This kind of knowledge will lead one to paradise. Othman Bin Affan (may Allah be pleased with him) narrated that the Prophet (peace be upon him) said, “The most superior among you are those who learn the Qur’an and teach it.” (Bukhari)
The road to paradise becomes easy when a Muslim seeks knowledge for the sake of Allah Alone, for only His pleasure and to seek His reward. Since Islam teaches every aspect of life one can easily identify a change in behavior, outlook and perspective of the seeker.
To gain proper kind of knowledge a Muslim should do actions that are ordained by Allah and avoid things forbidden by Him. He should become punctual in offering his Salah, Sawm and other obligations. He should not only improve his relationship with his Lord but also improve his relationship with his kith and kin and all human beings in general. Please read more here.