In the verses before this one, Paul gives us his resume so to speak. He says, “If anyone wants to boast, I have the credentials to back it up. Since birth I have kept the law and I had it down to a ‘T.’ I was even a Pharisee. I did all things that I thought would please the Lord.” Sometime during his conversion, Paul realized all he had accomplished was nothing compared to knowing Christ. He placed his relationship with Christ before everything that he once knew and had.
I remember when I was graduating from high school. I had a plan for my life. In fact, I used to pride myself on having a college degree. Like Paul, I have come to the same conclusion, I count these things as loss for Christ. My relationship and knowing Him is far more important than anything I was able to accomplish.