Indeed, I count everything as loss because of the surpassing worth of knowing Christ Jesus my Lord. For his sake I have suffered the loss of all things and count them as rubbish, in order that I may gain Christ (ESV)
Our nature is prideful. We love to look at ourselves and what we have accomplished and give ourselves credit. Even those who have recognized the need to be saved from their sin by receiving the free gift of God's grace in Jesus Christ are prone to fall back into a mindset where we consider ourselves righteous based what we have done. It is a constant battle with pride.
Paul takes a look at all that he has done and instead of patting himself on the back he says, "I count it all loss." Why? Because of the surpassing worth of knowing Christ Jesus. There is a principle here for us to consider. If we truly understood the value of knowing Christ Jesus we would not be fixated on our pathetic efforts at being righteous.
Paul takes it a step further and says that for Christ's sake he has suffered the loss of all things and counts them as rubbish. This word for rubbish can actually be translated as "dung." When you consider all of the things that you possess consider that compared to Christ they are as worthless as dung. That includes what you have and what you have done.
Perspective is everything. The Judaizers were so proud of their accomplishments that they attempted to intimidate the Philippian believers into participating in all of the rituals and rites that they were involved in. But Paul reminds them that all of this work is worthless compared to the pursuit of knowing Jesus Christ. Knowing him starts by accepting his work on our behalf and giving up our selfish efforts of working for our righteousness.
What do you have and what have you done to be more righteous in your own ability? Count it all loss and pursue Christ!