An entrepreneur will face many setbacks while traveling the path. These setbacks may at times feel crushing while they are being experienced. However, given the perspective of time, say five or ten years, reflecting back on these same experiences will not feel anywhere near as difficult. In fact, these experiences may feel endearing given the perspective of time.
The ability to overcome temporary setbacks is a critical component for success in entrepreneurship. The following are relevant highlights from the section Three Feet From Gold as originally presented in Think And Grow Rich by Napoleon Hill:
-One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat. Every person is guilty of this mistake at one time or another.
-More gold has been mined from the brains of men than has ever been taken from the earth.
-DESIRE can be transmuted into gold.
-I will never stop because men say ‘no’.
-Before success comes in any man’s life, he is sure to meet with much temporary defeat, and, perhaps, some failure.
Concerning the final point, the author elaborates:
“When defeat overtakes a man, the easiest and most logical thing to do is to QUIT. That is exactly what the majority of men do. More than five hundred of the most successful men this country has ever known, told the author their greatest success came just one step beyond the point at which defeat had overtaken them. Failure is a trickster with a keen sense of irony and cunning. It takes great delight in tripping one when success is almost within reach.”
As an entrepreneur things can, and often will get tough. The urge to quit can be overwhelming, and as Hill states, most people do. Perseverance appears to be a major quality between those who generate significant amounts of wealth and those who do not.
I wonder how many have quit when they were just three feet from gold?