Most entrepreneurs quit in the Valley of Doubt, right before they would have succeeded. The speaker breaks down dropout rates at each stage and argues that persistence through failure is what separates those who make it from those who don't.
Everybody has that little voice in the back of their mind when they're trying to start their entrepreneurial journey of, you can't do it. You're going to fail in front of everybody. Well, I'm going to show you exactly what happens now. You start your journey in this position here. And in this position, you will lose 20% of people because it's difficult to do. You then move over to this image where you start to get a couple of things right. But. But you're still failing. And in this position, you'll lose 30% of people. This is step three. And here is the most devastating for entrepreneurs, because they are one step away from success. They have started to eradicate errors and improve what they are doing. And 49% of people quit there. And it genuinely hurts my soul to see this is what success looks like. But this image of the Valley of Doubt is where every single entrepreneur finds themselves for prolonged periods of time. And you need to continue on the road of persistency. Never quit like crabs in a bucket. Let people pull you down. Do not allow that to happen. Continue to march towards success. Because the worst thing that can happen is you end up exactly back where you are today. And the best thing that can happen is that all of your dreams come true. And I've never seen somebody give 100% and fail.
