“Entrepreneurial efforts often fail but good entrepreneurs don’t.” – Naval Ravikant
Most businesses fail.
Most goals aren’t reached.
Most investments lose money.
I know this message won’t get me nominated for motivational speaker of the year, but I know that you know it’s true.
It’s also not the whole story.
Most investments lose money, but good investors hedge and diversify their portfolio so their winning investments more than cover their losses.
Most goals aren’t reached, but good goal-setters adjust, learn, and course-correct so that their trajectory is always in the direction of progress…
…Which means, given enough time, the goals that really matter will be reached eventually — and the goals that don’t matter, don’t matter anyway.
In the same way:
Most businesses fail, but good entrepreneurs keep iterating and re-launching until something hits.
One of my longest-time students, Mason Vranes, dropped out of college to launch 8 failed businesses in the span of two years.
Every time they failed, they looked at what worked and what didn’t work, adjusted their approach and launched again.
On his 9th try, he and his partner finally nailed their market, positioning, and offer…
…And today, they are generating over $15 million in annual revenue (at 23 years old).
Moral of the story:
If you think the game is over every time you miss a shot, you don’t belong on the court.
And if your ego freaks out at the sight of failure, success probably ‘aint for you.
(told you this message wouldn’t get me nominated for motivational speaker of the year)
But, if you can…
1. Go for it.
2. Fail, learn from your failure, make the necessary adjustments, and then…
3. Go for it again.
…And keep going for it, relentlessly, over and over until you finally hit the target…
…Then success is nothing more than a waiting game.
That’s what Naval means when he says:
“Entrepreneurial efforts often fail, but good entrepreneurs don’t.”
He means that good entrepreneurs fail all the time.
They just keep going until they succeed.
– T
P.S. Pair today’s lesson with yesterday’s new YouTube clip:
Message To Young Entrepreneurs: Get Your Hands Dirty & Do It
(we’re beginning to drop ~2 new clips per week, make sure you’re subscribed and getting notifications so you don’t miss anything)
