Many know the told story of Thomas Edison, the inventor of the light bulb … Well, it is false, Edison did not invent the light bulb, he wasn’t even the only one to improve it or have the best version of the incandescent light bulb. Edison wanted to power houses with DC current, and if it weren’t for Tesla, we would still be decades back technologically!
But Edison was a good businessman and entrepreneur that’s for sure. He found a product and worked with his team relentlessly to improve it, and find ways to up-sell the customer. He demonstrated mastery skills in entrepreneurship, sales and marketing.
Many of life’s failures are people who did not realize how close they were to success when they gave up.– Thomas Edison
Back to the quote … giving up is no doubt, the biggest reason for failure, and that’s why i am against the idea of failing fast, even-though most investors prefer it. But, sometimes people just want to move on, especially after having struggled for a long time without any serious lucky breaks.
Success is partly luck, for some lucky breaks come fast and we call these people great entrepreneurs, for others lucky breaks can take some time to appear and for others these lucky breaks might never appear …
The quote is difficult to really evaluate, as we can not really know the amount of people that would have succeeded. If we reverse the quote, you will see the amount of successes that almost failed if they gave up just a bit earlier or didn’t get a last minute lucky break.