Building a BusinessPersistence

Three Feet from Gold

The story goes that a miner quit and sold his rig, and the buyer struck the vein three feet further down

A man dug for gold, found it, lost it, and quit. Someone else picked up right where he stopped.

You'll find out

  • Why the gold seemed to vanish
  • What the buyer did differently
  • How much of the story is true

Why it matters

Every venture hits a point where quitting looks smart. This story is about what lies just past it.

About 4 min7 interactive slides · 5 questionsLesson 24 · Zone 3

Play this lesson

Free to play in your browser or on iPhone

More in this zone

  1. 19Business BasicsRevenue Isn't ProfitWhat comes in minus what goes out
  2. 20StartupsNine Out of Ten Fail in Year OneUS data says about four in five new businesses survive their first year
  3. 21Unit EconomicsMargin: What You Keep From Each SalePrice minus cost, one item at a time
  4. 22Unit EconomicsThe Break-Even PointThe sale where you stop losing money
  5. 23Side HustlesYour Side-Hustle MathWhat your idea really pays per hour
  6. 25RegretRegret Runs BackwardsIn the long run, people regret what they didn't try
  7. 26Business StructuresWhy Founders Form an LLCA wall between the business and your house
  8. 27FoundersThe Ice KingA man shipped New England ice to the tropics and everyone laughed