Three Feet From Gold: Quitting Before You Achieve Success

byMelWaller

14.1K followers

3 months ago

(Cover Photo: Gold Bars)

Hi everyone,

Excerpt from Think and Grow Rich by Napoleon Hill 1937 (Public Domain Work) published by yours truly. :-)

THREE FEET FROM GOLD

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. An uncle of R. U. Darby was caught by the “gold fever” in the gold rush days, and went west to DIG AND GROW RICH. He had never heard that more gold has been mined from the brains of men than has ever been taken from the earth. He staked a claim and went to work with pick and shovel. The going was hard, but his lust for gold was definite.

After weeks of labor, he was rewarded by the discovery of the shining ore. He needed machinery to bring the ore to the surface. Quietly, he covered up the mine, retraced his footsteps to his home in Williamsburg, Maryland, told his relatives and a few neighbors of the “strike.” They got together money for the needed machinery, had it shipped. The uncle and Darby went back to work the mine.

The first car of ore was mined, and shipped to a smelter. The returns proved they had one of the richest mines in Colorado! A few more cars of that ore would clear the debts. Then would come the big killing in profits.

Down went the drills! Up went the hopes of Darby and Uncle! Then something happened! The vein of gold ore disappeared! They had come to the end of the rainbow, and the pot of gold was no longer there! They drilled on, desperately trying to pick up the vein again, all to no avail.

Finally, they decided to QUIT.

They sold the machinery to a junk man for a few hundred dollars, and took the train back home. Some “junk” men are dumb, but not this one! He called in a mining engineer to look at the mine and do a little calculating. The engineer advised that the project had failed, because the owners were not familiar with “fault lines.” His calculations showed that the vein would be found JUST THREE FEET FROM WHERE THE DARBYS HAD STOPPED DRILLING! That is exactly where it was found!

The “Junk” man took millions of dollars in ore from the mine, because he knew enough to seek expert counsel before giving up.

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I am confident most if not all have come this close to Success at least once in their lives. I'm sure more than once for myself. Let's learn from our own mistakes and the mistakes of others.

NEVER GIVE UP!

To Our Success!

Mel Waller

P.S. Adding Content so it will publish on WA since it says it is not unique.

The story of "Three Feet from Gold" from Napoleon Hill's "Think and Grow Rich" serves as an excellent case study in the psychology of success. Here are some key psychological principles illustrated by this and other similar examples:
1. Persistence and Perseverance

• Proximity to Success: The story underscores the idea that success might be closer than one thinks. The psychological lesson here is the importance of persistence. Giving up too soon can mean missing out on significant achievements. This is linked to the concept of grit, where perseverance for long-term goals despite setbacks is crucial for success.

2. Mindset of Growth vs. Fixed

• Carol Dweck's work on growth mindset complements this tale. A growth mindset, where individuals believe their abilities can be developed through dedication and hard work, would have encouraged Darby to persist or re-strategize rather than give up. In contrast, a fixed mindset might lead one to see failure as a limit of their capabilities.

3. Cognitive Biases

• Loss Aversion: People tend to prefer avoiding losses to acquiring equivalent gains. In Darby's case, the fear of further financial loss might have overshadowed the potential gains, leading to a premature decision to quit.
• Sunk Cost Fallacy: On the flip side, if Darby had continued digging solely because of the money already spent, that would have been a sunk cost fallacy. However, not recognizing the potential just beyond the effort already invested is where this story diverges; it's about recognizing when to push through.

4. Motivation and Goal Setting

• Intrinsic vs. Extrinsic Motivation: Success stories often reveal that intrinsic motivation (doing something because it's inherently interesting or enjoyable) can sustain effort longer than extrinsic rewards. In the context of the gold mine, if Darby had been motivated by the love for the discovery or process rather than just the financial gain, he might have persisted.

5. Learning from Failure

• Resilience: Stories like this highlight the importance of learning from failure rather than being defeated by it. Darby's mistake became a lesson for others, emphasizing resilience. As Henry Ford said, "Failure is simply the opportunity to begin again, this time more intelligently."

6. Expertise and Seeking Help

• The fact that the junk man succeeded by consulting an expert shows the value of acknowledging one's limitations and seeking advice. In psychological terms, this is about adaptive expertise, where one not only learns but also knows how to apply knowledge in new or changing conditions.

7. Emotional Regulation

• Dealing with frustration, disappointment, or the fear of failure is crucial. The story might imply that better emotional regulation could have helped Darby manage his reaction to initial failures, perhaps leading him to reassess rather than retreat.

In summary, success often involves navigating a complex interplay of cognitive, emotional, and motivational factors. Stories like "Three Feet from Gold" resonate because they reflect universal human struggles with perseverance, mindset, motivation, and the utilization of setbacks as stepping stones rather than stumbling blocks. These lessons are not just about business or financial success but are applicable across various domains where human endeavor is involved.

Summary by Grok 2