![]() Successful entrepreneurs often have a history of failures, before their success. And therein lies its application to entrepreneurs and business leaders.Įvery enterprise – particularly a startup – will have rocky times. ![]() That ability also lets us keep going toward that goal despite frustrations, setbacks, and obstacles. That ability to delay gratification hinges on a cognitive skill: concentrating on the good feelings that will come from achieving a goal, and so ignoring tempting distractions. Fourteen years later, when they were tracked down, those kids who waited turned out to be better learners, more popular, and still able to delay gratification in pursuit of their goals. Jeff Weiner, LinkedIn’s CEO, asked me to discuss the premise of the “ marshmallow test” in relation to the future success of entrepreneurs and business leaders.įor those unfamiliar with this legendary experiment, in the marshmallow test four-year-olds were given a marshmallow, but told that if they waited seven or eight minutes, they could have two then – not just the one. ![]()
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