The Third Door

Success is like getting into a nightclub: there’s the main entrance, the VIP door, and then there’s the Third Door – the one you have to find, hustle for, and create yourself.

1. Success Requires Stepping Off the Beaten Path

Most people follow traditional routes to success, but the most accomplished individuals find unconventional ways to achieve their goals. Alex Banayan calls this the "Third Door." It’s about taking risks, being resourceful, and creating opportunities where none seem to exist.

Banayan’s journey began with a question: How do the world’s most successful people launch their careers? Unable to find a book that answered this, he decided to write it himself. But he didn’t have the resources to fund his mission. Instead of giving up, he took a chance and auditioned for The Price is Right. By embracing the unexpected and thinking creatively, he won a sailboat, sold it, and used the money to start his journey.

This mindset of finding the Third Door is what separates those who wait in line from those who make things happen. It’s not about breaking rules but about bending them to create your own path.

Examples

• Banayan sold a sailboat he won on The Price is Right to fund his interviews.
• Bill Gates cold-called a company to pitch software that didn’t yet exist.
• Elliott Bisnow started Summit Series by maxing out his credit card to host young entrepreneurs.

2. Persistence Opens Doors, But Balance Matters

Persistence is key to achieving goals, but it must be balanced with respect and tact. Banayan learned this lesson the hard way while trying to secure an interview with Tim Ferriss.

Banayan initially bombarded Ferriss’s assistant with 31 emails, believing that persistence alone would win him a meeting. When Ferriss finally agreed to meet, he explained that persistence works only when it’s paired with self-awareness. Ferriss shared his own story of landing a job by being persistent but polite, even flying across the country to meet a CEO after claiming he’d be “in the area.”

Ferriss taught Banayan that being overly pushy can backfire. Instead, persistence should be thoughtful and considerate, showing genuine interest without becoming a nuisance.

Examples

• Banayan’s 31 emails to Ferriss were excessive and counterproductive.
• Ferriss landed a job by persistently but politely following up with a CEO.
• Ferriss advised Banayan to avoid phrases like “Thanks in advance,” which can come across as entitled.

3. Hard Work Can Create “Luck”

Qi Lu, a former Microsoft president, demonstrated that hard work and preparation can make you “lucky.” Growing up in poverty in rural China, Lu realized that everyone has the same 24 hours in a day. He decided to sleep less and work harder to gain an edge.

Lu re-engineered his sleep schedule, eventually settling on four hours a night. This extra time allowed him to publish groundbreaking research, which caught the attention of a visiting professor from Carnegie Mellon. The professor waived Lu’s application fee, enabling him to study in the U.S. and launch his career.

Lu’s story shows that luck often comes to those who are prepared. By working harder and smarter, you increase your chances of being in the right place at the right time.

Examples

• Lu published five research papers early in his career by working extra hours.
• A professor noticed Lu’s work and helped him study in the U.S.
• Microsoft employees coined the term “Qi Time” to describe his productivity.

4. Determination Unlocks Hidden Strengths

“Sugar” Ray Leonard taught Banayan that success often comes from tapping into hidden reserves of strength and determination. Leonard’s childhood story of chasing a school bus every day to build stamina exemplifies this.

Leonard’s determination paid off in 1981 during a grueling world championship fight. Despite being badly beaten and nearly blind in one eye, he summoned his inner strength and won the match. He called this his “hidden reservoir” – a well of energy and focus that can be accessed in moments of extreme challenge.

Leonard’s advice to Banayan was simple: Never let anyone tell you your dream is impossible. Stay in the fight, and you’ll find the strength to succeed.

Examples

• Leonard ran after his school bus daily to build stamina.
• He won a world championship fight by tapping into his hidden reservoir.
• Leonard encouraged Banayan to keep pursuing his mission despite setbacks.

5. Biting Off More Than You Can Chew Can Lead to Growth

Elliott Bisnow, founder of Summit Series, taught Banayan the value of taking on challenges that seem too big. Bisnow started Summit Series by organizing a ski trip for young entrepreneurs, even though he had no experience and no money.

Bisnow charged $30,000 to his credit card to fund the event, then cold-called companies for sponsorships. The event was a success, and Summit Series grew into a global phenomenon. Bisnow’s philosophy is simple: Aim high, take risks, and figure out the details later.

This approach pushes you out of your comfort zone and forces you to grow. By taking on challenges that seem overwhelming, you learn and achieve more than you thought possible.

Examples

• Bisnow maxed out his credit card to fund the first Summit Series event.
• He cold-called companies to secure sponsorships.
• Summit Series now hosts events featuring leaders like Richard Branson.

6. Authenticity Can Be More Effective Than Imitation

Banayan learned from a story about Walmart that copying others’ strategies doesn’t always work. Instead, you need to find your own approach.

When Walmart tried to compete with Amazon by mimicking its strategies, it failed. Only when it focused on its own strengths did it regain market share. Similarly, Banayan realized he couldn’t pitch himself to literary agents like Tim Ferriss. Instead, he wrote a heartfelt email explaining his unique mission, which finally landed him an agent.

The lesson is clear: Authenticity resonates more than imitation. Be yourself, and you’ll stand out.

Examples

• Walmart succeeded by focusing on its strengths instead of copying Amazon.
• Banayan’s heartfelt email landed him a literary agent.
• His friend Brandon encouraged him to find his own strategy.

7. Small Risks Can Lead to Big Breakthroughs

Bill Gates’s early success came from taking small but bold risks. At 19, he cold-called a company to pitch software that didn’t exist yet. This phone call led to a meeting, which led to Microsoft’s first big deal.

Gates’s story shows that success often starts with a single brave step. Whether it’s making a phone call or sending an email, small actions can have a huge impact if you’re willing to take the risk.

Examples

• Gates cold-called MITS to pitch software that didn’t exist.
• He and Paul Allen worked tirelessly to create the software in eight weeks.
• The deal with MITS launched Microsoft’s success.

8. Asking for Help Can Open Unexpected Doors

Tony Hsieh, CEO of Zappos, taught Banayan the power of asking for help. When Banayan asked to shadow Hsieh for a day, Hsieh agreed, even though no one at Zappos had ever made such a request.

Hsieh’s openness to helping others showed Banayan that people are often willing to help if you simply ask. This lesson applies to all areas of life: Don’t be afraid to reach out and ask for what you need.

Examples

• Banayan asked to shadow Hsieh and was granted his wish.
• Zappos employees had never asked to shadow Hsieh, even though he was open to it.
• Hsieh encouraged Banayan to embrace his ego and be honest about his goals.

9. Success Comes in Many Forms

Steve Wozniak, co-founder of Apple, showed Banayan that success isn’t just about wealth or status. Wozniak chose to step back from Apple and focus on what made him happy: engineering and living life on his own terms.

Wozniak’s decision to gift his shares to early Apple employees also demonstrated his commitment to his values. For Wozniak, success is about staying true to yourself and finding happiness in your own way.

Examples

• Wozniak chose to remain an engineer rather than pursue a leadership role at Apple.
• He gifted shares to early Apple employees to honor their contributions.
• Wozniak’s happiness came from living life on his own terms.

Takeaways

1. Take small, bold actions to create opportunities, like making a phone call or sending an email.
2. Build a pipeline of opportunities to increase your chances of success.
3. Embrace your unique path instead of copying others, and don’t be afraid to ask for help.