Earlier this year, at our G2 FY25 kickoff in Chicago, we had the privilege of having bestselling author Alex Banayan join us as a guest speaker to share his Third Door™ framework with our Sales and Marketing teams.
His thought-provoking keynote and the insights from his book, The Third Door, resonated deeply with me as an entrepreneur and offered valuable lessons applicable not only to my personal journey but also to our organization's growth and success.
In explaining the concept of "The Third Door," Alex explains there are always three ways in – for life, business, and success. Just like at a nightclub, there’s the main entrance where most people wait and hope to get in. Then, there’s the VIP entrance, where some can slip through.
However, the typically overlooked Third Door is “the entrance where you have to jump out of line, run down the alley, bang on the door a hundred times, crack open the window, sneak through the kitchen – there’s always a way.” Alex goes on, noting that, “Whether it’s how Bill Gates sold his first piece of software or how Steven Spielberg became the youngest studio director in Hollywood history, they all took the Third Door.”
From the stories detailed in Alex’s best-selling book, here are the top lessons that have left a lasting impression on me:
- Embrace authenticity and pursue your PEAK vision: Be your authentic, unique self, and relentlessly pursue your own PEAK vision for your life. Strive to make the world better based on what truly energizes you. I’ve found that once I gained more clarity and purpose in my motivations, I became a better person, and a better leader. Alex's example of Bill Gates' IBM negotiation brilliantly illustrates the power of staying true to your vision.
- Hustle with enthusiasm: Achieving extraordinary impact requires doing the work maniacally to bring your vision to life. Early on, entrepreneurs must wear many hats – they're often salespeople, marketers, accountants, and lawyers. As the business scales, they can focus on what they best – their zones of genius, while bringing on specialists to do the same in those other roles. The work does not stop though; it becomes more focused and impactful.
No one who has achieved greatness has been about to skip out on the hard work. I believe in leading from the front – engaging directly with your customers and employees — continuously selling and sharing your vision, and aligning your team to make it a reality. Some of the best insights come from the ground floor, so it’s crucial to remain involved and engaged no matter what your title is.
- Persevere through setbacks: Accept that you will encounter numerous rejections and setbacks along the way. Embrace the idea that your journey will consist of a portfolio of efforts – both positive and negative – and keep building a pipeline of potential excellence, knowing that successes will inevitably emerge.
As a 5x SaaS entrepreneur, I have learned a great deal about failure and what it takes to adapt. After building my first business, Big Machines, we were down to our last $1M in funding. I was stressed and nervous to let down my family (who invested) and friends (who were working for me and their livelihood depended on the success of the business). The company eventually made a turnaround and was bought by Oracle, but I still viewed this as a failure because this was done on my investors’ terms, not mine.
But I persevered and did it all over again – starting another company in the same space, Steelbrick, which was acquired by Salesforce. This felt like a true success to me.
- Tap into creativity: When your hustle doesn't pay off, and you find yourself seemingly stuck on your quest to realize your vision, tap into your creativity to find the 'Third Door' to unlock new opportunities. Thinking creatively often requires stepping away from your work.
Take, for example, Lin-Manuel Miranda coming up with the idea for ‘Hamilton’ while on vacation. When I step away from my desk and get outdoors each day for one hour to exercise, it’s my way of recharging both mentally and physically so I can be my best and channel more creative ideas.
These takeaways resonated so deeply because they align perfectly with our PEAK values at G2. For our Sales and Marketing teams, they serve as a powerful reminder of the perseverance and creativity required to succeed in their roles – navigating the evolving SaaS landscape with increasing market pressures.
Having been on my entrepreneurial journey for 25 years, it’s refreshing to continue learning about the definitive mindset of exponential growth and success from those like Alex, who has gathered insights from some of the most well-known leaders to share with the masses.
His Third Door™ framework serves as a powerful reminder of the unwavering determination, creativity, and authenticity required to achieve extraordinary success.
Reach more buyers.
by Palmer Houchins