The document discusses the four stages of learning a new skill according to the Conscious Competence model: 1) Unconsciously Unskilled, 2) Consciously Unskilled, 3) Consciously Skilled, and 4) Unconsciously Skilled. It applies this model to becoming an entrepreneur and outlines the dangers of stages 1 and 2 of being unconsciously or consciously incompetent, emphasizing the importance of gaining competence and advice from mentors. Stage 3 of conscious competence is described as what most moderately successful entrepreneurs operate at, while stage 4 of unconscious competence is the level of mastery attained by highly successful entrepreneurs.