Why Failure = Great News

Sometimes I get to cover stories on The Builders & Funders Show that encapsulate timeless pieces of wisdom.

My 47th interview with Steve Walsh had one of those. You see Steve grew up with working-class parents.

He briefly went into politics when he worked for Congressman Joe Kennedy at 18~19 years old.

Everything was going well until, much to his dismay, he learned everyone he worked with including Joe Jennedy’s Chief of Staff had 2nd or even 3rd jobs since being a public servant paid very little.

Jim Walsh, for example, was Joe Kennedy’s Chief of Staff. He also would bartend at night to be able to provide for his family.

So Steve decides to quit and go into sales, working for billionaire Herb Chambers. That’s where he picks up on this one timeless piece of wisdom.

Your biggest wins in life often come right after your biggest losses.

It’s a rainy day in Boston and a 22-year-old Steve Walsh is dressed in a suit. The only suit he owns.

He’s going from office building to office building trying to sell different printers, photocopiers, etc.

Keep in mind none of these buildings allow salesman so he often needs to either come up with creative excuses or outright dodge security with his parkour skills.

During this one day security manages to catch him and throws him out into a puddle outside - in the only suit he owns.

In Steve’s words, if there was a time to quit sales it was that very moment. He’s a 22-year-old, soaked in the one suit he owns with close to no money in his bank account.

But Steve pictures his parents, remembers all that they sacrificed for him and decides to keep pushing.

Exactly a month after that incident, at 22 years old, Steve closes the biggest deal he had ever closed.

He makes $30,000 in commission. Roughly $100,000 when adjusted for inflation.

During our interview, Steve pointed out an interesting pattern in his life. His greatest victories, often came after his worst, most crushing defeats.

Steve later went on to join Cox Communications, helped scale it to $1 billion in revenue, and then followed the CEO to join Comcast as an executive.

Comcast is where Steve burned out and quit everything. Right in that moment as he was burned out and didn’t know what to do - it struck him.

He could start angel investing. That’s how Hands on Angels was born.

Go to the Builders & Funders Show to watch the full interview with Steve! See you next week.