The Failure Formula That Creates Champions

 Unfortunate is the person who has never had the thrill of being penniless at one time or another. If you're here, if you're listening to this, you have the intelligence and the resources and likely the desire to change people's lives. If you do not go through your fair share of experiences, In failures, you will not have the lessons.

You won't have the skills to actually do what you're called and supposed to do. Everybody wants my calling, but they don't want my training. My lessons are a byproduct of my ability to lose well and then to come back and win. What if you could build a business in the modern world as big or as small as you want without having to compromise the things that were the most important to you in the very beginning?

This is The Wealthy Consultant Talks Podcast with Ted. Taylor Welch and Mike Walker, as they share with you today, their learning lessons from stories in their experiences over the past 10 to 15 years and share with you right here, right now,  let's get into it. We have observed from the biographies of men of destiny, men and women of destiny that nearly every one of them was sorely tried.

And this is it run through the mill of merciless experience before they Arrived. It's the people who don't have perspective on this. They can't make it through their own challenging situations. It's literally why? The arena exists because when you start seeing all the times Abraham Lincoln lost all the times disney got betrayed Well, even today all the times napoleon Got beat up and you're like, oh my life is actually not that different I I am following a pattern that is very similar to my heroes.

I just have to continue operating the right way in The middle. So six turning point. He's done with the candy business. He's too much trauma. He's done with that. He starts teaching advertising and sales at a school that at a, at a college.  So he's got his own course. People pay him to come and they learn from him and it's going really well, fantastically well, actually one year he collects 75, 000 in tuition, which if you actually account that for inflation, it's a lot of money for somebody like Napoleon Hill who,  you know, yeah.

Doesn't have any business and doesn't have any income.  But then the second military draft came and it destroyed the school.  Most of his enrolled students were drafted and he went from making that 75, 000 to nothing because he didn't have any money.  Once again, he says, I am penniless.  Again, I don't know if he's exaggerating, if he's being like a marketer, but  he feels penniless.

So we're going to go with that. It means no pennies. You have no pennies. Zero. You are, you are devoid of all of your pennies.  So a lot of times we think like this was before we had all the programs and the education and the different types of things, it's very, very difficult for anyone to go penniless today.

Like you, you usually have something like somebody can give you something, um, unless you're. On this and you're actually homeless, in which case we need to talk and we'll help you out.  He's penniless, he's back to nothing,  and he writes this.  This is crazy. This man was crazy.  He says, unfortunate  is the person  who has never had the thrill of being penniless.

At one time or another,  as Edward book truthfully stated, poverty is the richest experience that can come to a man and experience, which, however, he advises one to get away from as quickly as possible. What's he saying here? He says that poverty is the richest experience you can have, but you should get the hell away from poverty as soon as you can. 

Everybody's got to experience it once or twice lean all the way in because we used to have a phrase when we were training salespeople way back in the day. It went like this. If you're going to eat shit, don't nibble.  I'll put it all up in there. Take it all. Get everyone has their allotment of shit. In their life, everyone, and it's fairly equal. 

It's fairly equal, give or take, but some people, they are like, I just, I'm, I'm going to hang on as long as I can. I'm not going to do it. I'm not going to do it. I'm not going to do it. And then they end up spreading pro rata, their shit eating across their entire lives. And what I wanted to do is when I very, when I started at the beginning, I'm just going to eat as much shit as I can, because I'm going to have to eat it anyways.

I might as well just yeah.  Force it all the way up to the front  and take it all in, in one fell swoop. If, if that's a Ben Horowitz quote, I'm so sorry. I didn't know that, so I've just been using that as my quote, but apparently Bejewel says that's Ben Horowitz, who's smarter than I am, so we'll go with that.

And when, when you look at other people,  it's the, it's the folks who tend to.  Have this these clustered series of good luck and bad luck together.  And when you look at the people who really struggle is they try to spread out all of their bad luck across the way and I just want to get it all out of the way.

So he's the pulling hills having the reason he has so many setbacks is he's like. Over and over and over and over and over. Do not amortize the struggle. Incredible. And but he says that his perspective on being penniless is it's the thrill  and it's one of the most enriching experiences that you can have.

I think that sometimes the way that Napoleon was able to succeed the way he was  is because he was able to correctly look at the negativity in his life. As opportunities, not just negativities.  And he wrote about it. And what did he believe about failure? He believed that failure, inside of failure, were his lessons.

And the way you feel about something is how you believe about something. Your belief is what creates the feelings. And so if you feel that setbacks are inevitable, but they are. Magical and their ability to train and scope to you, then you will not be afraid of the setbacks when they come. And it's amazing what happens when you're not afraid of something.

You tend to attract less of it.  So another thing for you. It's as an aside,  he writes this. It must have been obvious to you that most, if not all of my temporary defeats were due to mainly the fact that I had not yet discovered the work into which I could think. Throw my heart and soul finding the work for which one is best fitted and which one likes best is very much like finding the person whom one loves the most.

There is no rule by which to make the search, but when the right niche is contacted, one immediately recognizes it. So he's, he's, he's basically cataloging all of these things. It's like they were pushing him into his proper lane. He would go to this lane. Nope. This isn't the right lane. He would go to the next one is seventh and his final place was the editorial newsletter. 

And he writes this. I am glad that I've experienced much defeat. It has had the effect of tempering me with the courage to undertake risks and tasks  that I never would have become  had I been surrounded by protecting influences.  There's a calling for you.  There's a mandate for you, a mission for you, and it's likely big.

So be real about that for a second.  It's likely a big deal. Like what you're supposed to do is probably a big deal.  If you're here, if you're listening to this, you have the intelligence and the resources and likely the desire to change people's lives. True.  True. True. If you do not go through your fair share of experiences.

In failures, you will not have the risk tolerance, you won't have the patience, you won't have the materials, you won't have the lessons, you won't have the skills to actually do what you're called and supposed to do. It's amazing to me how  everybody wants my calling, but they don't want my training.  Well, good luck. 

There's no way.  It's like you won't survive. You'll, you'll, you'll be here for a day and then you're out of the game. And that's not, that's not because I think I'm better. That's because I've been through probably more failure.  My lessons are a byproduct of my ability to lose well, and then to come back and win again.

And so he's saying, I'm glad I've experienced this defeat because it had the effect of tempering me with courage to undertake risks and tasks that never would have done if I was surrounded by protecting influences. He writes this, you should write this down at the very end.  No one,  no one has a right to brand you as a failure, except yourself. 

It's not what other people say about us, it's what we say about ourselves. And you can say something about yourselves without even opening your mouth, because you're thinking.  You're thinking it about yourself. There's an advisor to Cyrus, who is the king of Persia,  and this advisor says,  he wrote it down, he says, I'm reminded, O king, and take this lesson to heart,  that there is a wheel on which the affairs of men revolve,  and its mechanism is such that prevents any man from being always fortunate. 

There's a wheel on which the affairs of men revolve, and its mechanism is such that it prevents any man from being always fortunate. What is he saying to this king of Persia? He's saying you're going to take your fair share of failure.  You're not, you're not going to be always fortunate. It doesn't matter whether you were born into it.

It doesn't matter what opportunities were handed to you. There's a, there's a wheel on which the affairs of men revolve and the mechanisms prevent any man from being always fortunate.  So therefore we have to learn how to take failure and flip it around into lessons.  And the more we can do that, and the faster we can do that, the faster we get to go on and win.

John Maxwell says, uh, how you lose determines how long it will be until you win again. This is the key. Lessons are born out of challenging circumstances.