Some time ago, I received a phone call from a friend of mine, Tony Jeary, asking if I could meet with a client of his. The client, Splash Media, wanted to start a success oriented TV network.
Splash was made up of 2 principals, Marc Sparks and Chris Kraft. They picked my brain about the personal development industry as well as my own ventures, YourSuccessStore.com and Jim Rohn International. Over a period of several months we came up with a concept, TSTN, The Success and Training Network. I was able to bring in many big names into the endeavor including Jim Rohn, Les Brown, Stephen Covey, Brian Tracy just to name a few. My time was limited so I suggested we pursue a 20 year friend of mine, Darren Hardy to be the President. Yes, this was a few years prior to Darren becoming the Publisher of SUCCESS Magazine.
So that’s the backdrop to this valuable lesson I learned from Marc Sparks.
It was our second or third meeting and Marc was ready to get down to some gut level conversations. He shared with me some of his biggest successes as well as his most challenging moments. Then it was my turn. He had heard my best stories as well as any special spin I had on them. 🙂
But he was really interested in what my worst failures and disappointments had been in business and, in particular, the personal development industry.
Trust me, I had plenty to share, but one in particular stood out. It included miscalculations, bad decisions and poor leadership on my part and at the end of the day a huge financial blow, which all in all took me almost 3 years to recover from. And yes, it was humbling and a bit embarrassing to share it all, but the truth is the truth.
So after baring my soul, Marc looked at me and said, “GREAT! I never do business with anyone who has yet to have their first big failure because when they do, I don’t want it to happen on my watch and my dime.”
Haha, I had never looked at it that way. I could honestly tell him that those 3 years did serve me well because of the lessons I learned and the experience I gained. Unfortunately, often times those very failures can be heavily weighed against us.
I’ve since taken Marc’s insightful perspective and applied it to my own criteria when evaluating partnerships and JV deals.
Our failures and mistakes will always be the greatest teachers and life-long lessons when we learn from them and keep them in the proper perspective.
Marc, thanks again for your trust and a great life lesson!
To Your Better Future,
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Kyle Wilson is the founder of Jim Rohn International and YourSuccessStore, he also is the co-author of Chicken Soup for the Entrepreneur’s Soul. To learn more about Kyle go here.