Episode Transcript
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Dr. William Attaway (00:00):
It is such
an honor today to have Steve
Walsh on the podcast.
Steve is more than anentrepreneur or venture capital
investor.
He is a force that redefinesthe boundaries of what is
possible.
With over 30 years of financialand investment expertise, Steve
has crafted a career of bolddecisions and innovative
(00:22):
strategies.
His journey, which includessuccessfully navigating the
turbulent waters of risk andreward, ultimately led him to
establish Bison Equity Group, aventure capital firm committed
to empowering entrepreneurs.
Steve's influence extends farbeyond his professional
achievements.
He is an inspiring figure whosezone of genius has always been
(00:45):
in helping others see a biggervision for what's possible,
embracing their higher potentialand making their own leap
towards success.
Now, through his book Make the10X Leap, Steve continues his
mission to help entrepreneurssee their company's scalability
factor, while also guiding themthrough what it takes to get it
(01:09):
done.
Steve, I'm so glad you're here.
Thanks for being on the show.
Steve Walsh (01:13):
Hey, william,
thanks a lot.
It's a great pleasure to be onthis.
We have talked before and we'vehad some great talks and I'm
looking forward to this.
Intro / Outro (01:25):
Welcome to
Catalytic Leadership, the
podcast designed to help leadersintentionally grow and thrive.
Here is your host author andleadership and executive coach,
dr William Attaway.
Dr. William Attaway (01:42):
I'd love to
start with you sharing a little
bit of your story with ourlisteners.
I had a few of the high points,but I'd love to hear
particularly about your journeyand your development as a leader
.
How'd you get started?
Steve Walsh (01:56):
So, you know, I
kind of go back to when I was a
farm boy.
You know I grew up on a farm, afarm boy.
You know I grew up on a farmand one of the things I learned
right away is when I was inschool.
A lot of the things that Ineeded to learn to become better
, and that's my my been always.
My strive is to become betterfor work.
(02:20):
Where can I be?
And that's always brought mefrom high school, college to now
, and that was, you know, I gotmy CPA.
I think that was probably oneof the high points Well, one of
the many in high school or incollege, and then from there,
it's a matter of like.
I became an investor, and one ofthe things I was seeing a lot
(02:44):
of the was leadership.
Leadership is probably the mostimportant thing in anything you
do.
I don't care if you're inrelationships or just in a
business.
Leadership is super importantand, quite frankly, it's it's a
matter of like, it's a learning.
You have to have that learningmindset to really do that, and
(03:06):
so I've always worked with umand I go back to this too as
mentors and coaches.
Yeah, so a lot of timesentrepreneurs struggle with and
this is where I sometimesstruggle.
They don't see.
You know the, the things thatmaybe that they're missing.
You know their employees will,but you know a lot of times it's
(03:29):
they don't.
They don't notice it, theydon't see it.
And so it's good to have thatcoach and it's good to have
those mentors to say, hey, youknow, work on, maybe this is
what you really need to work onon that part of it.
The skill is leadership hasalways been important for me,
(03:53):
and how do I become a betterleader?
And that's either reading,reading books, listening to
podcasts like yours, things likethat that really can get me to
the next level, things like thatthat really can get me to the
next level.
And then so I can bring that toa lot of the entrepreneurs,
because a lot of entrepreneurs,they have one problem a lot of
times, and that's the ego, andthe ego is you run across it
(04:19):
Absolutely.
Dr. William Attaway (04:20):
You know
you talk about coaches and
mentors, and I think there'ssuch a value in having people in
your life who have an outsideperspective, who help you see
what you can't see, help you seeyour blind spots and help you
overcome those.
Has that always been somethingyou valued, or was there a point
at which you discovered, oh isum really?
Steve Walsh (04:40):
when I was in, I
think, in college.
I didn't really know it was amentor or or it was somebody
like a coach, um, but I wouldgravitate to professors that
would give me guidance.
I would gravitate towards themand it was always the ones that
(05:00):
the harder.
The hardest ones were the onesthat you remember the most.
And those are the ones that theharder, the hardest ones were
the ones that you remember themost.
Yeah, and those are the onesthat gave you the most guidance.
I didn't think of at the timeas a mentor or as a coach, but
that's what they were.
And along the way, even with umworking with different
companies when I was in, wentfrom that into accounting and I
(05:23):
decided that wasn't really whereI wanted to go, but it really.
I always attracted somebodythat was a coach or leader that
was a lot better than me, andthat was the one thing that I
noticed.
I didn't know how important itwas until I really got into
(05:44):
business on my myself and howimportant it was to get bring
somebody in that has doneactually, and it didn't have to
be in my industry, but it had tobe somebody that was doing
something better than me.
You know that and theleadership was.
I think that was the one thingthat I would always gravitate
(06:06):
towards, but, like you said, Inever thought of it before until
I really got into business onmy own, how important it was to
have a mentor, and so that'swhere I work with.
You know, one of the firstthings I do when I look at
companies is how's the leaderleading?
First things I do when I lookat companies is how's the leader
(06:28):
leading?
You know, yeah, are are theyleading?
Uh, are they letting theiremployees make decisions on them
for themselves?
You know, the one thing Ialways say is that, um, if
you're always driving wherethey're like, hey, this is
something that you got to, it'sa learning, you have to have
(06:53):
that learning mindset to decideokay, you failed here.
Okay, what did you learn?
And now let's go and look atthat a little bit different next
time, so that next time youdon't do that same thing.
And I look at it as I've hadsome really good experiences and
really bad experiences, and Ialways look at the bad
(07:15):
experiences are the ones that Ilearned the most.
Dr. William Attaway (07:18):
Well,
there's no wasted experience,
right, I mean?
The truth is, you can learnfrom any experience in your life
.
Right, I mean, the truth is youcan learn from any experience
(07:40):
in your life.
It's either there for yourlearning, for your benefit, or
so that you can help somebodyelse, and that's one thing I see
in your journey, as you'vedescribed it.
You know you always have, butyou're being very intentional
about sharing what you'velearned for the benefit of other
people.
Is that what drove you to writeMake the 10X Leap?
Steve Walsh (07:52):
Yeah, because I was
seeing the same problems over
and over again with theentrepreneur.
Entrepreneurs were.
You know.
The one thing is, a lot oftimes they become comfortable or
they tell themselves, hey, wecan't do it, our company is
different, our industry isdifferent, it just doesn't work
that way.
And they become comfortable,but they're comfortable in a not
(08:18):
so great way because they'reputting in not 50 hours a week,
they're putting in 80 hours aweek or they're doing things
that really not moving to thenext level, and so all that
stuff that they're doing thatwas really where I started with
the book is because they weredoing a lot of those things, not
doing the things that theyenjoyed, meaning getting home
for their dinner, for theirfamily, traveling, things like
(08:43):
that.
So I was seeing a lot of thatwith the business owners and
this is really where I came downto is with the book.
It gives them a roadmap for,hey, there is a better way, and
that better way is to do thingsthat they normally get, they
would normally not do.
Being comfortable is not good,you know.
(09:05):
I always say is that if you'recomfortable, it's, it's probably
you need to go to the nextlevel and, quite frankly, the
next level is not as hard as youthink it's.
It's a matter of the mindset.
It always comes to the mindsetfirst, and you, you well, you
probably have worked with thatmany a times with getting their
(09:26):
mindset on it's that it'spossible.
You know, I always go back towhere do we want to go, where is
it that you really want to go,and then work backwards from
there.
Dr. William Attaway (09:37):
I love that
.
Well, if you, if you don't havea clear destination in mind,
how can you build a bridge fromwhere you are to where you want
to be?
How can you be intentional inthat?
And that is something that I'veworked with so many clients
through, you know, aroundmindset, around leadership,
trying to help them understandthat you are the hardest person
you will ever lead.
You have to have clarity, notonly to be able to communicate
(10:01):
with your team, with otherpeople, with potential investors
, but you have to have clarity,most importantly, for yourself.
That's how you grow thatintentionality over time.
And that's one thing I loveabout your message and what
you're sharing is that you seethe value not only in the
actions, but in the mindset thatdrives them.
Steve Walsh (10:23):
Yeah, like we have
talked, the mindset start.
It starts with that.
The ego is probably one of thehardest things to leave.
Leave, you know, at the frontdoor and a lot of times, um,
your employees will see it.
They will.
A lot of times, owners feelthat you know, they're going to
hide some of the things fromtheir employees.
(10:45):
They see it, they see it.
I mean it's they, they know, um, they see the, the areas that
that they should be stronger in.
Things like that.
I mean, I love working withentrepreneurs that are have a, a
growth mindset, that understandthat, hey, they don't have all
the answers.
(11:05):
So you know, that's the onething is, and work with their
employees to build a culturethat is fun.
Dr. William Attaway (11:23):
You know I
mean, that's what I was down to
that growth and comfort cannotcoexist, right?
You pick one.
If you want to be comfortable,you're not going to grow.
If you want to grow, you're notgoing to be comfortable.
And what you're describing hereabout that growth mindset is
that is a choice that you makedaily.
This is not a one and done.
(11:44):
This is something that youchoose, and I know, like the
entrepreneurs who are readingyour book and who are listening
to what you're saying, they'regoing to be challenged by this,
because that type of a dailychoice, that type of a daily
habit, to choose that mindset,to choose that path Some days
(12:04):
that's easier than others.
Steve Walsh (12:07):
You know it's, it
starts at the beginning of the
morning and for myself, it's therituals you start in the
morning.
How do you start your morning?
You get up in the morning, whatdo you do to get your mind
moving forward?
And that's where I think healthis really important, yes,
really important, and I thinkmind, body and soul.
(12:28):
And I look at that as how canyou, you know, go to the gym,
work out, hit that, read.
I think reading is reallyimportant, even if it's 15
minutes.
I'm a big person when it comesto meditation.
I think that really works, forme at least, and it works with a
(12:48):
lot of entrepreneurs.
They always say to me is Ican't do that?
Well, can you do it for aminute, maybe a minute?
Try a minute and then work offof that.
But go to the gym and it reallystarts with some of those things
.
What I look at is those daysthat you really don't want to go
to the gym.
That are just.
Those are the days that youneed to go to the gym.
(13:11):
That's right.
That's right, you know go ahead, go ahead.
Dr. William Attaway (13:15):
I was going
to say don't you know you talk
about?
You know I can't do that, Ican't do that.
And don't let what you can't dostop you from doing what you
can.
Right Step into what you canyou do a minute, of course you
can, of course you can do aminute.
Steve Walsh (13:35):
Start where you are
not where you think you should
be right.
Yeah, and that's that is.
That's where I start with thehabits in the morning.
Start with the morning habitsand then the rest of the day
becomes easier.
It's so much easier becauseyour mind is clear.
You, you're working off ofthings.
I have other things, too, thatI work off of that I believe are
(13:56):
really good habits.
I see a lot of entrepreneurs.
They get distracted and they'redoing 10 different things,
trying to do 10 different things, and they're working off of.
You know, they're on the phone,they're doing all these things
and I I try to get them to say,okay, let's, let's break it down
and let's, instead of doing 10different things, let's just do
(14:18):
maybe one or two.
Yeah, I go.
You know, my thing is a lot ofpeople wear an I watch, you know
a watch, an apple watch.
Yep and um, the Apple Watch.
And I suggest get rid of it.
And the reason why is this?
Because it always is going toring.
(14:38):
It's always going to die.
You're going to see the phoneswhen you're in a meeting.
Guess what?
You're distracted by looking atyour watch.
You're not listening to some ofthe things that maybe are going
on in the meeting.
So, and I that's what I dopersonally myself, and so
distractions really slow theperson down going for the day,
(15:02):
and that's that's where I workoff of that from there.
Dr. William Attaway (15:12):
You know, I
think there's so much value in
what you're saying there, steve.
I think that the distractionsthat we allow into our lives
affect our productivity in amuch greater way than we think
they do.
And you're right.
This watch that I wear, it'sgreat for step count, it's great
for, like you know, when you'reexercising, tracking workouts,
all these things, but thosenotifications.
If you don't learn how tosilence the notifications when
you need to, then you willconstantly be having your
(15:34):
attention broken, you'llconstantly be having your focus
broken, and that doesn't helpanybody.
Steve Walsh (15:40):
No, no, it doesn't,
and so they're.
You know just the habits likethat.
And then getting back to okay,now are they ready to scale?
Do we want to scale thiscompany?
Do you want scale this company,do you want, are you really?
I always say this every smallcompany doesn't have to be small
, it's a.
That's a choice, and so I lookat it as you can always grow a
(16:02):
company.
It's just a matter how far andhow fast you want to go.
Who do you want to bring init's?
You know, entrepreneurs alwayssay I can't do it, I can, only
I'm as I'm, I'm the best person.
That for this.
Well, I tell you what you canfind somebody that's probably
better than them to take oversome of the chores that they've
been doing.
Yeah, and so it's a matter likeworking off of that.
(16:25):
If we're going to scale thiscompany, we're going to need new
people.
We're going to need cap.
Probably we're going to needcap.
Probably we're going to needsystems, for sure, and then we
may have capital.
But we need to bring in capital, and that capital is depending
on what they want, what type ofcapital they want, and that's
where I will bring in capitalfor them, but it.
It does start with that mindsetfirst.
(16:47):
I I mean, if they bring incapital, it can be the worst
thing they do is bringing incapital because all of a sudden
they have to start spending itand they have no idea, no plan
to spend it.
If you go on my website atBison Equity Group, I have some
free resources on there for thatyou can look at for like a plan
(17:11):
putting together an investmentplan for you.
That's kind of an idea, andthen other resources.
You know my book is on theretoo, things like that but it
does come with.
We start with always themindset.
Dr. William Attaway (17:29):
Yeah, you
know, I think that a lot of the
entrepreneurs who are listeningwant to grow, want to scale,
want to get to a point even fora successful exit at some point
in the future, right, and somany of them are not thinking
about capital, they're notthinking about being investor
ready, like if you were sittingacross a table with them.
Why would you say that's soimportant?
(17:51):
Why would you say capital canmake such a significant
difference?
Steve Walsh (17:56):
Oh, you know it's a
matter of if they're at point A
and they want to go to point B,that capital can be the fuel.
I mean, you can really generatea lot of growth.
But it has to be smart.
You have to use that capitalsmart.
You know, I see sometimes theyit's, and this happens.
(18:19):
Entrepreneurs see these shinyobjects.
You've seen it.
Dr. William Attaway (18:25):
Oh yeah.
Steve Walsh (18:27):
And they think I
can do.
You know, let's see, I want toput money this way because I
think I've seen people makemoney this direction Right and,
quite frankly, that doesn'talways work.
It may not work for yourcompany.
You know, I always say there'stwo things that you really look
at is innovation and marketing.
Those are two really importantthings to have, and the
(18:49):
marketing is usually what theystruggle with.
They get the innovation side.
You have a really good productor service, but it's the
marketing that they strugglewith.
And so how do we do?
How do we get in front of thatexisting customer?
We stay in front of that andhow do we get into new customers
?
And so that's where that money,that capital, will probably
(19:13):
come into play is.
We're going to keep oninnovating and we're going to
keep on marketing.
Those are the two so I look atis and that's where you can go
from, I would say, a motorcycleto a rocket ship pretty fast.
Dr. William Attaway (19:32):
Wow, that
sounds appealing and I know
there's a lot of steps to getthere.
There is.
What are the things thatentrepreneurs often don't think
about when they're starting tomove into that stage when they
want to be investor ready?
Steve Walsh (19:49):
Well, I think a lot
of it's to do with where one is
, where they want to be.
You know where do they want togo.
You know the investor ready.
I always say, like we hadtalked about, is if you're,
let's say, at 10 million, youwant to be at 100 million and
that's where you want to go.
We'll work backwards.
And then what do I need to doto get there?
Do I have to get new people,new systems in place?
(20:12):
Do I have to get in marketing?
What's my marketing plan?
The thing is, each area you haveto look at and see is where are
we weak in?
The marketing is usually one ofthe number one things they
typically say I got a greatproduct, everybody should buy it
(20:32):
.
Well, that doesn't happen.
It doesn't happen.
And then from there it's amatter of how can I make
reoccurring revenue?
I love reoccurring revenue andthere's all sorts of ways to do
reoccurring revenue that a lotof times they don't even think
about.
That.
That potentially take their um.
(20:55):
I would say that reoccurringrevenue could be the one that
keeps the lights on and then,above that is you know we're
going to be selling our products, things like that, but you
always have to think about yourcustomer.
That customer is if I'm sellingthem one widget, what is the
other widget that I should beselling them?
Or what is the one service Ishould be selling them?
(21:17):
What am I doing that I'm notdoing for them?
But it always comes down tothat customer, I think, is
what's the problem that I'msolving now?
Am I solving it completely forthem?
You know, that's good.
Dr. William Attaway (21:31):
That's
really good and I think that
clarity is helpful.
You know wherever you are inthe journey, but particularly as
you begin to move toward that.
I love that mindset.
Steve Walsh (21:42):
Yeah, yeah, I mean,
I think it's.
You know that mindset is.
It's something that that I'vealways looked at.
When it comes down to, you know, there's some great marketing
guys out there that that'sthat's what they they work off
of.
That, and then also, too, is, Ithink, is how do you want to
look to your customer?
(22:03):
You know the customer.
Do you want to become justselling one thing at a time with
them, a transaction, or do youactually want to be true partner
with them?
And I think that's the mostimportant thing the relationship
you have with the customer andit's becoming more and more
important now than ever.
When you look at AI and how AIis doing, the relationships you
(22:27):
have with the customer is goingto become so much more important
than one-on-one relationship,and so, if they don't see it
that way, you're just acommodity, and so that's where I
look at it is how do we getthem to look at it a little bit
differently?
Dr. William Attaway (22:47):
You're
telling a story, you know, I
mean you're communicating anarrative, and I know that
that's an element when you're,you know, looking at investors,
when you're talking aboutcapital.
The storytelling plays a rolein that.
You know, and I think you haveto think about that in terms of
your business.
Steve Walsh (23:21):
You know, and I
think you have to know your
customer.
What is your customer?
And that's where I've seenwhere companies have looked at
and they're actually marketingto the wrong customer.
Sometimes it's the one wherethey should be marketing to the
(23:43):
wife versus the husband it's aproduct and they actually should
be marking to the wife versusthe husband.
You know it's product and theyactually should be marking to
the the wife versus the husband.
And so you got to look at it isdo they truly know their
customer?
And then are they reallyconnected?
That's where you're bringingyour customer into your story
and that's you know.
Journey with with them becomes,because it really becomes sticky
(24:06):
.
Then you know if they'relooking at it, is it a product?
You know if there's two, Ialways look at it as if there's
two different products on Amazon.
Which one are you going to do?
Which one are you going to buy?
You know, and that's where Ilook at it is if you can have
some connection with with andthen it brings in also all the
(24:27):
other people on top of that,they'll bring in their friends,
they'll bring in their.
Then you can get new customersa lot easier that way.
That's good.
Dr. William Attaway (24:40):
You know,
steve, you have to lead at a
higher level today than you didfive years ago in your business,
and that same thing is going tobe true five years from now.
How do you stay on top of yourgame?
How do you level up with thenew leadership skills that your
team and your clients and yourbusiness are going to need you
(25:01):
to have in the days ahead?
Steve Walsh (25:04):
Well, I think
that's the one thing I work off
of.
I always, you know, obviously,look at what am I doing in the
morning when I start.
But also, too, is who am Iusing for a coach?
Do I have a coach?
That's good, you know, I alwayslook at I don't care what I'm
involved in either health thingslike that, or business I always
(25:27):
try to find somebody that'sbetter than me and work with the
coach.
Coaches are.
You know people think, well, doI really need one?
You can't avoid.
I mean you can't afford not tohave one.
I mean it comes down to it,afford not to have one.
(25:48):
I mean it's it comes down to.
And so that's where for me tolevel up.
Every time I level up, I getprobably a higher end coach than
that before, and for me it's umintention how, what am I doing
right now?
That I needed improve down theroad, and that is that I needed
improve down the road, and thatis and it doesn't, and it's for
me personally.
I look at it as I look at, andentrepreneurs are a lot of ways.
(26:12):
The same is if I want to bebetter and if I want to see my
entrepreneurs that I'm workingwith be better, then I better
scale up, I better do the thingsthat I'm doing at a higher
level.
You know, yes, it's, it'samazing where you look at your.
(26:33):
I was looking with my uh, I havea a coach for for working out,
and he said to me one day hesaid, steve, if you want to
level up, you've got to changeyour eating habits, things like
that.
And he said that you had tothink of it so much more
intentionally now than everbefore.
(26:53):
And so he was that's good.
And so that's where it comesinto business too.
Same way.
Yeah, my business coach.
Same thing.
He is all about talking about.
Okay, if you want to get to thenext level, this is what we
need to do.
Dr. William Attaway (27:08):
That's so
good.
This is exactly why I've hadcoaches for decades in different
areas for different things,because I want to be intentional
in my growth and I love that.
That is your rhythm, that isyour habit.
I think that is why you havegone farther and have gotten
there faster than so many othersthat that is your rhythm, that
is your habit.
I think that is why you havegone farther and have gotten
there faster than so many others, because you have taken that
(27:30):
effort and that intentionality.
Steve Walsh (27:33):
Yeah, and I think I
think a lot of entrepreneurs
you know they.
They always look at costssometimes and I always say that
you know you can't not afford it.
You know that's the one thing,and that's where it comes down
to too is when they want toscale, a lot of times they're
afraid of bringing new people inbecause of that, that we can't
(27:55):
afford it.
But, quite frankly, if you tookyourself out of that, whatever
you're doing, and havingsomebody do that for you, guess
what?
You're all of a sudden you'rethinking about other things,
about how you scale your companyso much faster.
That's so true.
Dr. William Attaway (28:16):
You are in
a continual learning mode.
That is the posture that youlive in, and I'm curious is
there a book that has made a bigdifference in your journey that
you would recommend to theleaders who are listening?
Steve Walsh (28:28):
You know it's fun.
I think, personally, there's somany books that I've read that
I think of.
Yeah, I go back to.
Like Thinking Girl Rich is agood example.
That was probably one of thefirst, one of the ones that I
looked at and I go back topersonally, on spiritual level,
I go back to this Superior man.
(28:49):
There's a great book.
It's interesting.
Some of the books I've readhave gotten me to the next level
and some of the things I'vedone have gotten me to the next
level.
I did this retreat that it was a12-day.
You, you basically are up in themountains for those days
(29:10):
without any, any food, justwater, and without cell phone,
computer, all the stuff that youneed to get away from, and it
really opens you up to what arethe things that I'm that I'm
working on right now, that Ineed to be stepping up to, up to
.
The are the things that I'mthat I'm working on right now
that I need to be stepping up to, up to the next level.
It really gets you thinkingabout things that you probably
(29:33):
didn't think about beforebecause you're too distracted.
So those are the things that Ilook at, but the books I go to,
um, you know that's I would sayThink and Grow Rich.
You know, going after that onewould be the the first one I
that I've always started with,and then there's so many other
ones.
2.0, there's this book out.
(29:53):
That's really good books onprey drive, how to get you know
if you're comfortable, how youcan get your next level, and
that's what I would look at allthe time.
Dr. William Attaway (30:15):
So good,
steve.
This has been so helpful, Iknow, for so many of our
listeners, and I know they'regoing to want to stay connected
to you and continue to learnmore from you and about what
you're doing and check out yourbook.
What's the best way for them todo that?
Steve Walsh (30:32):
So the great way to
do that is go to Steve at Bison
Equity Group.
Just email me.
That'd be perfect.
I'm on LinkedIn.
You can go to LinkedIn, find methere.
Or Bison Equity Group.
Just go to our website and goto the and pick it.
We can pick up the book on ourwebsite also, and it's on Amazon
.
Dr. William Attaway (30:50):
We have it
on Amazon also, so we will have
all those links in the shownotes.
Yeah, great Steve.
Thank you for your generosityin sharing so much wisdom today
from your journey, and I can'twait to see what you do next.
Steve Walsh (31:04):
William thanks a
lot.
It's a lot of fun.