David Price of The Price Group: Five Things I Wish Someone Told Me Before I Became A CEO

An Interview With Doug Noll

As the CEO its like being the father of a huge family. We bring on over 250 new insurance agents every single month and they all have needs, expectations and different personalities that you need to learn fast.

As a part of our series called ‘Five Things I Wish Someone Told Me Before I Became A CEO’ we had the pleasure of interviewing David Price.

David Price is the CEO and Founder of The Price Group — one of the fastest-growing agencies in the insurance industry. He entered the industry in 2018 with a strong focus on Final Expense Life Insurance. David became the fastest millionaire in the industry depositing over a million dollars in his bank account within 36 months of getting his insurance license and making over 1 million a year in his 4th full year as a licensed agent. He has created a simple and effective system that has enabled many people to achieve multi-six-figure incomes from the comfort of their own homes. David firmly believes that anyone, regardless of their profession or skill level, can obtain a license and create a 6-figure income with hard work. As the owner of the fastest-growing agency in the industry with Senior Life Insurance Company, David has personally mentored some of the most accomplished sales agents in the country. His unwavering commitment to helping others achieve success has earned him a reputation as a leader in the insurance industry.

Thank you so much for joining us in this interview series! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?

Since a very young age, I’ve been captivated by the world of business. The concept of building something from scratch, identifying opportunities, and turning them into profitable ventures has always held a profound allure for me. This inherent entrepreneurial drive has played a central role in shaping my life.

From an early stage, I had a natural inclination to seek out deals and bargains. The art of acquiring items at low costs and then strategically selling them for a profit fascinated me. This initial interest in trading and understanding the value of goods laid the groundwork for my future endeavors.

As I progressed on my journey, I explored various business ideas, some of which proved successful, while others taught me valuable lessons. Yet, my insatiable curiosity about profit margins remained a constant driving force. I was deeply intrigued by the ways to optimize profits, whether through cost-cutting measures, strategic pricing, or identifying lucrative market niches.

During these explorations, I came across the insurance industry. I found that the insurance process was relatively straightforward to replicate, offering a promising business model. The notion of providing financial security to individuals and businesses while earning a stable income appealed to me immensely.

I delved into the intricacies of insurance, mastering the nuances, and refining my skills in sales and customer service. Over time, I successfully built an insurance business that not only provided financial stability but also allowed me to assist others in safeguarding their assets and loved ones.

Can you share the most interesting story that happened to you since you began leading your company?

Since leading my company in the insurance industry, the past five years have been incredible. My determination to overcome challenges, adapt, and learn played a vital role in my success. One standout moment was when we embraced technological advancements, reshaped our approach, and improved the customer experience. This transformation strengthened our position in the industry and inspired our team. I’m thrilled with where I am now and excited to keep leading with determination and innovation.

Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?

When I initially entered the sales industry, I possessed a somewhat overconfident outlook, convinced that I could effortlessly close deals with every individual I encountered. However, reality quickly proved otherwise.

Rather than persisting in the belief that I could close every prospect, I adopted a new approach centered around understanding the unique needs and preferences of potential clients. I prioritized developing my listening skills and recognized the significance of tailoring my pitch to address their specific concerns.

Furthermore, I embraced the importance of not taking rejection personally. In the sales world, facing rejection is a natural part of the process, and I understood the necessity of learning from these experiences and moving forward. Rather than dwelling on unsuccessful attempts, I transformed them into opportunities for personal growth and improvement.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

My Mother has been the cornerstone of my achievements, laying the foundation of success through trust and honesty. Throughout my life, she has been a constant source of guidance and support, encouraging me to be honest with myself and others. Her unwavering honesty with people has left a profound impact on how I approach life and my interactions with others.

My mother’s impact on my character and decision-making extended beyond that pivotal moment. Her consistent honesty with people, whether in her personal relationships or professional endeavors, taught me the value of being sincere and transparent in all my interactions. These qualities have not only helped me build strong and genuine relationships but also earned me the trust of colleagues, friends, and mentors.

As I reflect on my journey to where I am today, I owe much of my success to my mother’s unwavering commitment to trust and honesty. Her guiding influence has not only shaped my approach to life but also serves as a reminder that none of us can achieve success alone. Gratitude fills my heart for having such a remarkable person in my life, and I’m forever thankful for the wisdom and values she imparted, allowing me to thrive on a path built on trust, honesty, and genuine connections with others.

Leadership often entails making difficult decisions or hard choices between two apparently good paths. Can you share a story with us about a hard decision or choice you had to make as a leader?

As a leader, I have faced situations where making difficult decisions between two seemingly good paths was necessary. Throughout my journey, I’ve learned that the best people to have on my team are often the most ethical individuals. Therefore, when confronted with tough choices, I always prioritize principles before production, ensuring that I never lower my character for monetary gain.

By consistently choosing to work with the most ethical individuals and emphasizing principles above production, we were able to foster a positive work environment and establish a reputation for trustworthiness and reliability. As a leader, this experience has taught me that maintaining a team of principled individuals ultimately leads to long-term success and sustainable growth.

Ok, thank you for that. Let’s now jump to the primary focus of our interview. Most of our readers — in fact, most people — think they have a pretty good idea of what a CEO or executive does. But in just a few words can you explain what an executive does that is different from the responsibilities of the other leaders?

In a few words, what sets an executive apart from other leaders is their ability to oversee and ensure the cohesive functioning of all parts of the company. Executives have the responsibility to see the bigger picture and make sure that everything within the organization is working harmoniously as a unified unit.

What are the “myths” that you would like to dispel about being a CEO or executive? Can you explain what you mean?

One of the prevailing myths about being a CEO or executive is that they don’t do much or don’t put in much time. This misconception often stems from the assumption that top leaders delegate all their responsibilities and have ample free time. However, the reality is quite different.

In truth, being a CEO or executive is an extremely demanding and time-consuming role. These leaders must constantly juggle numerous tasks and responsibilities, ranging from strategic decision-making to ensuring smooth operations across the organization. They are responsible for setting the company’s vision, defining its mission, and charting a course for long-term success. This level of responsibility demands significant dedication, commitment, and long working hours.

CEOs and executives are often required to be involved in various meetings, both internal and external, to drive the company’s growth and address challenges. Additionally, they must stay informed about industry trends, market changes, and competitor movements to make informed decisions.

What is the most striking difference between your actual job and how you thought the job would be?

In reality, being in this position has led me to work even more than I anticipated. As a leader, there are countless responsibilities and tasks that demand my attention, and I find myself constantly engaged in various aspects of the organization. While I do enjoy a certain level of freedom in making critical decisions, it also means that I carry a weight of responsibility for the company’s success and the well-being of my team.

While the job is undoubtedly fulfilling and allows me to follow my passion, it’s not without its challenges. I have come to realize that even though I genuinely enjoy what I do, it’s still work. It requires dedication, perseverance, and the ability to navigate through tough situations. There are days when it can be mentally and emotionally demanding, but the rewards of witnessing progress and growth within the organization make it all worthwhile.

Do you think everyone is cut out to be an executive? In your opinion, which specific traits increase the likelihood that a person will be a successful executive and what type of person should avoid aspiring to be an executive? Can you explain what you mean?

The role of an executive is a demanding and multifaceted one, and not everyone may be naturally suited to take on such a position. In my opinion, certain specific traits increase the likelihood of a person becoming a successful executive, while others may find this role unsuitable for their strengths and preferences.

One of the key traits that contribute to executive success is flexibility. Executives often face rapidly changing situations, unexpected challenges, and shifting market conditions. They must adapt quickly and make decisions in the face of uncertainty. Flexibility allows them to navigate through complexity and find innovative solutions to problems.

Additionally, successful executives possess excellent interpersonal skills, enabling them to deal with all different types of people effectively. They interact with employees, clients, investors, and other stakeholders, each with unique personalities and needs. Strong communication and empathy facilitate productive relationships, foster collaboration, and build a cohesive team.

Another vital trait for a successful executive is the ability to handle pressure gracefully. Executives often work in high-pressure environments, making critical decisions that impact the entire organization. The capacity to remain composed and make sound judgments under stress is crucial to lead effectively and inspire confidence in their team.

What advice would you give to other business leaders to help create a fantastic work culture? Can you share a story or an example?

The advice I would give to other business leaders to help create a fantastic work culture is to prioritize honesty and transparency with their people. Building a culture of trust and open communication lays the foundation for a thriving and engaged workforce.

There is power of honesty and transparency in building a fantastic work culture. When leaders communicate openly and authentically, it fosters a sense of trust, camaraderie, and shared purpose among the team. Transparency not only boosts employee morale and engagement but also allows the organization to navigate challenges more effectively, as everyone is working together toward a common goal.

Therefore, my advice to other business leaders is to prioritize honest and transparent communication with their people. By doing so, they can create a work culture that empowers their employees, builds strong relationships, and drives long-term success for the company.

How have you used your success to make the world a better place?

Using my success and resources, I have dedicated myself to empowering and supporting single moms who aspire to work from home and find online job opportunities. I understand the challenges they face in juggling parenthood, financial responsibilities, and the desire for a fulfilling career.

Fantastic. Here is the primary question of our interview. What are your “Five Things I Wish Someone Told Me Before I Became A CEO” and why?

1. As the CEO its like being the father of a huge family. We bring on over 250 new insurance agents every single month and they all have needs, expectations and different personalities that you need to learn fast.

2. As the CEO people are going to watch what you do more that what you say. So make sure your words and actions always line up at any cost.

3. As a CEO people jobs are going to depending on your decisions. I can’t let me ego or pride effect my employees jobs

4. As a CEO you want to make sure you employees enjoy there job. You aren’t the only one offering employment and if you want to keep good people you need to make sure you take care of them.

5. Lastly a CEO can be the most rewarding thing you do. I get to build a company. I look at it as a really cool hobby that pays me very well. Some people like to restore old cars and I like to build companies.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good for the greatest number of people, what would that be? You never know what your idea can trigger.

If I were to initiate a movement aimed at bringing significant positive impact to as many people as possible, it would be called the “Gifts of Hope: Empowering Children Worldwide” movement. This movement would focus on providing comprehensive support, care, and educational opportunities to underprivileged children worldwide, with a special emphasis on uplifting their spirits during the Christmas season.

Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?

One of my favorite life lesson quotes is by Winston Churchill: “Success is not final, failure is not fatal: It is the courage to continue that counts.”

This quote has been highly relevant in my life, reminding me of the importance of resilience and perseverance. Throughout my journey, I’ve encountered both successes and failures, but this quote serves as a constant reminder that neither defines my ultimate path.

During moments of achievement, I’ve learned not to become complacent, understanding that success is merely a stepping stone on the path to greater things. It has encouraged me to stay humble, keep learning, and continuously seek improvement.

We are very blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch with, and why? He or she might just see this if we tag them

If given the extraordinary opportunity to have a private breakfast or lunch with someone in the world, my top choice would undoubtedly be Elon Musk. As a visionary entrepreneur and innovator, Elon Musk has reshaped multiple industries, and his relentless pursuit of ambitious projects has garnered admiration worldwide.

Having the chance to sit down with Elon Musk and gain insight into his day-to-day life would be an absolute privilege. His ability to lead multiple groundbreaking companies simultaneously, such as Tesla, SpaceX, Neuralink, and The Boring Company, is awe-inspiring. I would love to understand the intricacies of how he manages his time, the methods he employs to prioritize tasks, and how he navigates through the demanding challenges of each venture.

Observing what Elon Musk does would be an unparalleled learning experience. His unique approach to problem-solving and his fearless attitude towards taking risks have resulted in game-changing achievements. From pushing the boundaries of space exploration to revolutionizing sustainable transportation, his impact on the world is undeniable.

Thank you for these fantastic insights. We greatly appreciate the time you spent on this.

About the Interviewer: Douglas E. Noll, JD, MA was born nearly blind, crippled with club feet, partially deaf, and left-handed. He overcame all of these obstacles to become a successful civil trial lawyer. In 2000, he abandoned his law practice to become a peacemaker. His calling is to serve humanity, and he executes his calling at many levels. He is an award-winning author, teacher, and trainer. He is a highly experienced mediator. Doug’s work carries him from international work to helping people resolve deep interpersonal and ideological conflicts. Doug teaches his innovative de-escalation skill that calms any angry person in 90 seconds or less. With Laurel Kaufer, Doug founded Prison of Peace in 2009. The Prison of Peace project trains life and long terms incarcerated people to be powerful peacemakers and mediators. He has been deeply moved by inmates who have learned and applied deep, empathic listening skills, leadership skills, and problem-solving skills to reduce violence in their prison communities. Their dedication to learning, improving, and serving their communities motivates him to expand the principles of Prison of Peace so that every human wanting to learn the skills of peace may do so. Doug’s awards include California Lawyer Magazine Lawyer of the Year, Best Lawyers in America Lawyer of the Year, Purpose Prize Fellow, International Academy of Mediators Syd Leezak Award of Excellence, National Academy of Distinguished Neutrals Neutral of the Year. His four books have won a number of awards and commendations. Doug’s podcast, Listen With Leaders, is now accepting guests. Click on this link to learn more and apply.