An interview with Maria Angelova
Stay True to Your Values: Leaders should always adhere to their core values and principles when making difficult decisions. This ensures that choices align with the organization’s mission and ethics.
As a leader, some things are just unavoidable. Being faced with hard choices is one of them. Leadership often entails making difficult decisions or hard choices between two apparently good paths. What’s the best way to go about this? Is there a “toolkit” or a skill set to help leaders sort out their feelings and make the best possible decisions? As part of our series about “How Leaders Make Difficult Decisions,” 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 your time! I know that you are a very busy person. Our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?
From a very young age, I have always been drawn to the world of business. The idea of creating something from scratch, finding opportunities, and making it profitable has always fascinated me. This innate entrepreneurial spirit has been a defining aspect of my life.
One of my earliest traits was the tendency to seek out deals and bargains. I have always been intrigued by the art of buying things at a low cost and then finding the right market to sell them for a profit. This early interest in trading and understanding the value of items laid the foundation for my future ventures.
Throughout my journey, I experimented with several business ideas. Some were successful, while others taught me valuable lessons. But what remained constant was my insatiable curiosity about profit margins. I had a keen interest in understanding how to maximize profits, whether through cost-cutting measures, strategic pricing, or identifying lucrative niches in the market.
It was during these explorations that I stumbled upon the insurance industry. I found the process of insurance to be relatively simple to duplicate, and it had the potential for a lucrative business model. The idea of providing financial protection to individuals and businesses while earning a stable income appealed to me greatly.
I delved deep into the world of insurance, understanding its nuances, and honing my skills in sales and customer service. Over time, I built a successful insurance business that not only provided me with financial security but also allowed me to help others protect their assets and loved ones.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful for who helped get you to where you are? Can you share a story?
Absolutely, success is often the result of collaboration and support from others. While there isn’t a specific individual I can attribute my success to, I’m immensely grateful for the collective support I’ve received from mentors, colleagues, and my team.
Throughout my journey, I’ve had the privilege of working with individuals who have generously shared their knowledge, provided guidance, and challenged me to grow. There have been mentors who’ve offered valuable insights, colleagues who’ve collaborated closely to achieve common goals, and team members whose dedication and hard work have contributed significantly to our achievements.
One particular story that stands out is when I faced a complex business challenge that required innovative thinking. I reached out to a mentor for advice, and their guidance helped me navigate the situation successfully. This experience highlighted the importance of having a network of supportive individuals who can offer expertise and different perspectives when needed.
In essence, my journey towards success has been shaped by the collective wisdom and support of a diverse group of people, and I’m truly grateful for their contributions to my growth and achievements.
Thank you for all that. Let’s now turn to the main focus of our discussion. Can you share with our readers a story from your own experience about how you lead your team during uncertain or difficult times?
During the COVID-19 pandemic, our organization faced unprecedented challenges that necessitated a swift shift in our strategies. To lead our team through these uncertain times, I prioritized open and transparent communication, holding regular meetings to keep everyone informed about the pandemic’s impact and our response strategy. Actively listening to team members’ concerns and ideas played a pivotal role in addressing specific issues and adapting our strategies accordingly.
We placed great emphasis on reassuring and supporting our team, emphasizing that we were in this together and prioritizing their well-being. Encouraging adaptability and innovation within the team became essential to respond to rapidly changing market dynamics. We empowered team members to propose creative solutions and adjust our products and services to meet evolving customer needs.
Maintaining a clear vision for the future was crucial, even amidst uncertainty. I stressed our long-term goals and how our actions during this period would contribute to our strength and resilience in the future. Leading by example, I remained resilient, positive, and demonstrated a strong work ethic, setting the tone for the entire organization.
Continuous monitoring and adjustment were key to our success. We implemented regular performance reviews and feedback sessions to monitor our progress and make necessary adaptations to our strategies. Ultimately, by focusing on transparent communication, support, adaptability, and a clear vision, we guided our team through the challenges posed by the pandemic, emerging stronger and more united. This experience underscored the importance of effective leadership during times of crisis and highlighted the resilience of a motivated and well-supported team.
Did you ever consider giving up? Where did you get the motivation to continue through challenges? What sustains your drive?
Yes, there have been moments when I considered giving up. What kept me going was my unwavering belief in the value of our services and the trust our clients had in us. Knowing that we were helping families secure their financial futures motivated me to persevere through the toughest times.
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?
Leadership often involves making challenging decisions where we must choose between two seemingly attractive opportunities. In such situations, it’s essential to adopt a strategic approach that considers every available opportunity. This process typically begins with a comprehensive assessment of both options, weighing the potential benefits and risks associated with each.
One of the key principles I adhere to is the belief that every opportunity should be given due consideration. This means conducting thorough research, seeking input from relevant stakeholders, and analyzing how each choice aligns with the organization’s mission and long-term objectives.
Additionally, it’s crucial to remain open to innovative solutions, even if they involve calculated risks. Sometimes, the most rewarding decisions arise from exploring unconventional paths or seizing opportunities that others might overlook. As a leader, I encourage a culture of creativity and adaptability within the team, fostering an environment where novel ideas are not dismissed without careful consideration.
Ultimately, the decision-making process should be guided by a commitment to the organization’s growth and success. It’s about finding the right balance between risk and reward, while always keeping the bigger picture in mind. Through this approach, leaders can make difficult decisions that maximize the potential for positive outcomes and help the organization thrive in a dynamic and ever-changing environment.
What process or toolset can a leader use to make a choice between two difficult paths?
When faced with two difficult paths, I rely on a decision-making framework that involves gathering data, consulting with key stakeholders, and weighing the pros and cons of each option. Additionally, I consider our core values and long-term goals to ensure the decision aligns with our company’s mission.
Do you have a mentor or someone you can turn to for support and advice? How does this help? When can a mentor be helpful? When is this not helpful?
I’m fortunate to have a mentor I can turn to for guidance. A mentor provides valuable perspective and helps me see different angles of a situation. They can be particularly helpful when dealing with complex decisions or personal growth. However, it’s essential to strike a balance and not solely rely on them, as ultimately, the leader must take ownership of their decisions.
What would you say is the most critical role of a leader when faced with a difficult decision?
The most critical role of a leader in difficult decisions is to provide a clear vision and direction. Leaders must communicate the rationale behind the decision and inspire confidence in their team. Creating a sense of purpose and unity is essential when facing uncertainty.
Do you ever look back at your decisions and wish you had done things differently? How can a leader remain positive and motivated despite past mistakes?
Yes, there have been moments when I wished I had made different choices. However, dwelling on past mistakes can be counterproductive. Instead, I focus on learning from those experiences and using them to improve future decision-making. It’s essential to maintain a positive mindset and view mistakes as opportunities for growth.
What is the best way to boost morale when the future seems uncertain? What can a leader do to inspire, motivate and engage their team during uncertaiun times?
To boost morale during uncertain times, a leader should foster a culture of resilience and adaptability. Encourage open communication, acknowledge small wins, and provide opportunities for professional development. Additionally, sharing a clear and inspiring vision of the future can instill hope and motivation in the team.
Can you share 3 or 4 of the most common mistakes you have seen other businesses or leaders make when faced with a hard decision? What should one keep in mind to avoid that?
One common mistake is delaying decisions due to fear of making the wrong choice. It’s crucial to act promptly with the best available information.
Ignoring the input of team members or stakeholders is another mistake. Involving others in the decision-making process can lead to more well-rounded choices.
Focusing solely on short-term gains at the expense of long-term sustainability is a pitfall to avoid.
Lastly, underestimating the importance of communication can lead to confusion and anxiety among team members.
Here is the primary question of our discussion. Based on your experience and success, what are the five most important things a leader should do when making difficult decisions? Please share a story or an example for each.
Stay True to Your Values: Leaders should always adhere to their core values and principles when making difficult decisions. This ensures that choices align with the organization’s mission and ethics.
Seek Diverse Input: Encourage collaboration and seek input from a variety of perspectives, including team members, experts, and stakeholders. Diverse viewpoints can lead to more well-rounded decisions.
Assess Risks Mindfully: Leaders should carefully evaluate the potential risks and rewards associated with a decision. It’s essential to take calculated risks while being prepared for contingencies.
Communicate Transparently: Maintain open and honest communication with all stakeholders. Clearly explain the rationale behind the decision, the expected outcomes, and how it aligns with the organization’s goals.
Learn and Adapt: Every decision, whether successful or not, provides an opportunity for learning and growth. Leaders should be open to adapting their strategies based on the outcomes and continuously improve decision-making processes.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“Success is not final, failure is not fatal: it is the courage to continue that counts.” — Winston Churchill
How can our readers further follow your work?
Stay connected with my insurance content and gain valuable insights by following me on various social media platforms. I understand the importance of staying informed and engaged in the ever-evolving world of insurance. That’s why I maintain an active presence on TikTok, Facebook, Instagram, Twitter, YouTube, and even host a podcast dedicated to insurance-related topics.
On TikTok, I share bite-sized motivational videos and other insurance related content.
Facebook, Instagram, and Twitter are where I provide regular updates, share insurance news, and engage in discussions with my followers.
YouTube serves as a hub for my in-depth video content, where I dive into various insurance topics in more detail. You can find comprehensive guides, tutorials, and interviews with industry experts, offering a wealth of knowledge.
And if you prefer to listen on the go, my insurance-focused podcast is the perfect choice.
Thank you so much for sharing these important insights. We wish you continued success and good health!
About The Interviewer: Maria Angelova, MBA is a disruptor, author, motivational speaker, body-mind expert, Pilates teacher and founder and CEO of Rebellious Intl. As a disruptor, Maria is on a mission to change the face of the wellness industry by shifting the self-care mindset for consumers and providers alike. As a mind-body coach, Maria’s superpower is alignment which helps clients create a strong body and a calm mind so they can live a life of freedom, happiness and fulfillment. Prior to founding Rebellious Intl, Maria was a Finance Director and a professional with 17+ years of progressive corporate experience in the Telecommunications, Finance, and Insurance industries. Born in Bulgaria, Maria moved to the United States in 1992. She graduated summa cum laude from both Georgia State University (MBA, Finance) and the University of Georgia (BBA, Finance). Maria’s favorite job is being a mom. Maria enjoys learning, coaching, creating authentic connections, working out, Latin dancing, traveling, and spending time with her tribe. To contact Maria, email her at angelova@rebellious-intl.com. To schedule a free consultation, click here.
David Price Of The Price Group On How Leaders Make Difficult Decisions was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.