In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Donald Shampine, President of Michigan Insurance Group. They discuss the importance of knowledge and education in the sales process, the challenges of starting and running an agency, and the benefits of being involved in industry associations.

Episode Highlights:

Don shares his journey of how he entered the insurance industry, established his own agency, and the lessons he learned along the way. (3:05)

Don discusses the significance of having a deep understanding of the insurance industry, the role of continued education and certifications, and the importance of not pretending to know more than you do. (6:18)

Don believes that people learn differently and approach each thing differently, so it's important to understand the policy rather than memorize it. (12:26)

David mentions the value of including staff in financial discussions and decision-making activities to equip them for the practicalities of operating an agency. (19:33)

Don explains that establishing niches and mastering the industry are crucial for success in a competitive market, differentiating you from other agents by asking appropriate questions and establishing expectations with your insured clients. (34:53)

Don discusses his engagement with the Big I, his role as the most recent past President of the Michigan chapter, and his initiatives to energize the annual convention. (43:13)

Don encourages people to actively participate in the industry, gain knowledge from others, and share valuable insights to improve both the agency and the industry as a whole. (56:05)

Tweetable Quotes:

“If they don't ask all these questions that you already established, the normal questions to ask in the industry, you're setting yourself apart and setting an expectation with your insured, which I think is critical to be successful when the market changes like this.” - Donald Shampine

“I do recognize that I've been fortunate to be in an industry that's allowed me some, you know, some decent success, and I'd like to pay that forward to as many people as possible.” - Donald Shampine

Resources Mentioned:

Donald Shampine LinkedIn

Michigan Insurance Group

David Carothers

Kyle Houck

Florida Risk Partners

The Extra 2 Minutes