Episode 74: Size DOES Matter in the Niche Dominated by This Agent

Welcome to the Unstoppable Profit Podcast. Wherever you are today, if you're starting with nothing or are well on your way to the success you desire, with the right people, processes and promotions in place, you will be unstoppable. And now I'd like to introduce your host, Mike Stromso. Greetings, everyone. This is Mike Stromco coming to you live from the Living Agency Laboratory. And I am excited and pumped to bring you the next episode in the Unstoppable Profit Podcast. It's been a lot of arm twisting and nudging and following up, but I finally have one of the highest unstoppable profit producers on the podcast today, and I can't wait to dig in and find out what's going on in her amazing, incredible entrepreneurial brain. Welcome to the podcast, Tony Shibuyama. Tony, how are you doing today?

Mike, thank you for inviting me. I'm doing fantastic today.

Fantastic. Well, I'll suggest that that's probably a daily occurrence for you, knowing what you and Brad have going on in your agency business. So let's get started right away. And to give our listeners just a little bit of a flavor of who you are and where you've come from, give us a couple of minutes. Who are you? If you want to go back as far as you want? How did you get started, the agency business, etc.

So my father started our firm about 65 years ago. So I literally grew up in the industry.

Filing, faxing, you name it, I did it. Had absolutely no interest whatsoever in getting into the industry. As I got older, got kicked around in corporate America, then saw the opportunity to join my father's firm about 20 years ago was one of the best decisions I've ever made. At the same time, joining the firm, I got married and moved all at the same time. So three of the most stressful things, Mike, we did it all at the same time and in doing so, fell in love with the industry. And, you know, I don't think little kids grow up and go, gosh, I want to be an insurance agent. But we had the unique situation of having a. An established firm with a reputation and a name. With my corporate background and coming in with my husband, we were able to, you know, I would say, take what was already created and then take it to that next level. And absolutely fell in love with the clients, fell in love with the industry, and with my background in corporate America, really kind of honed in on the level of risk management that goes hand in hand with insurance. And my ability to really help and engage clients and truly protect them. It was kind of a natural fit. And I'm just so blessed to, to have the opportunity to have the clients we have. But I truly, truly enjoy what I do day in and day out.

And you do it so well. I mean, you host webinars and you do risk management events consistently and you fill the room. I mean, it's just not a couple people. People come to learn what you have learned to help them run a safer, more risk free business environment. Right.

You know, after talking to underwriters and really understanding what they're looking for and then talking with companies and seeing what keeps them up at night, it was kind of the same story. And so when we go in, you know, we really, truly are education, education, help and help and educate and educate. And I was just talking to one client this morning and unfortunately they have a tragedy at one of their locations. And you know, he said to me, he goes, gosh, I'm so thankful to have you as a trusted friend and partner. And I remember going to all of your seminars and you constantly teach me and it builds that trust and that relationship. And he goes, I will never forget it. We've had him as a client for 15 years and we've grown together and he's actually going to be a testimonial for us for a couple of other opportunities. So our strength really is on the education side and eventually we will get them as clients. Mike. I mean, it takes a long time to develop those relationships. But I truly believe in our industry there are so many unknowns and we are so valuable to companies. Getting in by education for me had been very successful and also too, we're able to touch so many people and help.

Well, one of the things I admire about you and your agency so much is.

If you'll allow me to share your number of clients. Is that okay?

Absolutely, yeah.

I mean, you only have approximately 70 to 80 clients. However, a very respectable and healthy multi seven figure revenue agency. Yes, revenue. So doing great things, helping larger companies and larger companies. You don't just walk in and necessarily just execute the deal. It's a dating period and a courting period and more dating and everything that goes along with that, right?

Absolutely. It's, you know, you. A lot of corporations I deal with, you know, they look at us as a trusted advisor, like their bank, their attorney, their accountants. And so, you know, those opportunities, you know, when they land, they're huge. But it does take a long time to cultivate that. But it really is based on, I would Say effort, education. And once you become an expert and then they start calling you with questions, it plants the seed in their head and going, why isn't my broker giving me this information? Why am I going to this person when I have a near death accident or I have a waging hour issue or I have a claim in regards to medical insurance, After a while they start connecting the dots and almost firing the other agent without you even saying anything as well too.

Yeah, yeah. That is fantastic. And you lead with employee benefits most of the time. Your agency's made up of what, about 70% employee benefits, about 30% PNC, correct?

Yes. We were born and bred just to sell benefits. As we saw ACA coming to fruition, we said we should probably become a full service agency. And I will say this, that I mean the benefit side, it is, you know, the largest part of our revenue stream. What we have found that being that we're full service now, it's much easier for us to cross sell. And we've already established that relationship, as you call them. Acres of diamonds, right?

Yeah.

And so you're able to kind of tailor the messaging as well too. And a lot of people I think really do want that one stop shop, you know, where they can kind of say, hey, you know, I have situation and you handle all of our insurance. Can we strategize to see how this is going to impact the various policies I have with you? If I only have one policy, I'm only seeing it from one side. We're able to protect you on all these different areas. We can be a lot more strategic and so, yeah, I mean it. We love the fact that we are now full service. I think people appreciate that and I'm excited for the future in regards to all the opportunities we have with really just rounding out our accounts and you know, going through UPP has really helped me hone in, you know, our marketing efforts where before used to just kind of be all over the place, but to really see, okay, acres of diamonds here and then also to putting a program for our employees and just say, you know, as we're finishing up with that renewal on the benefit or finishing up on that renewal on the property liability. Why don't we just ask them? Because they're happy. They're happy, right?

That's right. Yeah.

We're having this anniversary. It does, it's the perfect opportunity to say, well, do you need help here? How's your level of service?

Are you going to be having an RFP for brokers for this piece of business? It's just a natural conversation. And because the fact that we learned that process from you, it's really helped us encourage our employees. Now they're saying, well, that was easy. And I go, yeah, and if we write the business, you know what, you're going to be compensated for that as well too. So it's really a win, win. And, you know, it was kind of one of those sleeper opportunities that it's like, duh, it's right in front of our face. But obviously, going through your sessions and talking with other agencies, it really solidified. Okay, this should be one of our top goals as it relates to growth.

And you've done it. And so proud of you. And you have multiple accounts in the hopper right now that are really, really close to closure. And so it's kind of come full circle and now you're ready to reap the benefits of all the work that you've done. Great job, very proud of you.

Yeah, it's been a long time. I look back at some of these and go, God, when did I meet you? And now we're kind of at that, you know, finish line. I always, I love having the, you know, call Mike if you need help. It's really given me a different perspective. You know, when you say, go big, go big, and I kind of go, well, I don't know, go big. That's resonated with me also to Mike, just the fact of our, you know, two days that we've had together with other agency owners too, the reinforcement of the confidence, know that you're going to get this. Know that you are it. Sometimes, you know, you can't really have those conversations with your spouse. You can't really have those conversations with your employees. And you know, at the top, it's very lonely. Right. And so having that during this time where, you know, literally nail biting situations and stuff like that, and having that team encouraging you and also, you know, being able to go, mike, okay, I think I've touched everything. What else do you think? Your lifeline calls have literally been a lifeline and I thank you for that. And I'm, I'm excited. We are going to get those darn big elephants. We work so. And we are the best solution for them. And, and those are. One of the things that I've learned from the group, from you, is I need to be, I need to know that I'm the best solution for them. If I don't believe that, then they're not going to believe that as well too. So I really, that's Been one of my biggest challenges and I think that's been one of the things that UPP has really helped me and saying, you know, we've got a good agency, how can we get even better as well too.

Right. And just so everybody knows, since we skipped right over it and you and I are both fire ready, aim kind of personality. So where are you located?

I am located in a little suburb called Rolling Hills Estates. We have the 15 minute rule, so you know, school, barber, church, they're all within 15 minutes. We are in LA proper, so what that means for us is that we have a ton of opportunity around us. But we were in downtown la for about 40 plus years all that time, but we're in LA proper. So many companies, so many opportunities and so I'm just super pumped and excited for the future. One is because, you know, the three P's, as simplistic as they are, I think as agency owners we get so deep in work, work, work, work, work. And sometimes we need simple, easy acronyms to kind of get us on track. And so the three P's have really, really helped me and really kind of say, okay, where do I want to take our agency? Let's be focused, let's stay on track and when in doubt, let's focus on the three P's.

That's right, that's right. And it's always one of them that's in play in any particular situation. And to follow up on something that you said, money follows trust. And, and so you've become so skilled and you were already very skilled anyway on making sure that people are aware of that now in many situations it's about asking great pointed questions, right. And then as we say, just shut up.

You know, those are a few things that I've learned with some of the calls with you all. And Eleanor is, is really the art of questioning and really truly understanding them and really trying to sell, solve some problems, help them and also too, I mean, that will come with time and it really is creating that trust. And you know, I'm excited for the future because, you know, when we do get new clients, my goal is to keep them for another 25, 30 years. So I know it takes time, I know we're cultivating that. But I love the fact that I have a game plan, I have the resources and I also have you and your team and the rest of our team to really be able to take the agencies to the next level and reinforce some of those really good behaviors like the listening and acres of diamonds and the three Ps and the big one right now too, I would say, is being accountable. Mike. I think we all put down goals and now it's being accountable. And you know, you and Joel are making me accountable throughout the year. So that way it's not November and we're going, what were we supposed to do for this year? So I really like the fact that, you know, it's exciting to put down what you're going to be doing for the year. But, you know, for now, in the future, it really is that accountability piece that is critical to our business.

Absolutely. And we couldn't be more proud and honored to have Joel McKinley on board, our director of AFY. So back to Tony. So you're in Rolling Hills states, California, which is in LA proper. Tons of opportunity. You've grown a very respectable agency. You've grown to the point where, you know, we believe that, you know, we attract exactly what we are and who we become. If you want to have more, you have to become more because we attract exactly who we are and what we've become. And you have become so much and it's starting to follow your way, if you will. But before we go there, you also have team members. So it's you and Brad, who are the agents, the entrepreneurs and how many team members do you have?

We have four full time support people and then we have a couple of contractors that help with the nitty gritty detailed of contracts and claims management as well too. We are so blessed and proud of our team because they understand the culture, the core values and they love our clients just as much as we love them.

That is awesome. And you've got it figured out also because you've got people, they're not all in the office, right. You've got people working strategically located actually around the country, right?

We do, you know, with the power of the Internet and wi fi and really just being in contact, you know, the. One of the things that I love are some of your ideas as it relates to motivating the team. You know, sometimes as agency owners we forget the most important people are our team.

They're our number one client. And you know, it's, you know, sometimes you have to go through the pain of losing some really good people to realize that. And we just had, before your, your call with you and we actually had a virtual lunch and you know, because we're not able to see each other at the copy machine, we have to shift and connect and how are you doing? How is virtual learning? And you, what are you doing for labor day. And so I have to make a really big effort and motivating my team, making sure I'm connecting with them. And then also too, I mean, we need to know what's going on, but I don't need to be cc'd on everything. And I don't need to micromanage as well too. So, you know, I would say that, you know, if I were to ask my team, where am I? Probably a B minus, but can I get better? Do I know where some of those little gaps are? I think so, but yeah, I mean, we have people around the country, we have some very senior people that used to work for the big houses and now they love the flexibility of doing contract work. And they're phenomenal as well too. I mean, having somebody with 35 years experience in something is priceless. And to be able to bring them in when needed has really been beneficial as we're going up against the behemoth. Right. Because we have same expertise. But we actually will talk to you, we will actually see you, we will actually hold your hand, which I think a lot of clients and a lot of companies are really asking, what are we getting for what we're paying for? And so that's where we kind of come in as that player of market dominance, but also to personalized care.

Yeah. And you are dominating in so many ways, but, you know, you're answering the question consistently and we've learned that together. Why should people do business with you over and above any and all other options that are available to them? And you answer the question. And you don't just disappear after you help them. You are an ongoing resource to help them grow their business. Because the law reciprocity is always in effect as we begin to move towards wrapping this up, because I know you have a very important appointment, you have become the authority, in my opinion. And recently and earlier this year you had an event that happened. One of your association groups or similar needed somebody to fill a speaking slot and they called you and said, tony, is there any way you can come down to Dallas and you know, share with the crowd your authority and expertise? And you did. And so share with us just, you know, a quick snippet of what happened there, where that's going to lead you in the future. And you have a book coming out, right?

I do, yeah. So, you know, my father had some pretty brand name recognizable country clubs and from that we've been able to spread board and really have more of a niche in private clubs. And, you know, people talk and we've Gotten a certain reputation as a niche expert and looking forward to, you know, increasing that. In the meantime, got called to be a speaker at the world conference and was able to meet a number of people from around the world. And. And that actually kind of solidified my stamp as far as kind of being an industry expert. And also too, we just received notice that we two educational topics have been accepted as well for the next year. Virtually or in person. Yeah. And so. And what I wanted to do is with my expertise on the insurance and risk management and more of the human element, if you're a new general manager, really taking a look at that human element as far as the risk and morale and culture and some best practices as well, too. So taking my 20 years of experience, my goal is anybody who's new coming to a country club, giving them my book and saying, good luck. Good luck. Here are some helpful tips for your new challenges. I would love to be part of your team. I would love to help protect you, if not now, maybe down the road. But here's that book. So I'm excited. You know, I'm now doing, I think, chapter 10 and 11, looking at different ways of what the book cover is going to look like, and it's really going to help me again, elevate my niche market again, an industry expert and open up those doors for opportunity.

Yeah. And what's coming through my mind is I hear you describe that again. So awesome. Congratulations on all your success. Now we need to create an automated funnel. So every time you hand out one of those books, we could put a buck slip inside the book, which would direct people to a unique URL, which would be an automated funnel to continue to help them even while you sleep or you're on vacation. How does that sound?

That sounds amazing. Something I never, ever, ever would have thought about. Thank you, Mike. Yeah, I'm excited because we could really take this in so many different directions and little pearls of wisdom are wonderful.

Well, they're going to keep coming and I can't wait to stand by your side as you continue to evolve. You and Brad are just doing incredible things. Thank you for sharing today and thank you for sharing in our recent Mastermind sessions. Your son Blake also joined us because I can see it in his eyes. He's like mama. He wants to learn more and he wants to become more. So thank you for sharing Blake with us as well.

Mike, it has been an absolute pleasure meeting your team, working with you and Andrea. Being a part of Leave no Regrets group, I just would encourage any agency owner that is looking to take their agenc you to the next level. You can't do it alone. You need support. You need industry experts like yourself, Mike. And I'm extremely pumped and excited for what the future brings. And thank you so much for your consistent guidance as well, too.

It's my honor and pleasure. And thank you for the kind words. I wasn't expecting those, but thank you for saying that, Tony. I'm going to let you get on to closing your next deal. Tony Shibiyama, SNK Financial, Rolling Hills Estates, California industry authority and leader in the private club industry. Thank you for sharing with the agents out there. And you know.

Just make a decision and take action. Right, Tony? That's all it takes.

That's all it takes. It seems easy but tough to execute, but absolutely, that's right.

So, Tony, you are making a difference. You are absolutely unstoppable. And I know that you will leave no regrets. Great luck. Thanks for joining us on the podcast.

Thank you so much for having me, Mike.

You're welcome. Take care.

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Be unstoppable and leave no regrets.