Ep. 103: Patrick Bet-David: How An Insurance Pro Prepares For The Next Market Crash

Patrick Bet-David is an entrepreneur and the Founder & CEO of The PHP Agency, the fastest growing financial services company in the United States. The goal of his company is to innovate the culture and diversity of the insurance industry and open new entrepreneurial opportunities to individuals throughout the United States. Patrick has extensive experience as a financial advisor, business coach, public speaker, and YouTube creator. In this episode, Patrick shares his thoughts on the current economic trends and how the next few months will determine how severe the next crash will be. He shares what his life was like before he became an entrepreneur, specifically the time when he escaped war-torn Iran, and how he got his first experience as an entrepreneur in Germany at the age of 10 years old. He also discusses the five stages of being an entrepreneur and how business owners can protect their company as well as shares his thoughts on what he believes will happen after Trump’s presidency ends. “Most people put so much emphasis in areas that help the company grow linear and not exponential.”  - Patrick Bet-David Today on Spot On Insurance: Patrick's life in Iraq and how he overcame the challenges he faced on his way to success. How he accidentally avoided the 9/11 attack. The challenges their agency faced during the first few years. The five stages of being an entrepreneur. Historical market trends, statistics, bull runs, and crashes. Stoicism and how it can help entrepreneurs protect their businesses. How politics, minorities, and Millennials factor in the success of the insurance industry. Key Takeaways: There's a 90% turnover ratio to any commission-based profession. Every five years we have a small crisis. Every ten years we have a massive crisis. The government doesn’t understand the power of minorities and immigrants. Connect with Patrick Bet-David: The PHP Agency Valuetainment YouTube Channel Valuetainment Vault Conference This episode was brought to you by….. Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com. Connect, Learn, Share Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!