Leadership is Caring for Others: Mike Victorson on Fostering Teamwork

The Leadership Project by DBH Consulting was developed to share stories of emerging and established insurance leaders thriving in the industry today. Hear from some of the most innovative and passionate executives transforming the insurance field.

DBH Consulting asked Mike Victorson CEO of M3 Insurance and Co-CEO of BrokerTech Ventures to share his leadership story. We asked him how insurance companies can nurture emerging talent, what influence means to him personally, and why the old adage—If you want something done right, do it yourself—doesn’t work in the C-suite. Read on to meet Mike.?

How did you get into the insurance industry??

It was a job—at least initially. Right after college, I was waitlisted for acceptance into law school. While I was waiting, I had time to think. I met the founder of M3, had some interviews, and he sold the dream to me of what an amazing industry insurance brokering can be. I started out with M3 and never looked back.?

At what point did you realize you wanted to pursue a leadership position?

I’ve always enjoyed leadership. I was the captain of the crossing guards when I was in sixth grade! But I think if people want a leadership role too much, they might not want it for the right reasons. In my case, it felt like leadership found me as much as I found it. Over time, the opportunities presented themselves—and I went with them.?

What do you wish you had known about being a CEO that you didn't when you took the job?

My toughest time as CEO was the first five years in the role. I remember thinking that if I just worked harder and did more, I would succeed. I was trying to do everything on my own.??

I wish I had known back then that going it alone doesn’t work. Teamwork is everything. When you do things alone, you might get lucky and get a few things right. But it’s not a long-term strategy. Things finally backed up on me and caused a major anxiety attack, the one and only time I’ve had one. That was a big learning moment. I learned to shift my approach after that.?

What advice do you have for emerging leaders in the insurance industry?

First, and related to what I just said, I would tell emerging leaders that your role is not to know all the answers, but to find the answers with your team. That’s key.?

Second, talent is far more valuable and important than strategy. If you can get good at identifying, onboarding, growing, and retaining talent, that's way more important than coming out of a retreat with some new strategy outlined.?

Third, I would tell new leaders that while the economics in this business are fairly hard to screw up, we shouldn’t take that for granted. It's a wonderful business, but have ongoing respect for the economics of what we do. Don’t let hubris creep in.?

How do you foster or nurture talent in your company?

We give emerging leaders time and patience. This is a hard business, and people entering the profession need time to learn it. We give people years—with an s on the end—to be successful. I’ve seen too many times where people cut the cord on folks who simply haven’t had enough time to find their footing yet. Patience is crucial.?

Giving people hands-on experience is also important. If you want to be a commissioned at-risk broker with responsibility for retaining clients and selling new business, the best way to learn that business is to sit at the trading desk for three or four years and do client management work. That’s going to make you a much better leader when you're running your own book of business. Because you have sat in that chair.

What values have helped guide your own evolution as a leader??

One is humility. My title is one of the least important things about me. What I want to model is linking arms with my team and going out to take care of people. I want to serve, and I'm going to work as hard as I possibly can as your CEO, because my teammates are a top priority and deserve to be treated the same as the best client of the agency.

Another value I believe strongly in is generosity. People see and experience generosity in a real, tangible way. When you know people are going through hardship, for example, and you get a chance to support them. Or when a team member makes a mistake, you support them in making it right with a client, even if it means that the organization has to spend some money to make it right. When people experience you taking your most valuable commodity—time—and spending it with them, that’s generosity. And it has to start from the top.?

How do you develop influence as a leader?

You develop influence, very simply, by showing up and caring. You show up in people's lives, and you give a damn. You care. People can tell that. People can sniff out insincerity.?

You don't have to be the smartest person in the room to wield influence. What you need to do is show up and care. Roll up your sleeves, and make the time to help someone on your team who’s struggling.?

I think if you're working very deliberately to “grow your influence,” you're never going to grow it. Influence is a byproduct, not a goal.??

What can CEOs in the industry do to help more well qualified women and other underrepresented people step into senior leadership positions??

In all corners of the industry, this conversation has been happening in a robust way for at least ten years now. It’s a complex challenge. One tactic that we're actively working on at M3 is to plan in ten-year quadrants, trying to build generational bands of leadership within our organization. What does our 40-something group look like? What does our 30-something group look like? We consistently try to build up every cohort, so that we have emerging leaders in each decade.??

I'd love to leave M3 in a place where every ten-year cohort has men and women and people from diverse ethnic backgrounds in it, so that we can have true leadership choices for the next generation.

Any additional words of wisdom for up-and-coming leaders in the industry???

Value your team. You know the old expression: If you want something done right, do it yourself. But that adage isn’t as helpful as we sometimes think. Because when it comes to leadership, especially the C-suite, the phrase really should be: If you want something done right, do it together.?

When you’re young, you’re very black and white; you’re very focused on results. But the more you live, the more you know that life's messy and complicated. If you have a colleague go through a divorce or lose a child, or struggle with an illness, or have a dysfunctional team member, you know that requires understanding on your part. It requires empathy and teamwork.

I'm regularly astounded by the incredible people we have on our team. Really talented people can go wherever they want to go, so the fact that some of these people have chosen to build their careers at M3 means a lot. I want to honor that with my very best every day. That’s what I’m striving to be.?

Note: This interview has been condensed and edited.

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DBH Consulting guides emerging leaders aiming for the role of the CEO, with a deep commitment to relationship building and to racial and gender equity. DBH envisions a future where diversity and inclusion flourish in C-suites across the industry.

If you're inspired to take the next step in your leadership journey, get in touch with Demmie Hicks , leadership consultant and master coach at DBH Consulting.

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Interviews by Vanessa Lowry

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