Priority life insurance group's CEO weighs in on establishing a perfect team
"How is your business structured?" speakers often ask this question from business leaders sitting in a conference hall.
This is a critical question to ask a business leader, mainly because a business structure is a roadmap to success. However, it's common for business leaders to forget that the true potential of an organization depends on the workforce.
Nick Ayala, the CEO of Priority Life Insurance Group, has always credited his company's success to professional relationships and teamwork. In an interview, he said, "I often use the analogy of a rowboat in strong tides to highlight the importance of solid professional relationships." He believes that working in teams with a common goal can take organizations to immeasurable heights.
Several business leaders claim that they look for people who think "out-of-the-box," but hardly anyone applies that realistically. Furthermore, creative and intelligent people with perseverance can indeed help companies advance to the next stage. Nonetheless, if leaders want to ensure that their innovative employees drive businesses, they must align their personal objectives with company goals.
With a strong team structure, Priority Life Insurance Group excelled during the uncertain days of COVID-19. It was reported that the company amassed $28 million in paid premiums in 2020. Of course, the pandemic played a vital role in increasing the importance of life insurance, but to score those numbers amid chaos makes everyone believe that Nick Ayala's approach can be just what the companies need.
In fact, in 2021, Priority Life Insurance Group's remarkable results led them to be acquired by the Integrity Marketing Group, an acclaimed marketing group and one of the leading insurance agencies in the country. The company acquired three companies in that same year besides Priority Life Insurance Group. Furthermore, Integrity Marketing is confident that they can reach heights that weren't possible after the Priority Life Insurance Group acquisition. Its CEO said, "You'll see us making a lot more deals like this over the next year."
Priority Life Insurance Group's acquisition with Integrity Marketing Group is a timely endeavor for them in today's business era. The company is on a roller coaster ride that's only going up. So, having an organization like Integrity Marketing Group is crucial for their growth. Furthermore, with Ayala's strong team structure, the company can grow exponentially, with him as the epicenter.
Another element that businesses seldom take care of is the meddling of ego in the workplace. To create a stable team-working environment, everyone has to let go of their egos, especially the leaders. Many business leaders couldn't excel in a working environment in a corporate world because their egos got the better of them. Perhaps, the most common one is the need always to be right or the sense of entitlement, which also wrecks team structures.
Ayala believes that knowing their role and purpose will eventually help businesses reach their destinations sooner. On the other hand, egos can be termed Achilles' heel for both the organization and the business owner. He says, "when egos take over, and everyone wants to take the helm, chaos ensues. Everyone ends up pulling in the wrong direction, and eventually, the boat capsizes, and everybody goes under."
For someone who works in an industry whose sole purpose is to empower and protect people, Ayala believes that the same approach should be adopted on the organizational level. In Nick's estimation, collaboration has always been an ideal way to work on any project, and it gives birth to ownership and harmony among employees who then serve the employer more diligently. In an interview, he said, "As a CEO, I have a huge responsibility toward the people who work with me and for me. I want them to be fulfilled with their work, stable in their financial situation, and empowered enough to believe they can come to me with anything."
Taking lead from how Nick Ayala and Priority Life Insurance Group are progressing in today's business arena, it's safe to say that "The world is their oyster." Furthermore, they are living examples of what companies can achieve if they value their workforce to drive business operations. And it's only the beginning. So, everyone has to wait and see what the future holds for them.
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