Maintaining The Hustle with Todd Thams
In this episode, Aaron Gordon sits down with Todd Thams, an insurance industry veteran who recently transitioned from running a family insurance business to launching ModAdvisor, a tech-focused start-up. Todd discusses his journey, including the...
In this episode, Aaron Gordon sits down with Todd Thams, an insurance industry veteran who recently transitioned from running a family insurance business to launching ModAdvisor, a tech-focused start-up. Todd discusses his journey, including the challenges and rewards of making such a significant career pivot. He shares insights on the importance of hard work, resilience, and surrounding oneself with the right people. Todd also reflects on how his family's entrepreneurial spirit has influenced his approach to business. Whether you’re interested in the insurance industry, start-up life, or personal development, Todd’s story is both inspiring and instructive. Tune in for valuable lessons on navigating career transitions and maintaining the hustle no matter where you are in your professional journey.
Get To Know Todd Thames
Todd Thams is a seasoned Workers' Compensation expert and the founder of Mod Advisor, bringing over 20 years of insurance brokerage experience, primarily in commercial insurance. Having served as both a producer and agency owner, he established Mod Advisor in 2020 to analyze and report on workers' compensation experience modification data. The software developed by Mod Advisor aids insurance agents in prospecting and retaining clients by providing detailed reports on claim cost impact, validating experience mods, and forecasting future scenarios. Todd’s mission is to enhance transparency in the insurance industry, simplify the workers' compensation experience, and ultimately save businesses money while promoting safer work environments. Outside of his professional pursuits, he enjoys boating, cycling, golfing, reading, and indulging in craft beer, fine wine, great food, and enjoyable times with friends.
3 Episode Key Takeaways
Embrace Change and Pivot Wisely: Todd shared his experience of leaving a comfortable position within his family's insurance business to start ModAdvisor. His story emphasizes that it's never too late to find new opportunities and shift gears if you're driven by passion and see a gap in the market.
Surround Yourself with Supportive People: One of the highlights of our conversation was Todd's acknowledgment of the incredible support he received from colleagues, family, and mentors throughout his startup journey. Building a reliable network can make a noticeable difference in your professional path.
Define and Focus Your Hustle: Todd and his wife recently reassessed their life goals to ensure they were heading in the right direction. This strategic planning allowed them to channel their hustle effectively. It's crucial to periodically revisit and redefine your goals to stay aligned with your purpose.
Show Overview:
01:15 Career Evolution and Industry Pivot
03:30 "Challenges of Small-Town Business"
07:39 Joyful Hustling in Insurance Industry
12:32 Father's Sales Setup Insight
15:05 Frustration with Outdated Insurance Tech
19:14 Challenges in Fundraising for ModAdvisor
22:49 Goal Planning for Life Direction
24:38 Busy Lives of Entrepreneurs