How Insurance Can Solve Racial Income Inequality | Interview With Dr. Billy Williams

Matt: Today we have Dr. Billy Williams, who is considered one of America’s best insurance agents and small business coaching and mentoring company. And we are going to talk about a lot of issues today, so thank you for doing this.

Billy: Let’s do it, my man! This industry has given me more than I ever thought I would possibly have in life. So, let’s talk about it. Your audience needs to know that insurance is a vehicle that can take them wherever they want to go.

Matt: So, how did you come across the insurance industry?

Billy: For me, it was planned. I knew I wanted to get into insurance after 14 years into the military. At that point, I was working on my Master’s degree in finance. When I started my work for my degree, I started looking at the different avenues and I realized that the one thread that ran through everything was insurance. So, you could have a billion-dollar business but if there was no insurance to protect it, it wasn’t gonna last.

So, I already had that mindset and then my neighbor told me that I needed to look at the insurance industry as I was about to get out of the military.

Matt: There has been a lot of talk about racial income inequality or racial wealth inequality. There is a gap, right? You’ve obviously created your own wealth, not as an employee but by becoming an entrepreneur.

Billy: Yeah, I never had a job. I tell everyone that I never had a job. It was never my mindset. So, when we talk about racial inequality, it starts with our mindset first. But our mindset is a product of what we’re exposed to. The key to all of this is exposure. Well, a lot of people say “education”. Well, there are a lot of educated fools out there. You can be book smart but that doesn’t necessarily mean you’re world smart. So, you need exposure.

If I expose you to something better, then you can take action to change your mindset. So, our inequality is based on exposure. So, what I do, what you do, what other people do, is we expose people to opportunities, and those who appreciate this exposure will take advantage of it and those who want to live in hopelessness, they won’t!

Usually, it stems from helplessness and hopelessness. These usually lead to frustration which in turn leads to anger. When you’re angry for a sustained amount of time, it turns into depression. And this turns into violence. So, if you want to solve racial inequality, you have to expose people to things that no longer make them feel hopeless or helpless. When people immigrate to this country, they come with an expectation and not hopelessness. So, our job is to take people from the latter to the former.