Life Lessons about Mentorship
CEO Susan L. Combs took a big leap of faith early in her career when she walked away from a position at a large insurance company to start her own brokerage firm, Combs & Company. She discusses her path to success and what helped her get where she is now, including the guidance from her late father—whose legacy she continues to honor through her book and nonprofit.
You launched your own company at twenty-six. What did that journey entail?
I was employed by the largest entertainment insurance brokerage in the United States. After a year of working with them, I was offered a contract to participate in their management-trainee program but wasn’t told what it would pay. The year before, I had only earned $24,000 working as an independent contractor, and employer-paid benefits weren’t included. I was only netting about $150 a month, so I was often in the red.
When I asked what my new contract would pay, I was told to just trust them. I replied that trust wouldn’t pay my bills, and we parted ways. Luckily, I already had a plan B in place to start my own firm. From day one, I had negotiated with the brokerage to own my book of business. This meant that when I walked out the door, I took all my clients with me—and instantly made twice as much money since I was no longer required to split my earnings with the house.
My company has continued to grow ever since, even celebrating its nineteenth anniversary in June of this year. Today, we offer all types of insurance, including life, health, property, and casualty. I also consult, such as on medical malpractice cases and workers’ compensation-related litigation, where I serve as an insurance-risk strategist and Affordable Care Act expert witness in forty-one states.
How would you advise someone starting their own company?
I’d say, “Don’t underestimate the loneliness factor.” When I formed my own business, I worked out of my studio apartment. After being used to a large, bustling office, it was a big change for me. I ended up getting myself a cat for company and making it a daily habit to attend a weekday support group meeting so I could connect with other people. As an entrepreneur, it’s important to find ways to structure your day and reach out to others, whether it’s simply going to the gym or meeting someone for a cup of coffee or a walk.
How essential is connecting with others and having mentors to building success?
It’s absolutely vital. I really value my peer mentors. At this point in my life, my closest friends are all professional women, and many are also in insurance. Every year, we get together for a conference or a girls’ weekend, which gives us a chance to share industry knowledge and talk about business goals, when we want to retire, and other mutual topics of interest. It’s incredibly valuable being able to bounce ideas off each other.
One of your mentors was your father, Major General Roger E. Combs, a veteran of the Vietnam War. What prompted you to write your book about him, Pancakes for Roger?
It was a cathartic exercise. When my dad died a few years ago, I threw myself into helping my family, so I didn’t get to fully benefit from the grief process; writing the book allowed me to truly grieve.
The premise arose from a request my father had when he was in hospice care and dying of Agent Orange-related throat cancer. I had moved from New York back to Missouri to help care for him. One morning, I found him at the dining table and asked him what he was doing. In his confused state, he said, “I want pancakes for breakfast.” That broke my heart—he had a feeding tube and was on oxygen, so it wasn’t a good idea. I heated up his feeding formula and brought it over to the table. He asked what it was, and I told him it was his syrup. He smiled.
He passed away a few weeks later on August 22, 2018. After his death, I took a day off from work and, at my husband’s urging, went out for pancakes. He snapped a picture of me eating them, and I posted it on social media asking people to enjoy some pancakes for Roger. I received several photos in return; I never expected it to resonate so much.
A year later, I started a fundraising effort using the hashtag #PancakesForRoger. For every pancake photo received, my company donated to the University of Missouri School of Law Veterans Clinic in my father’s name. We host it every February now. The first year, we got about 150 photos; this year, we received 857 from all fifty states and Washington, DC, along with twenty-nine additional countries on all seven continents. As a result, we gave $10,142 to the clinic, almost double what we previously donated. The money helps provide free legal services to veterans and their families.
Your book is filled with your dad’s advice. Which do you treasure most from him?
My father taught me an incredible number of valuable lessons, but I’ll share one that resonated with me early on. I graduated from college in 2001 during a terrific job market and had several offers on the East Coast. My dad accompanied me on the trip, during which he spoke to me about the three core facets of life: the person you’re with, your work, and where you live. He explained that if you’re happy with all three, you’re living a golden life. Even if you’re content with just two of them, you’re doing fairly well. But if you only like one aspect or none, it’s up to you to fix it. I’ve always taken that message to heart.
What are your plans for the nonprofit company you formed in honor of your dad, Pancakes for Roger, LLC?
In 2025, I want to start giving grants to veterans. Our mission is to unite them with funding opportunities to enable them to help others. For example, if a veteran is a youth baseball coach and needs equipment, we can give them $1,000 to buy what they need for the kids. Or if there’s a veteran whose vehicle is in the shop and they can’t get to their job because they can’t afford to fix it, we can assist them. Eventually, I want to create a Shark Tank for veterans to help them start their own businesses. We will also continue the #PancakesForRoger photo campaign, donating to the Veterans Clinic for every picture posted—it’s fun, and everyone looks forward to it.
For more info, visit pancakesforroger.org