The road to success takes commitment

THE WOODLANDS, Texas -- What would an entrepreneur, elected official, and decorated veteran share with future community and business leaders? Especially given that the individual is younger than many of his constituents. At 41 years of age, the resume of Richard “Gordy” Bunch is equal to, or greater than those retiring to rest on their laurels.

As founder, president, and CEO of The Woodlands Financial Group (TWFG), Bunch started his company in 2001 with just $10,000 in capital. Today TWFG has become the 15th largest Personal Lines business and one of the Top 100 privately-held agencies in the nation. Recently, The Woodlands Financial Group was appointed as an approved coverholder for Lloyd’s of London.

“Starting with just $10,000 of capital, it took a personal commitment in time and effort to get to this level,” said Gordy Bunch. “Most people don’t want to make that kind of commitment…working nights and weekends. To achieve success you have to go above and beyond what others in your line of work are doing."

Bunch’s original business model, combining both wholesale and retail products, allowed him to offer lower cost products during the recent economic downturn. This forward-thinking approach resulted in a 27 percent growth rate for TWFG, with a long-term plan to reach one billion dollars in sales. Bunch credits encouragement, empowerment, and state-of-the-art technology, with the company’s success during difficult times.

“Failure is not an option. You have to set goals and put forth the effort to reach those goals,” said Bunch.

Leveraging his business acumen and leadership skills, Bunch ran and was elected to The Woodlands Township Board at Position 1, to give back to the community that has contributed to his success. His vision for The Woodlands includes lowering taxes, managing growth, and expanding the amenities to include more parks and recreational facilities. Bunch is especially focused on cost reductions and leveraging economies of scale by reducing the outsourcing of many key functions and the hiring of consultants at considerable cost.

“Once the business developed competent administrative and management teams, that enabled me to be available to the community,” said Bunch. “When you reach a certain level of success, you can look around and say, ‘Where can I help?’ I’ve always been politically inclined, and I’m enjoying my Township involvement. I like collaborating with others and seeing the tangible effects of our efforts like the Bear Branch sports field and the running track which is almost done, accepting the responsibility of the Park and Ride, and lowering the tax rate. We just voted on that today.”

At the regularly scheduled Board meeting of The Woodlands Township Board of Directors, Thursday, August 22, the board voted to drop the tax rate less than 30 cents per $100 of taxable property value. The vote was unanimous to adopt the 2014 budget, and set the tax rate at 29.40 cents per $100 of taxable property value, which is 2.33 cents less than the current tax rate of 31.73 cents.

“I also want to be a part of the process of incorporation of The Woodlands. This will be on next year’s agenda,” said Bunch.

Depending on when it comes up for vote, to be involved in the decision-making process of incorporation may require another term in office for Bunch, the youngest board member.

“My term is up next November,” said Bunch. “I want to be a part of the think tank to work through the complicated issues of incorporation, so I’ll file for another term. There’s value in having continuity on long-term projects.”

Also serving on the board of The Woodlands Convention and Visitors Bureau, Bunch indicated that next year will be significant as The Woodlands celebrates its 40th anniversary.

“I’m having fun on the board of the CVB, planning the anniversary celebration on October 19,” said Bunch.

Bunch has also decided to move his national convention, usually hosted in Las Vegas each year, to The Woodlands. This convention brings in an estimated $1 million, which would benefit commerce and support local businesses.

Among Bunch’s other priorities are education, health and wellness, and service to the community.

A graduate of Lone Star College - Montgomery and Sam Houston State University, Bunch values and continues to be involved in higher education. Monday, August 19, the University of Houston-Downtown (UHD) appointed Bunch to its Insurance and Risk Management Center's Advisory Council, serving the UHD College of Business.

“What my industry does, has value. There are many benefits to what we do in providing protection for people,” said Bunch. "It’s one of the fastest growing businesses and it’s important to instill the right value system to succeed in this industry. I look forward to cultivating the next generation of insurance professionals. Live debt free, and spend less than you take in. If you can’t manage your own finances, you’re not suited for this career. Again, failure is not an option,” added Bunch.

Contributing to and serving the health community, Bunch has served on the board of the American Heart Association and participated in the MS-150 from Houston to Austin for eight years. He and his wife, Michelle, have supported the Fellowship of Christian Athletes and the Susan G. Komen Breast Cancer Foundation.

“To live a healthy lifestyle, stop watching TV,” stated Bunch. “My wife and I try to instill in our kids that a healthy lifestyle is not an option. Parents are responsible for helping their children make healthy choices with proper nutrition and activities like running and biking.

The Bunch family has resided in The Woodlands since 1995. They have three sons, Greg (13), Riley (8) and Jake, who will be seven next week. The family worships at The Woodlands United Methodist Church.

“I pray every day. I pray on the way to work to be given the wisdom to do the right thing,” said Bunch. “I feel like I’m in a good place…with my family, business-wise. I’m looking forward to the future, whatever it brings.”