A development consultant describes what it takes to be a successful entrepreneur.
Kiplinger’s spoke with Karen Baetzel, an Arlington, Tenn.-based leadership development consultant, about what led her to entrepreneurship after a successful career as a Navy pilot. Read on for an excerpt from our interview:
What exactly do you do?
I teach and speak about leadership development and consult with clients in the corporate, government and nonprofit worlds. My clients have included Microsoft, Domino Sugar, AmeriCorps and the departments of Defense and State.
You were a career Navy pilot?
I retired as a captain in 2008 after 16 years of active duty and 14 years in the reserves while I was raising my two children. I qualified to fly helicopters and propeller and jet aircraft.
What inspired your second act?
I did a lot of community and nonprofit work while I was raising my family, and I realized that the civilian world was desperate for the management, leadership and “followership” principles that I had spent 30 years learning. That is, in the military, we’re groomed to lead but expected to follow, too, and we’re taught how.
Why is BattleAxe your brand?
As I became more senior and in charge of training initiatives, my colleagues called me, with great reverence, the Old BattleAxe — meaning an older (check), married (check), protective (check), sharp-tongued woman (check). I didn’t see anything about that description I didn’t love, so I embraced it. My motto is “Sharpening leaders.”
What lessons do you teach?
People come to me and say, “I want to develop more confidence.” I say, “Stop trying to develop confidence and work on developing competence.” Confidence is a lagging indicator of competence. Get good and you will feel good. There’s no hack to this.
How did you launch the business?
I knew I wanted to build a solo practice with complete control over my time, travel and client list. I took a job as a subcontractor for a couple of years, read a lot of books and joined Toastmasters to refine my speaking ability and presentation. I also joined a speakers bureau, Women Veteran Speakers. I spent between $15,000 and $20,000, which included the cost of my website, promotional materials, 21st-century equipment to replace my old PC and dial-up modem, and a business coach.
I built a horrible website and a terrible one-page promotional fact sheet to market myself. Then I hired a marketing and graphic design firm, which took my money and didn’t do a good job. What I needed was a competent coach with a proven track record who knew my business. Once I hired the right one, he helped me improve my marketing materials and price myself properly.
You were charging too little?
Yes. My coach said, “Are you crazy? People with far fewer credentials than you are making 10 times what you’re charging.” Now I charge $5,500 for a one-hour keynote speech. But I also do pro bono work for veterans’ groups.
Do you foresee a third act?
My husband, Bernie, and I were just blessed with our first grandchild. I want to be an exceptional, if not extraordinary, matriarch.
This article was written by Pat Mertz Esswein, Kiplinger’s Personal Finance and Associate Editor from Kiplinger and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to email@example.com. Santander Bank does not provide business, tax or legal advice and the information contained in this article does not constitute business, tax or legal advice. Santander Bank does not make any claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in this article. Readers should consult their own attorneys or other tax advisors regarding any financial or tax strategies mentioned in this article. These materials are for informational purposes only and do not necessarily reflect the views or endorsement of Santander Bank.
This article is intended for informational purposes only. Readers should consult their own financial advisers, attorneys or other tax advisors regarding any financial or tax strategies mentioned in this article.
Equal Housing Lender. Santander Bank, N.A. is a Member FDIC and a wholly owned subsidiary of Banco Santander, S.A. ©2017 Santander Bank, N.A. All rights reserved. Santander, Santander Bank, and the Flame Logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners.