Karen C Baker, founder and CEO of KC Baker & Associates, is a single mother of two daughters, an entrepreneur, a public speaker, a talk show host, a financial broker, an educator, a cancer survivor and so much more. She has dedicated her life to making a difference in the world, using her incredible empathy to inspire others, take care of those around her, and bring light into the world. “Live! Love! Reset! God’s Plan: The Perfect Person to Get Cancer” is Karen’s first novel.
Please tell us a little bit about your company – what is KC Baker & Associates all about?
Education is the key to understanding how to build and how to create wealth.
I am an insurance broker. My firm’s financial services include but are not limited to college savings plans, tax-free retirement plans, 401k, IRA, 403B rollovers, pension plans, lifetime income plans, disability plans, mortgage protection, life insurance you don’t have to die to use, annuities, etc. I teach my clients how to get an awesome rate of return on their money with no possibility of losing any of their principal. Anything that has to do with financial planning and creating generational wealth, I do.
It is so important to get a financial analysis done on each main income earners in every household and every business owner or partnership, so they know their exact current and future financial needs. It all starts with being proactive and taking your destiny into your own hands, but I’m here to help and guide you through each step until you get to your desired goals. I am here to guide you towards your generational financial wealth goals.
Tell us a little bit about your background and how you started your company?
I had a business management consulting firm for 19 years, and insurance was a major part of the services I provided on a corporate and government level. When I lost my governmentclients due to the 9/11 attacks, I continued on with just the insurance brokerage portion of the business. I closed that portion of the business and had to lay off 19 employees who started with me as consultants. It was a sad day for me but I had to keep pressing on.
What are your plans, how do you plan to grow this company?
I plan to continue teaching, mentoring, participating in speaking engagements and assisting businesses, families and individuals with their financial wellness goals. My growth as an individual and expert in my field ultimately betters my company at large.
What was the biggest problem you encountered with your business and how did you overcome it?
My biggest problem I encountered with my business was educating the masses on how money works. People have generations of knowledge from family members and peers, so breaking those myths through education was a challenge. Approaching education with authenticity and transparency elicits more trust, and in turn, people can begin to open their minds to new ways of thinking about finance.
What were the top mistakes you made starting your business and what did you learn from it?
The learning curve is difficult in any new business. I’ve learned that having mentors who are successful in business to guide you through is the best way to mitigate mistakes along the learning journey.
How do you separate yourself from your competitors?
There is no competition. KC Baker and Associates offer products in the industry that help safeguard your money growing within the cash value within your policies: life insurance, retirement plans, emergency funds, college savings, etc. Personally, I have endured the adversity of a failed marriage, an accident, a major surgery and a cancer diagnosis, which ultimately gave me a greater purpose in my business endeavors. I help the clients of KC Baker and Associates as well as the readers of my book find hope in getting their financial house in order. At the end of the day, everyone just needs to start. You either start now so that you can plan to succeed or you do nothing and plan to fail due to no plan in place. I believe I can be that “start” for people.
What is one thing that you do daily to grow as an entrepreneur?
I work on bettering myself daily—both as a businesswoman and an individual. I reflect on how I can become a better mentor, a better teacher, a better Christian and a better mother. I have learned that people buy into you, not your product. They have to trust you. They have to know you care about them and their well-being, which requires some soul-searching and personal reflection.
What are three books or courses you recommend for new entrepreneurs?
- Rich Dad Poor Dad by Robert Kiyosaki
- The Psychology of Selling by Brian Tracey
- The Art of Non-Conformity by Chris Guillebeau
What is the one thing you wish you knew before starting your business?
Before starting my business, I wish I knew how to negotiate and close the deal. The art of negotiation and closing the deal is a learned skill that every salesperson and business owner needs to master. These are the key skills you will use in your business throughout life.
What has been your most effective marketing strategy to grow your business?
The most effective marketing strategy to promote business growth is transparency and showing you really care about the person sitting in front of you. Beyond being genuine in your work, having a social media presence and educational platforms as well as participating in speaking engagements, seminars and workshops are also great ways to help grow your business.
If you only had $1000 dollars to start a new business, knowing everything you know now, how would you spend it?
Marketing is the best area to spend money so that you can make that $1k turn into $100k.
What’s your best piece of advice for aspiring and new entrepreneurs?
Stay the course, no matter what. Through all the ups and downs, it takes time to have your dreams come true.
What is your favorite quote?
“There are no secrets to success. It is the result of preparation, hard work and learning from failure.”
– Colin Powell
“Success is not final; failure is not fatal: it is the courage to continue that counts.”
– Winston Churchill
How can we get in touch with you?
You can reach me via my website, kcbakerandassociates.com or by my office phone number: (866) 586-9522. KC Baker & Associates is based in Maryland.
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