7 Steps to Launching a Business with Phillip Ramsey and Bryan Dewhurst

Episode 48:

When it comes to launching a business, we wish we knew then what we know now! We are like many, many business owners in that respect. So we wanted to share some steps, a checklist if you will, for launching a business the right way.

Because thankfully we’ve learned a few things in the past 7 years in business together. In our latest episode, we’ll take you through the ins and outs of launching a business, from deciding on a name to finding the right accounting software and support people.

There are huge rewards in owning a business. It is the most powerful source of residual income because there are so many ways to leverage the wealth that you build as you grow a business.

But too often businesses fail because planning takes a back seat to jumping in and moving everything along as fast as you can. We get it. Businesses are usually born out of a passion, a drumbeat inside that doesn’t go away. Take that passion and build your business on a firm foundation with these 7 steps.

What You Will Learn in this Episode:

  • Why business is such a powerful source of residual income
  • How to pay attention to the drumbeat inside of you
  • What the heck a “value ladder” is
  • How to lay the groundwork that leads people to your high-level, high-revenue products or services
  • How to find “blue ocean” in a marketplace crowded with sharks
  • The importance of a cohesive brand and all the legal and creative work that goes into it
  • Building client education into your business strategy
  • Why corporate structure is such an important business decision
“The first question to ask when starting a business: What is your main product or service? What do you specialize in?” – Bryan Dewhurst Click To Tweet “What is your minimum viable product? What is that something that gets people in the door, so to speak, and creates a little bit of cash flow?” – Phillip Ramsey Click To Tweet “You’ve got to create a value ladder – a path toward more access or higher-revenue products and services – to build a lasting, viable business.” – Bryan Dewhurst Click To Tweet “Make sure your business name is unique and that you trademark it ASAP. You don’t want to start a business and gain momentum, only to get slapped with a cease and desist order because you did not do your due diligence.” – Phillip Ramsey Click To Tweet “You want to get what I call a branding kit nailed down; your URL, logo, business cards, packaging – all that stuff that will help people identify and remember your business.” – Bryan Dewhurst Click To Tweet “People can make good decisions when they are presented with the right information.” – Phillip Ramsey Click To Tweet “Our job is to educate people about all the different things that you can do with your money and all the different ways you can build wealth.” – Bryan Dewhurst Click To Tweet “Don’t skimp on the accounting. When you go to request a line of credit or whatever, having audited financials gives you credibility right away.” – Phillip Ramsey Click To Tweet “You want to have an accounting system that is built to handle the growth that you anticipate. You want that in place on Day 1.” – Bryan Dewhurst Click To Tweet