Uncommon Wealth Podcast

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Episode 48

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

Uncommon Wealth Partners
Uncommon Wealth Partners
7 Steps to Launching a Business with Phillip Ramsey and Bryan Dewhurst
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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 Share on X “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 Share on X “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 Share on X “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 Share on X “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 Share on X “People can make good decisions when they are presented with the right information.” – Phillip Ramsey Share on X “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 Share on X “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 Share on X “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 Share on X