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Ep 47: How To Structure Your Business The Right Way with Bobby Klinck

By Bobby Klinck | YOG Podcast

Oct 09

Anyone starting a business is bound to make at least a few mistakes along the way, but there’s one thing I see so many entrepreneurs get wrong that I just had to address it today. Far too often, I see people go into business without taking the time to set up a plan. This not only leads to problems in the long run, but it also has many beginners spending lots of money learning how to sell products before they’ve even figured out what they’re going to sell.

Planning is everything when it comes to starting your own business, so this episode is all about the foundational steps you need to take in order to structure things the right way. Listen in to learn where every entrepreneur should begin when figuring out a business model, common pitfalls to avoid, and how to get everything set up well from both a business and legal perspective.

Listen to the Full Episode:

What You’ll Learn In Today’s Episode:

  • Typical problems entrepreneurs face when they’re just starting out.
  • Questions you have to ask yourself in order to figure out your business model.
  • Things to consider if you’re planning on creating a course.
  • What you need to learn about your ideal customers.
  • The right way to ask potential customers what they want.
  • How to figure out your marketing channels.
  • Why you need a content strategy.
  • The pros and cons of personal brands vs. brand names.
  • Reasons you should set up an LLC.
  • Why it’s best to separate your business and personal finances.
  • A common mistake that stops entrepreneurs from ever getting started.

Ideas Worth Sharing:

Sometimes entrepreneurs have gone out and spent a lot of money to learn how to sell things before they’ve even figured out what they’re going to sell. - @bobbyklinck Click To Tweet When you’re starting out, you need to investigate and figure out what the right product is for you to sell based upon your market—based upon your customers—not what anyone else has decided for their own business. - @bobbyklinck Click To Tweet The perfect name probably doesn’t exist, and if it does, it’s probably already taken. … Don’t sit there turning your wheels forever trying to find a perfect name. - @bobbyklinck Click To Tweet

Resources In Today’s Episode:

 

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About the Author

Bobby Klinck is an intellectual property attorney, but he’s not your typical lawyer. Sure, he went to Harvard Law School and worked at some of the most prestigious firms in the country, but if you look at the big whiteboard in his office, you won’t see much about the law. His whiteboard is filled with tasks related to platform building, inbound marketing, and sales-funnels. Bobby is a full-fledged online entrepreneur, whose area of expertise is the law.