Building A Brand Podcast

Building Brand Podcast Episode 14: The Business Foundation


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When building a business, lay one piece at a time. The foundation of a business is extremely important. It allows you to grow at your own pace. It enables you to stand the test of time. When hardships come, your foundation will remain intact and will enable you to get through the rough times and the pitfalls along the way. Your foundation not only supports you but also protects your company as well.

Will smith:

He and his little brother were laying the foundation and building a wall for his father's shop. During most of the process, he felt discouraged, like he couldn't build this wall. It took them a year and a half to complete this one wall.

Don't set out to build a wall. You say, “I'm going to lay this brick as perfectly as a brick can be laid… and If you do that every single day and soon you'll have a wall.

Foundation Areas:

  • Mission and goals (Keep you going when times get hard)
  • Structure, processes, and procedure (Workflow, clarity, and action)
  • Legal alignment (Making sure your business is registered in all the necessary areas)
  • Taxes (Don't overlook your taxes you can get into tax evasion issues)
  • Ownership (You don't really own your brand until you own your brand)
  • Reason 1: Each piece is important

    Reason 2: People will say to skip this step and that step

    Reason 3: Legal reasons

    Reason 4: Mistakes come back to bite the mess out of you

    Reason 5:Your foundation will allow you to keep going no matter what

    ~ LinkedIn article 2019 “Why building a strong business foundation is extremely important”

    “It's not important, it’s Everything… Having clarity, goals, process, and accountability, aka a strong foundation, will be the reason you succeed. It could also be the reason you keep your business. Understanding where you are going, how you are going to get there, and how the money flows in and out of your business gives you massive leverage when it comes to negotiating with potential investors, vendors, and talent.”

    #StartingABusiness #BusinessTips #BusinessLeaders

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    Building A Brand PodcastBy Jeremy Patton