176. From His Parent's Basement to $105K/Month Business with Zero Debt

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3M ago 24:22

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Phil Risher started his digital marketing company while living in his dad’s basement & $30,000 deep in student debt. Now, Phlash Consulting has grown into a thriving seven-figure company and earned Phil features in major publications such as Forbes, CNBC, and Business Insider for his debt-free business approach.

In this interview, Phil shares his battle-tested blueprint for starting a digital marketing agency with a $0 upfront cost. Including how to land your first client, leverage free marketing strategies like niche content creation and networking, and master cash flow discipline to ensure profitability. His story proves you don’t need deep pockets to succeed—just grit and resourcefulness.

Key Takeaways:

Starting a business debt-free is possible with the right approach.
Focus on acquiring clients before investing in marketing.
Service-based businesses are ideal for debt-free startups.
Content creation can be a low-cost way to generate leads.
Managing cash flow is crucial for profitability.
Utilizing a budgeting framework helps in financial planning.
Networking is key to finding your first customers.
Building a productized service can help scale your business.
Invest in good team members to grow your business.
Set clear financial goals and stick to them.

Resources:

Start Your Business Today: https://links.upflip.com/41CvEcO
Connect with Phil: https://phlashconsulting.com/

Ready to be your own boss without starting from scratch? Grab our FREE Franchise Guide and unlock the secrets of proven business models that have already created thousands of success stories.

Connect with UpFlip:

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@UpFlipOfficial on Twitter

For more insights to start, build, or grow a business, check out the resources on UpFlip.com or head to the UpFlip YouTube channel to see more interviews with business owners and experts.

Thanks for listening!

Chapters

1. 176. From His Parent's Basement to $105K/Month Business with Zero Debt (00:00:00)

2. Background (00:01:31)

3. Ways To Start a Business Without Debt (00:02:29)

4. Reasons to Avoid Debt When Starting a Business (00:03:57)

5. Best Industries to Start a Debt Free Business (00:05:24)

6. How to Manage Cash Flow to Ensure Profitablity (00:07:23)

7. How to You Allocate Your Budget (00:09:14)

8. Biggest Money Mistakes for Entrepreneurs (00:10:14)

9. Low Cost Way To Scale Your Company (00:11:27)

10. Best Type of Content To Promote Your Business (00:12:37)

11. How Long Before Content Generate Leads (00:13:11)

12. Financial Principles to Run a 7-Figure Business Without Debt (00:14:12)

13. How to Measure Your Personal Budget (00:16:05)

14. Minimum Amount of Saving to Start a Company (00:16:37)

15. Scaling Your Team (00:17:18)

16. What Took Phil from 6-figures to 7-figures (00:18:18)

17. How to Track Your Lead Flow (00:19:36)

18. Small Steps that Can be Done Today to Grow a Debt-Free Business (00:20:46)

19. Fan Blitz Questions (00:21:55)

20. Ryan's Takeaways (00:23:25)

189 episodes

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