Ep 002: You Don’t Have to Have it All Figured Out First To Build a Great Company – Gray Somerville

Ever get stuck trying to figure everything out before launching a new product, service or company?

Well, if you have, you’re going to enjoy this interview with Gray Somerville—especially the story about how his company got started. It’s really pretty funny!

Gray is the co-founder of Telogical Systems, a company he and his business partner, Ken Archer, started in 2000, that has grown into a multimillion dollar company with over 85 employees here in Charleston, SC.

Having caught the entrepreneurial disease with Telogical, Gray began helping entrepreneurs which then led him to create an entrepreneur boot camp, 365 Days to Launch. And from all those experiences, Gray recently co-founded a new company called, LaunchPath Innovation. Which means that in this interview, you get to learn from both a seasoned entrepreneur, as well as someone who’s right in the middle of a start-up all over again.

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Podcast: Subscribe with iTunes (get every episode for free) or Subscribe to Stitcher (Android)

What You’ll Learn

In this episode you’ll learn

  • Why you don’t have to have it all figured out before you get started
  • The difference between precipitating causes and secondary causes
  • Why you don’t have to be passionate about your product to succeed
  • What questions you need to have answered before making your first call
  • Why you shouldn’t read prospectuses from large companies to help design your business plan
  • How to sell to large companies (it’s not as hard as you think)
  • Why you should start selling before you have your product all put together
  • The advantages of bootstrapping over any other way of starting out
  • Why running your company like a big company from day one is a wise strategy
  • Why and when you might want to turn over the reigns as CEO
  • Why you should think more like a scientist about your ideas
  • How to make innovation more accessible
  • Where every idea conversation should start
  • Why entrepreneurs ought to create more spreadsheets
  • The number one question you should answer before you launch anything
  • And so much more …

Sponsored By

Double It Plan: The Ultimate Growth Planning Blueprint. If you want to double your business in the next 12, 24, or 36 months, make sure you check out Double It Plan so you can learn how to create a killer growth plan for your business.

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