In a large bowl stir together the yeast and water. Let sit for 5 minutes until foamy.
Mix in the olive oil, salt, and flour.
If using a stand mixer, which is the method I use, attach the dough hook and with the mixer on low knead the dough for approximately 6 minutes until nice and elastic-y. If kneading by hand, knead the dough on a lightly floured surface, again until elastic-y, for approximately 10 minutes.
Place dough in a lightly oiled bowl and cover with a fresh kitchen towel.
Allow the dough to rise for 1 ½ to 2 hours until it has doubled in size.
In a small microwave-safe bowl or on the stovetop melt your butter.
Add one full package of Ranch Seasoning Mix to the melted butter and stir well. If you are using a larger container it's the equivalent of 8 teaspoons of dry mix.
Using a pastry brush, coat the bottom and sides of a bundt pan with the butter and ranch dressing mixture.
Punch down the dough and tear off small pieces about the size of a tablespoon, roll, and place in the bundt pan. You will be doing this in 2 layers.
Layer bottom of the pan with your dough balls. Using the pastry brush coat the bottom layer with the butter/Ranch dressing mixture.
Continue with one more layer and again coat with the butter/Ranch dressing mixture.
Preheat oven to 350 degrees.
Cover the bundt pan with a clean towel and allow to sit until dough has doubled in size, approximately 20 to 30 minutes.
Place pan in preheated oven and bake for approximately 25 to 30 minutes until golden brown. Serve hot.