Wednesday, May 27, 2020

Managing collections and getting paid with Stephen King. Manage your SME.


The cheque is in the mail…

Today I’m joined by Stephen King from https://www.growthforce.com/

Stephen has a varied background in business and accounting and works with SMEs on providing services and information to help them run a better business.

Today we discuss getting PAID!

Your business does the work, but when do you get paid and how do you manage this when crazy things like global pandemics pop up.

Surprisingly, he doesn’t suggest hiring Pennywise the clown to make your collection calls!

Receivables are an investment your business makes into the business of your customer.

How do you know when it’s ok to extend credit and how do you manage being told that the ‘Cheque is in the mail?’

Get a cup of coffee and join Stephen King and I for this interesting conversation about collections: https://youtu.be/u-eBNJD7iO0



Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   **Now with a new section on buying distressed businesses.

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, May 20, 2020

Riches in the niches- How to make lots of money without competitors noticing.



Riches in the Niches…

What’s the difference between a product niche and a market niche?

In this video, I explain how not all highly specialized niches are attractive and what to look for if you’re trying to make boatloads of money while dodging competitors.

Also, it’s the last video that I made before the barbers closed.  


All future videos will feature ‘shaggy-haired Dave’ until covid restrictions ease up.

Sneak on over to this barely-visible market niche and watch the video:  https://youtu.be/40o5-3qzny0  

Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   

Make the systems in your business better. https://www.EasySmallBizSystems.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, May 13, 2020

Raising funding from Family Offices with Richard Wilson- How to Buy a Business


The real ‘Rich Uncle Albert’

Maybe you’ve heard this story before.

A business buyer doesn’t have enough cash to do a deal on a great acquisition opportunity and so he needs to go and ask Rich Uncle Albert for help.

We don’t all have a rich uncle, but maybe we can meet someone just as useful in doing a business deal.

This week I talk with Richard Wilson from FamilyOffices.com about the types of investor that his organization caters to.

We also discuss what these folks are saying about the #CovidRecession.

Listen in as Richard and I discuss his wealthy private investor organization and what these rich folks really look for in a deal: https://youtu.be/e-0uDhNRNiE



Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   **Now with a new section on buying distressed businesses.

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, May 6, 2020

Zombie Businesses, Zombie Capital, Dead Capital walking around- Business Valuation


Zombies coming out of your financial analysis…


Any good business buyer will spend time analyzing the financials of the business they are considering.

What happens when the cash flow produced by the business is really low, but the business contains assets clearly worth more money as used equipment?

Can a business like this really be worth 8X, 10X or 12X EBITDA?

This is another way to identify dead capital (or zombie capital) in a post-apocalyptically re-animated Corpus Corporate.

Grab you tomahawk and chainsaw and help me fight off the zombies in this new video:  https://youtu.be/IQTucDC4NsY



Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   **Now with a new section on buying distressed businesses.

Learn to sell a business at https://www.HowToSellMyOwnBusiness.com

Take some time to organize your business properly https://www.EasySmallBizSystems.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, April 29, 2020

Doing what it takes for businesses to survive Covid-19 with Marco Robert


Check your ego at the door…

The market has changed for many businesses and some are in dire straights!

I met up with business turnaround coach Marco Robert to discuss the issues most commonly faced in troubled businesses and how this compares with the Covid-19 crisis.

What’s interesting is that the solution to survival is largely the same and it starts with rational actions taken for the survival of the business.

The execution of Sacred Cows.

And ignoring one’s ego.

Tune in and how businesses can survive Covid-19 by doing things most would not consider: https://youtu.be/9gnZQ4cyZV0



Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   **Now with a new section on buying distressed businesses.

Take some time to organize your business properly https://www.EasySmallBizSystems.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   

Wednesday, April 22, 2020

Terry Lammers & David C Barnett Talking to Employees about the sale of a business



You bought/sold the business.  Now how to tell the employees…

What makes Terry such a great guest is that in his past he’s also led a family business which did multiple acquisitions before selling the entire enterprise on to a bigger company.

Then he had a career in commercial banking.

Terry’s rich experience was welcome in today’s discussion about how to talk to employees about the sale of a business.

Tune in and see what insights come from this interesting conversation: https://youtu.be/TJc2-gH8y5s



Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   **Now with a new section on buying distressed businesses.

Lear how to sell a business at https://www.HowToSellMyOwnBusiness.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   




Wednesday, April 15, 2020

Is the inventory value added or included in the price of a business? How to buy a business


Now many nails in that hardware store?

What do we do about inventory?

I received a great question from Anton about the value of the inventory when you buy a business…

Do we add it to the cash flow multiplier or is it included in that number?

Great question because if you get this wrong the number used for the transaction could be WAAAAAY off!!

Want a hint?... it depends. Of course!

Grab your abacus and come on over to help me count through these racks of dresses: https://youtu.be/X6L_dS2gRYs



Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   **Now with a new section on buying distressed businesses.

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, April 8, 2020

Trampoline Park considerations- How to Buy a Business


Bounce Bounce Bounce…

You don’t have to be Tigger to enjoy bouncing up and down all the time.

This week, I’m releasing a video that was a response to Lars question-

What do you think of trampoline parks?

Obviously, most are closed right now because of covid-19.

Some may be coming on the market soon and as entertainment businesses they may be of interest to some of you.

Why?

Entertainment businesses have been known to be successful in recessionary times.

Bounce on over and listen to what I think over here: https://youtu.be/qkbiEi9F-PU



Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, April 1, 2020

April 2020 Update on Surgery, Covid-19, Holiday Chats and more...


Hi,
I made this week’s update video to cover several points:
  • I’m ok from the surgery Friday
  • What the people in the Adventure group are doing as a result of Covid-19
  • I’ve put a new Covid-19 module into Business Buyer Advantage.
  • I’m going to release the Holiday Chat 2019 calls on the public YouTube channel early for you.

Hear what’s happening here: https://youtu.be/IrXu07tqMtg



Learn how to buy an already-successful and profitable business even in a recession: https://www.BusinessBuyerAdvantage.com   

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   

Wednesday, March 25, 2020

Remove burdensome debt when buying a business (USA) UCC Article 9


Using UCC article 9 to wipe debts away

This week’s interview is going to be valuable for American business owners and business buyers.

I interview debt-workout expert Kenny Butler from Bardwell Creative.

He helps businesses deal with burdensome debt and today he’s going to explain to us two things:

1         **The evils of Merchant Cash Advances

2     **How a business with too many debts may still be a good business to buy and how those debts can disappear!

The best thing is, Kenny will teach us about a non-judicial process which means that lawyers and courts don’t add to the expenses or timelines.

This technique can be extremely valuable in the days of covid-19.

Kenny came back and spent another hour with me to be the April guest speaker in the Business Buyer Adventure group coaching program about how to execute on these deals.

Listen as I interview Kenny Butler about how he helps wipe debts away in the sale of a business: https://youtu.be/IrXu07tqMtg



Learn how to buy an already-successful and profitable business even in a recession: https://www.BusinessBuyerAdvantage.com   

Learn to sell your business at https://www.HowToSellMyOwnBusiness.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Sunday, March 22, 2020

How Covid-19 is going to change business buy/sell deals in 2020


My thoughts and ideas on how small business deals are going to change for 2020.  There's lots of good news for buyers... we're going back to 2008 deal making!

Friday, March 20, 2020

Covid-19 Business Survival Guide


Paul Hindelang and I met to discuss some strategies and ideas to help small business owners survive.

Wednesday, March 18, 2020

Will Alchemy cure all ills? David and Dov Gordon talk consulting sales




Will Alchemy cure all ills?

Long before I had even heard of the Coronavirus, I met with Alchemist Entrepreneur Dov Gordon.

I had interviewed Dov earlier as an expert guest in the Business Buyer Adventure Group coaching program.

That recording was released to members for March.  There is a new expert call each month.

Dov rejoined met to discuss the magic of alchemy networks in this video.

It’s kind of like direct sales and networking for people who find those things difficult to do.

It can help make customers very sticky and has worked particularly well for advisory businesses like consultants or coaches.

Listen to Dov conjure his solution to increased consulting sales here: https://youtu.be/nn77qANtMFk



Learn how to buy an already-successful and profitable business: https://www.BusinessBuyerAdvantage.com   

Learn to sell your business at https://www.HowToSellMyOwnBusiness.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, March 11, 2020

Do businesses protected by government make bigger profits? How do we value these licenses?


If the government isn’t giving out any more licenses, does that mean fat profits?

Sometimes you need a special license for a type of business.

AND- there are a limited number of them available.

How do you put a price on this special right given by the Prince?

Does a special government license which restricts competition create more profits for you?

What do these government folks want in return?

Listen to me babble on about the perks and traps of regulated industries: https://youtu.be/x8jmdGZtKoY



Learn how to buy an already-successful and profitable business: https://www.BusinessBuyerAdvantage.com   

Learn to sell your business at https://www.HowToSellMyOwnBusiness.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


Wednesday, March 4, 2020

Selling Advertising agencies with David Blois


How about selling an advertising agency?

What if you have a business that is driven by strong personal relationships and the creative juices of the founder/principal?

How would you sell a business like that?

This is what David Blois and I discuss this week when we talk about his brokerage firm.

They specialize in selling advertising agencies and handing the risks of the issues I just mentioned.

Enjoy.

Watch the video of the interview here: https://youtu.be/IB6Q_cT3MqQ



Learn how to buy an already-successful and profitable business: https://www.BusinessBuyerAdvantage.com   

Learn to sell your business at https://www.HowToSellMyOwnBusiness.com

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   

David LIVE!!
P.S. if you want to dip your toe into educational investment AND you live near Toronto, Kitchener or Las Vegas, then maybe you should come out and meet me LIVE this spring.

Friday, February 28, 2020

10,000 subs!!!




10K Subs feels great!!

Did you hear?

I now have 10,000 subscribers on YouTube.

It’s been quite a journey.

Hey, if you want to see some funny stuff, go back 5 years and see what my videos used to be like.

In all honesty, it’s pretty humbling.

I’m glad people are enjoying them and, more importantly, learning from them and avoiding bad deals.

It’s my mission, after all.

I don’t think I have the guts to run into a burning building to save a cat, so it suits me just fine.

Thanks for all your support to this point and all the great feedback and comments I get on a regular basis.

Remember, if you have any friends who are interested in business, have them check out my website and sign up for my list; www.DavidCBarnett.com

Here’s to the next 10,000 subscribers!

Cheers



David C Barnett

Wednesday, February 26, 2020

Harrison Hunter Reid and I tackle scarcity mindsets and other fun business stuff.


Meet Harrison Hunter Reid

How does one get a speaking spot on the Nomad Cruise?

How does one challenge their limiting beliefs developed in adolescence?

How does one rid themselves of a scarcity mindset while not going crazy with woo-woo fan boy mushy optimism?

How does one make a big positive change?

Let’s find out with this week’s guest Harrison Hunter Reid.

A super-fun interview. Trust me.

Watch the video of the interview here: https://youtu.be/R3MJVDC12Lc



Learn how to buy an already-successful and profitable business: https://www.BusinessBuyerAdvantage.com   

Book a call with me at https://www.clarity.fm/davidbarnett  

Stop missing my videos and other news. Join my email list here: https://www.DavidCBarnettList.com   


David LIVE!!

P.S. if you want to dip your toe into educational investment AND you live near Toronto, Kitchener or Las Vegas, then maybe you should come out and meet me LIVE this spring.