Thursday, April 18, 2019

May 2019 NAPA Parts Expo Bonus Recording Offer- Only until May 1, 2019.


April 12th I was invited to speak in front of Auto Shop and Parts Store owners at the NAPA 2019 Atlantic Canada Parts Expo.  I snuck along my own lapel mic so I could make a bootleg recording for you.

I've included it in my Exit Planning program and it will be there until May 1st, 2019.  If you want to sell your business one day, you should enroll. https://www.HowToGetOutOfMyBusiness.com

If you are already a member of the program, go log in and download the recording.  Every student has lifetime access.



Wednesday, April 17, 2019

3 problems with using past transaction data to value a small business.



If we use the available data, can’t we just calculate the value of a small business?

This week, I dive into the Matrix-like sea of floating numbers that are swirling around the topic of business valuation.

Why can’t we just compare a business to the available transaction data?

Won’t a calculator simply tell us the business’ worth?

It’s not so easy, I’m afraid.

Let me explain to you the 3 problems with valuing a business using comparative data.

Watch as I analyze the data and give you my calculated response: https://youtu.be/1AZDWlyU6Sc



Learn how to buy a successful business at https://www.BusinessBuyerAdvantage.com

Get an Audible subscription and listen to my book Franchise Warnings: What you Really Need to Know Before you Buy for FREE.

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   

#entrepreneurship #smallbiz #business #valuation #business

Wednesday, April 10, 2019

Want to spot me on my next workout?


This week we get a question from Rick on YouTube.

He wants to know why there are so many fitness businesses up for sale?

Well, I’ve had the pleasure of working on several files for people trying to buy and sell fitness businesses.

As a business broker, a private transaction advisor and as a certified machinery and equipment appraiser.

These businesses have a unique feature going for them… which may ultimately work against them.

Watch as I bench-press this topic to new heights: https://youtu.be/AXVpEh7ZHvc



Learn how to buy a successful business at https://www.BusinessBuyerAdvantage.com

Get an Audible subscription and listen to my book Franchise Warnings: What you Really Need to Know Before you Buy for FREE.

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   

#entrepreneurship #smallbiz #business #college #business

Friday, April 5, 2019

Joel and I discuss selling a business with the coach and consultant in mind..



Thought you might be interested in something cool that I recently participated it?
I was recently interviewed by Joel Erway on his podcast Experts Unleashed which just went live today!
And, we talked about some really cool things that I don’t normally share.  
During the interview we touched on 
Journey into entrepreneurship and the art of dealmaking;
A “poorly” done deal and the risk of buying and selling business;
Break even point;
The most important elements of selling a business;
What should someone in the coaching or consulting space think of prior to taking steps towards selling?
Timeline for selling a business;
Is there such a thing as “too niche” or too small to sell?
What a sellable business looks like;
Listen to the market;
Positioning your business.

Thanks!
Find the recording here:

Wednesday, April 3, 2019

How do you make paid online advertising work for your business?



Hi Everyone,

You know those little ads that appear on the sidebar or in the search results of Google?

The ‘sponsored’ posts that are in your FaceBook feed?

I hear a lot of business owners complain about money being spent on this stuff with little in the way of measurable results.

Meet Richard.

He’s a marketing expert with years of experience in helping businesses encourage buyers to take action before the days of clicking on ads. 

He knows how to make ads that get people to call, write or drive over and visit a retail store.

Nowadays, he’s helping small business owners develop the skills to properly manage online advertising on their own.

I like him because he’s teaching people how to do things the right way, he’s not pretending that only he can follow a secret recipe.

Even if you don’t do it yourself, the knowledge he passes on will help you be a better buyer of digital marketing services.

Watch the video of our chat here: https://youtu.be/EHvNj6xAf3M


Check out Richard's presentation at https://www.slipstream-marketing.com/d

Learn how to buy a business at https://www.BusinessBuyerAdvantage.com

Get an Audible subscription and listen to my book 21 Stupid Things People do When Trying to Buy a Businesss FREE.

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

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

#entrepreneurship #smallbiz #business #businessbroker #digitalmarketing

Monday, April 1, 2019

I'm pleased to announce the sale of my business.


When someone makes you the right offer… you take it.

I know this may come as a surprise to some of you.

But I haven’t been totally excited about my business for quite some time:
  • I get nervous on camera sometimes.
  • The YouTube trolls keep me up at night.
  • It’s a struggle to hang out with the kids everyday after school and get involved in all their activities and projects.
Lately, when I see people stuck in morning traffic headed to their office, I feel kinda jealous. (even though I’m enjoying my casual morning walk with coffee after leaving the kids at the crosswalk near the school.)

So, it was almost a relief when newly-minted Business Buyer Advantagegraduate Hector Cortez called me up and made a stunning proposal--

“David, I so thoroughly enjoyed your online training.  I feel that I now understand this process and I have the confidence to move forward and execute my first business purchase without the fear that I’ll get into a bad deal.

I can’t think of a more exciting idea than helping other people move forward on this same path.

So, here’s my proposal… I’d like to buy your business David.  What do you say?”

I didn’t know where to begin.

It was like Hector had reached out to me on the very day that I was thinking about taking the leap to buy a package of plain brown paper bags.

I had been toying with the idea of packing my lunch in one in order to get that ‘normal workplace’ feel here at my cozy home office with a great view of the backyard.

Now, usually, I’d advise a seller to take their time and make a proper presentation to a buyer and spend time getting documents ready, etc.

In fact, you can learn all the things that a business seller should do and even enjoy the material in a half-day online training program over at www.HowToSellMyOwnBusiness.com

In this case, I was so excited to sell this business that I just blurted out a number--

ONE MILLION DOLLARS!.. and then I put my pinky finger up to my mouth in homage to Dr. Evil.

Hector was equally moved by passion and emotion.  He accepted... as long as I agreed to his terms.

I guess he did learn something while taking the informative and enriching online training over at https://www.BusinessBuyerAdvantage.com

I’m going to have to receive my money over quite a long period of time.  Some of it is subject to certain earnout conditions and I have to continue to host some of the videos for the foreseeable future.

I’m also going to continue to moderate and help the members of the online group coaching program for business buyers; Business Buyer Adventure.

I think that’s great because everyone there has so much fun working together to push each other to achieve and I get to share so much more valuable information and strategies that just wouldn’t fit into the Business Buyer Advantage training.

AND- for sure I need to wrap up the Financial Forecasting and Business Plan Writing program that I started a few weeks ago.

I’m happy about that because the people in the program are learning a ton and I wouldn’t want to leave them before they finish learning a skill that every business owner really needs to know.

So basically, I’ll be here for awhile working hard for my new boss Hector.

I hope he has the heart to assign me a decent parking space.

Happy April Fool’s Day Everyone.

Cheers

Dave