Sunday, December 25, 2016

12 Days of Small Business Mis-Management. Don't make these small business mistakes




I met Heer Pasha on LinkedIn and we had a fun exchange about why small businesses often fail.  It soon developed into a list and so we’re happy to present:

12 Days of Christmas Small Business MIS-Management

  1. Managing by cash and not seeing accruing liabilities
  2. Not understanding cash flow
  3. Not charting the workflow of their business function
  4. Lack of attention to administrative tasks
  5. Acting like a Princess or Prince… workers are not subjects
  6. No job descriptions. Who is accountable for what?


….and 6 more that will make you shake your head, but you’ll have to watch the video here: https://youtu.be/A9KhBUfBhx4



The video is a little longer than my usual, but hey, what were you going to do after you open all your gifts anyways?
Happy Holidays

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

Forward this e-mail to someone you know who's 'into business stuff' so they can sign themselves up.

I’m coming to Charlottetown, Prince Edward Island in January 2017.  Seats are already filling up.  Find all my live events here: http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time.


Sunday, December 18, 2016

Should my business have 100 or 1,000,000 shares? How do Shares work?



Over the last two weeks I’ve had two different clients who were somewhat confused about how shares work in a corporation.  Both were small business owners.

One owner was trying to pass the family business on to their children.  They asked me how to ‘transfer their shares’ from the established corporation to the new corporations of their children.  Can one do this?

The other client was a pair of entrepreneurs who wanted to bring on a third partner and have his investment go into the company.  They weren’t sure how to accomplish this. 

I taught them how they could achieve their goals by splitting their existing shares and have the corporation issue new shares to the new partner.

Not sure what I’m talking about?  Learn how to use a corporation’s shares to make your deals in this video: https://youtu.be/1EjKjSAd1F8



Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com 

I’m coming to Charlottetown, Prince Edward Island in January 2017.  Seats are already filling up.  Find all my live events here: http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time. 

Sunday, December 11, 2016

Stoopid Rules of Thumb. The Story of the 5X Accountant. How To Sell a Business



Yes, I know how to spell ‘stupid,’ please don’t e-mail me.

I’m cranky and sore and upset.  I’ve got a cold and an ear infection. 

What makes me more cranky and upset is when I hear the same poor advice about rules of thumb for pricing small businesses being passed around again and again and again.

This week I tell the story of the old accountant who told me once in a workshop, ‘Businesses sell for 5 times their cash flow.  Those with real estate sell, those without don’t.’

Simplistic rules of thumb like this one guarantee only one thing… mistakes are being made and it’s costing someone dearly.

I explain why those with real estate sell, those without don’t in this video and the answer will make you sick to your stomach if you happen to be a business owner who could have fallen victim to this kind of advice.  Watch it here: https://youtu.be/ck_AmnOIzDE



If you own a business and will want to sell one day, you need to educate yourself about how this process works and give yourself time to get ready.

Learn what’s involved in selling your small business.  Take my 3 hour online course at www.HowToGetOutOfMyBusiness.com or buy my Amazon best-selling book; How To Sell My Own Business.  Available from Amazon.com or Amazon.ca  



Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com 

I’m coming to Charlottetown, Prince Edward Island in January 2017.  My live events always fill up fast.  Find all my live events here: http://davidbarnett.eventbrite.ca


Thanks and I’ll see you next time. 

Sunday, December 4, 2016

Why don’t business owners just hire a manager when they want to retire? How to Buy a Business



The other night I was in Halifax, NS doing one of my Business Buyer workshops.

One gentleman was interested in buying a business that he could run with a manager and not be involved in full-time.

He was concerned that most small businesses had to be owner-run and wondered why owners just didn’t hire managers when they wanted to step back into retirement.

The reason… most small business owners aren’t capable.  I made this video to explain.  Watch it here: https://youtu.be/f3NPWgkYnLc  



I also explain how one of my very remarkable business buyers was able to manage several businesses while keeping a full-time job!

If you think you would benefit from my help and guidance over the coming year to meet your business goals, you may wish to consider my 2017 mastermind.  It’s for small business owners who want to improve their business or people who want to find and buy one. E-mail me for details.

For help on buying a business, visit www.BusinessBuyerAdvantage.com

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com 

My live events always fill up fast.  Find all my live events here: http://davidbarnett.eventbrite.ca


Thanks and I’ll see you next time.