Saturday, November 16, 2019

Viewer questions David's Canuck Biases

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Viewer questions Canuck biases.

I received this question from a viewer the other day who is looking at enrolling in Business Buyer Advantage; my online education program that teaches you how to buy a business.

Hi David, how relevant is the material for the United States? I assume it is mostly fine, but am wondering if it geared more towards Canadian investors? Thanks, Steven J.

Great question Steven.

I am indeed from the Great White North, BUT-

Business brokerage is an industry largely created in the USA and as such, when I started to learn about how businesses are bought and sold, I learned from Americans largely.

When I decided to get my certification in business brokerage, I attended three full weeks of training over a 2.5 year period.

One week was in Ottawa, another in Atlanta and the last in Orlando.

Ever since I’ve started helping people work on deals all over the planet, I can tell you some things are constant everywhere…
  • The attitudes and emotional ties of sellers.
  • The fears of buyers.
  • The courage (or lack there of) of bankers when making commercial loans.
  • The back and forth of negotiation.
  • The financing structure of the deals.
  • Etc.
When I created Business Buyer Advantage, I really was thinking about the deal making over the minutiae of things like contracts and paperwork.

You will need the help of a local accountant and lawyer wherever you are in the world and these specialists will help with the fine print.

But they can’t help you until you’ve worked out a deal.

That’s what my program is about.  How to get to terms with a seller and be sure the deal makes sense for you.

The one place where things are a bit different for Americans is the SBA backed loan.

It allows more leverage than traditional lending ever would… but the rules change annually.

Students of my program learn how to set up the financing structure of a deal.

Once you learn that, you will know what questions to ask of your local banker to decide is the SBA route makes sense or not in your particular deal.

I hope that clears things up.

About 85% of students who’ve enrolled in Business Buyer Advantage have been from the USA and they’ve all been happy about the program except for two guys.

One is in Alabama and the other in Florida.

They, along with a guy from Switzerland have the distinction of being the only three people on the planet who signed up and then asked for a refund.

Pretty good stats, I think.

https://www.BusinessBuyerAdvantage.com

Cheers
 

David C Barnett






Then, he got back to me after he did the program:

Super Steve Review
Do you remember last weekend there was an email questioning whether Business Buyer Advantage would be useful for American students?
Well, that question came from Super Steve.
He ended up enrolling and here’s what he has to say…

I just finished the course last night, and I am floored! I feel like I got thousands of dollars worth of education in nine hours.

I am excited to start putting the ideas into action. You have given me the confidence to move forward and start doing something at 48 that I have been dreaming about my whole life.

Thank you so much!

Super Steve J.

Well, with students like this writing my emails, I may just have to spend the next year dreaming up new monsters for Halloween 2020!

Also, he’s not the first person to say that the program is grossly under-priced.

If it’s time for you to join Steve on his mission to buy an already-successful and profitable business, then head over to https://www.BusinessBuyerAdvantage.com

Cheers


David C Barnett 



Wednesday, November 13, 2019

Do Business prices go down in a recession? How to buy a business



Rick asks- Do SME prices go down in a recession?

I held an online session for some of the graduates of the Business Buyer Advantage online course last week and a few great questions came up.

The first one I’ll tackle is here.

Do prices go down in a recession?

It may seem like an easy answer to say yes, but there is no relationship between the economy and business prices.

The relationship is between the business’ financial performance and its price.

But that’s not all that changes in a recession.

Most notably, the availability of credit can change and this has an effect… on terms!

I think you’ll enjoy this one.

Watch the video of my thoughts and experiences here: https://youtu.be/OgmVl20I9Os  



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   

#entrepreneurship #recession #pricing #gunsandbutter

Sunday, November 10, 2019

Need help with your manhood? Get my perspective...

Lana Reid invited me on to her YouTube show called The Male Perspective.  We had a fun chat about manhood and doing business deals.


Wednesday, November 6, 2019

November 2019 updates and news about Florida for Jan 2020!



November- Lots of replies for this buyer.

We’re talking about what financing is available to buy a business.

We’re reaching out -and hearing back- from business owners about selling.

Some members have too many deals to look at.

Learn all about what’s going on in the update video: https://youtu.be/TOTbpEgSATY 



Join the group.  Meet others like you who want to take action to buy a successful business.

Participate in our group calls and learn from other member’s deals.

Sign up here:
https://gum.co/BizBuyerAdventure 

Also- Learn about Ft. Lauderdale Jan 4, 2020

Thursday, October 31, 2019

Small Business Deal Monsters to watch out for on Halloween...

This Halloween, beware of these frightening ghouls…
I know that some of you out there will be helping their little ghosts and goblins go trick or treating tonight so I wanted to send you some guidance about the monsters you may encounter.
These are monsters particular to the world of buying and selling businesses and so you may not have been trained to recognize them.
Let’s begin with David C Barnett’s 2019 Halloween Monster Mashup…
Fangorious Franchisor.  This is the vampire of the lot.  Imagine the top hat man from Monopoly with fangs.  He’ll dazzle you with Community Chest Cards then stop by regularly to sip 8% of your blood!
Swindling Seller.  A Mummy! Strong and powerful to behold but under the wraps, it’s all just dust.  Don’t lose your hard-earned money to this fiendish fellow.
Piratey Purchaser.  When sailing the seas this Halloween, be careful not to come alongside this swashbuckler.  He’ll promise you the world, then when he’s got your wares on his deck he’ll reveal that he has no money and be off with your time and goods.
Gluttonous Guru.  He’s fat off the big fees he charges for advice that goes nowhere.  When his advice doesn’t work for you, he’ll tell you it’s your own fault! Just too scary to think about. If you see him, run.
Avaricious Advisor.  There is always a new bit of paper that you need to do your deal.  This shapeshifting creep will look like a valued team member then slowly hack your purse to bits with more and more fees for more and more services... but the deal will never get done!
Supervisory Succubus.   Why don’t you like your job?  Why do you dream of buying a business? It’s because this ghoulish devil is secretly concocting spells in her office (along with her friends in HR) to drive you insane!  This monster feeds off the agony of subordinates and will drain you entirely by retirement.  Escape is a must!
So please, be safe out there tonight and avoid these creatures of the night.
If you need help traversing the forest of business deal-making after dark, reach out for my help at https://www.BusinessBuyerAdvantage.com
Cheers

David C Barnett

Wednesday, October 30, 2019

What is the best way to consistently find funding for deals?



Some of you are not going to like this.

You’ll miss out on seeing the cute waitress at the bar.

Nathan wants to know how he can consistently get funding for deals.

I’ll share my formula that I’ve seen work for almost all my successful clients.

HINT: It doesn’t involve financial #hacks or #ninjatactics

Cheers

Watch the video, I’m sure you’ll enjoy these bits of advice: https://youtu.be/vDQD6DFnsQg  



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   

#entrepreneurship #investors #loans #capital

Wednesday, October 23, 2019

Chris Kappes Talks Trade Shows and marketing sales for B2B businesses



Exploring the trade show market with expert Chris Kappes from ExhibitsHub.com.

Get those business cards printed up, we’re going to a trade show…

Just how big is the trade show industry and why should it be important to you?

Chris tells us just how important trade shows are to the business to business community and how big the expenditures are in this business.

We also talk about some strategy to be sure your business gets the most out of these amazing sales events.

Watch the video, I’m sure you’ll enjoy the stories: https://youtu.be/oD2TBKCfi4s



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   

#entrepreneurship #tradeshow #b2b #marketing #sales

Friday, October 18, 2019

Angela in Alabama serves up her cancer-fighting opinion of MLM schemes

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Reaction to my MLM video Wednesday

Business Broker Angela from Alabama writes via LinkedIn:

MLM recruitment practices can be predatory, offering hope of extreme wealth to those with little or no other career options. 

Many MLMs now circulating are based on false medical claims, which further exploits people desparate for relief from chronic health issues. 

Although I don't doubt your perspective regarding personal development, aren't there better ways to learn sales and business? 

The talent of the people making some money in these schemes is admittingly in recruiting, networking, and sales, but wouldn't these individuals be just as successful and make even more money as a conventional employee or business owner. 

There are other businesses with low entry barriers. I just think it's dangerous to encourage any participation considering the amount of money some people are manipulated into losing. (watch "Betting on Zero")

I haven’t seen the film, but I do agree with much of what Angela is saying.

I was honestly just thinking about the 1990s version of Amway that my dad was signed on to.

Yes, there are low-barrier businesses that people can get into.

Yes, you can learn sales as an employee.

I think though, that if you’re open to getting into a scheme that makes profits through exploiting the naivete of desperate people, you’re likely not going to heed my advice anyway.

People need to tune into their Spidey senses.

If you don’t know right from wrong, I likely can’t help you.

You have to listen to your gut.

Your gut is connected to your brain.

Science tells us so.

Good gut health leads to better attitudes and fewer instances of mental illness.

It’s why I try to eat some sauerkraut and yogurt everyday.

They’re tasty and cheaper than little pills filled with probiotics.

I did a quick Google search on how to make sauerkraut and it seems pretty easy.

You could make it at home and sell it to your co-workers.

The investment seems to be cabbage and some plastic containers.

Low barriers to new entrants and a way to help people’s health and protect them from evil.

You might even be able to find some friends who work in other companies to sell it for you too.

A sauerkraut Multi-Level Distribution system, if you will. (NOT MLM)

At the end of the day, business is about serving the needs of others, solving problems, and getting people things they want and/or need.

It’s not the search for a way to get people to give you their money in a way that’s not technically illegal.

Some people don’t get that though.

They think business is about bringing in bucks at any cost.

You just need to learn to avoid them.

I try to.


Cheers and pass the sauerkraut.




David C Barnett


P.S. Here’s a picture from my hike on Monday….


Wednesday, October 16, 2019

David asks- Can anything good come from Multi-Level Marketing?



Also known as- MLM Businesses.

You know.  You sign up under a friend to become a distributor of a product and part of the appeal is that you sign up others under you to earn a skim off their efforts.

Who doesn’t want to enslave their friends and family???

Just kidding!

What good things can you learn from signing on with an MLM program?

That’s what we explore in this week’s video.

As well as learn a bit about David’s past when it comes to these businesses.

Watch the video, I’m sure you’ll enjoy the stories: https://youtu.be/ysIAg9jvCiM  



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   

#entrepreneurship #smallbiz #familybiz #broker #MLM #scamway

Friday, October 11, 2019

Is there room for a chauffeur in a Mercedes G Wagon?

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Is there room for a chauffeur in a Mercedes G Wagon?

Tuesday’s email about the car, or truck, I have on my wish list sparked the ire of J. Augustine.  He writes:

OK, I am frugal too. But damn it, why does one work so hard if not to able to splurge on a childhood dream once in a a lifetime? Warren Buffet is reported to be using a flip phone and live in the same house since 1957. For what? The guy could by an entire Caribbean country to himself without significantly reducing his wealth. In my opinion, he makes a mockery of actual frugal folks. Now Richard Branson, on the other hand, works hard and plays hard. I tend to be aspire to the latter. How about Jeff Bezos? Yea, got himself a hottie (I don't condone divorce) and went partying around the world in billion dollar yacht ( not his own necessarily, but you get the jist: living it up). 

I too read the Millionaire Next door several a decade ago and I still have my copy. I admire its premise that regular joes can amass substantial wealth by leaving modestly and investing wisely. But there comes a point when the saver must enjoy the fruit of his labor, otherwise what's the point of it all. No can take their riches into the after life. 

I read recently some University worker died alone of cancer or some other incurable disease. He was a loner and cheapskate, probably wouldn't even treat himself to a steak dinner (this is conjecture on my part). But he left a staggering of amount of money to the university he worked for. No one at the university ever imagined his wealth. Now I have no doubt his bequest is going to help some deserving students and programs, but rest assured it will also contribute in some form to the high-end lifestyle of the university provost, chancellor and the like (after all, student tuition are always rising). 

Just my two cents. (Well maybe more, now that I realized I've rambled here for 3 paragraphs).

J. Augustin
Business owner and aspiring millionaire 

P.S. In case you're wondering, my dream ride is the Mercedes G wagon.

Wow!  Yes J. I hereby give you permission to enjoy your money.

Now, why do I like books like The Millionaire Next Door so much?  Because they pull back the curtain.

There are A LOT of people out there who believe that the trappings of wealth will make them happy.

I’m actually reading Dr. Stanley’s new book (which is a few years old) called Stop Acting Rich. I’ve added it to my bookstore here: https://www.amazon.com/shop/davidbarnett

This new book details the spending habits of the Aspirational Wealthy.  These are people who are not wealthy at all but spend money on things they believe that rich people buy.

They think that buying Grey Goose Vodka and leasing a Mercedes will make them rich because they believe they are looking and feeling rich.

It’s often part of a compensation play for a meager upbringing.

Why does Warren Buffet use an old flip phone?  My guess is because he’s got people who he pays to use Google for him.

Do you remember when you were in grade school and the teacher gave you a gold star for reading a sentence without error?

Every child had a ‘chart’ full of stars and some kids got really competitive and built a huge tower of stars to commemorate their progress and achievement.

That was me.

I liked the gold stars.

I use this weird psychological twist to manipulate myself into achieving my goals and desires.

Look at the picture below.

In each of those charts, I was working towards a goal of some kind.

Each time I take my pay from my business, I take care of household needs and then I ‘spend’ my remaining money by filling in little boxes. 

In some cases, the boxes are worth $100.

Paying off debts, saving for vacations, making annual contributions to retirement plans, etc.

It’s all driven by filling in little squares.

Each time I colour a box, I get a little hit of dopamine in my brain.

It feels good.

I feel like I’m getting somewhere.

I’m sure some people feel this way each time they get into their leased sports car.

But in that case, the dopamine is working against their net worth.

So, where am I going with all this stuff about our brains, feelings and goals?

In Scott Adams book; How to Fail at Almost Everything and Still Win Big, he tells us that our brains should be thought of as moist computers.

We can re-program them using things like daily affirmations.

We can make decisions about how we want to react to different stimuli in the world and we can design a series of reactions to get us where we want to go in life.

For me, my wall full of charts with filled-in boxes is like a prize fighter’s trophy case.

It reminds me everyday that I’m doing the things that will get me my goals.

No debts, a pickup truck, money in the bank and a business that leaves me free to travel and show my kids the world.


Cheers

David C Barnett



Wednesday, October 9, 2019

How successful are business brokers at selling businesses? How to sell a small business



A Canadian, an American and an Australian get together to talk about a report from the UK. 

No, it’s not the opening line of a joke.

In this international discussion I’m joined by Mike Finger of ExitOasis.com, a former business broker in the USA and Michael Kerr, from KerrCapital.com.au in Australia.

Together, this international panel of experts will dissect the recent report from our friend Clinton Lee in the UK about what the data reveals about that country’s largest business broker; K3 Capital.

We ask the question- Are business brokers successful at selling businesses?

Watch the video, I’m sure you’ll enjoy the discussion: https://youtu.be/9jsd_XL7yZE



Learn how I can help you 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   

#entrepreneurship #smallbiz #familybiz #broker

Wednesday, October 2, 2019

Done deal in Washington!



The leaves are changing colours and some businesses are changing owners.

They’re finding new buyers from among the ranks of my Business Buyer Adventure program.

We’ve even had one member complete an out-of-state deal!

How much will an asset-based lender give you to buy a business?

Adventure group members know because of this month’s expert guest and more…

Learn all about what’s going on in the update video: https://youtu.be/NpJODHYKKcY 



Join the group.  Meet others like you who want to take action to buy a successful business.

Participate in our group calls and learn from other member’s deals.

Sign up here:
https://gum.co/BizBuyerAdventure 

Friday, September 27, 2019

Lorna Poole and I discuss buying businesses as investments.


Lorna and I discuss the idea of buying a small business as a component of your investment portfolio.

Whaddaythink I said???  Listen in here:


Find Lorna's podcast, blog and more at:

Wednesday, September 25, 2019

What does small business success really look like?


Where’s your mansion and your pair of Lamborghinis?

Is business success all about the bling?

If you just watch flashy YouTubbers talking about business success, you’d think it’s all about 
materialism.

I’ve asked fellow Maritimer Jamie Irvine on to talk about business success.

It’s a conversation he has often with his clients.

-AND- Spoiler alert…. It’s got more to do with freedom than money.

(like taking three weeks off to bring your kids across country by train)

Watch the video, I’m sure you’ll enjoy the discussion: https://youtu.be/KY7T2EeWCeg



Learn how to buy a business at 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   

#entrepreneurship #smallbiz #familybiz #success #lamboenvy