Tuesday, December 24, 2019

Some friends stopped by for my 2019 Live Christmas Eve Special...


Some friends dropping by.


It’s the holidays so I invited some of my SmallBiz friends to drop by for a bit of a party.

Join us for some cheer and fun conversation.  Here’s who I invited…

Mike Finger, a former business owner, business broker and consultant who helps business owners prepare their businesses for sale.

Henry Lopez, former car wash and suite salon owner and current co-working space and frozen yogurt shop owner will be visiting too.  Henry is also a business coach and the host of the How of Business Podcast.

Marc Mawhinney, Three-time business owner and business coach to coaches will be stopping in.  Marc is the host of the Natural Born Coaches Podcast.

Finally, I’ve got Rick Nicholson who will be visiting near the end.  Rick has owned seven different food/coffee businesses over the years and is a Wizard of Ads partner with Roy H Williams’ Austin, TX based organization.

Watch the party here on YouTube: https://youtu.be/WFX4dOPSkQM

You can also hear the audio on Apple Podcasts, Spotify, SoundCloud and other platforms by searching up David C Barnett Small Business and Deal Making.

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   

Cheers and Merry Christmas

David C Barnett

Wednesday, December 18, 2019

What you should learn from your job before you become a business owner. How to Buy a Business


What should you try to learn from your job?

If I let you learn how to drive with my car before you bought one of your own, would you?

There is a great advantage in gaining experience.

Especially before mistakes will cost you money from your own pocket.

This week I answer a question from a Business Buyer Advantage student who wanted to know what he should try to learn from his job before he buys a business.

Watch the interview here: https://youtu.be/wI0nmhgz5OI



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 

Cheers

David C Barnett

Wednesday, December 11, 2019

Robert Gale has bought or invested in over 20 distressed businesses. How To Buy a Business



Veteran entrepreneur and investor in distressed businesses tells us how.

Have you ever thought of buying a failing or distressed business?

Some people say this is how you get a good deal.

Does it all come down to purchase price though or is there more to this?

I interview experienced distressed business investor Robert Gale from Rothesay Capital Partners who has taken on the challenge of over 20 such businesses in his career.

Listen to some of the lessons that Robert has learned and learn about some of the challenges of this type of business acquisition/investing.

Watch the interview here: https://youtu.be/Cf0e4so9b1c



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 #distressed  

Wednesday, December 4, 2019

Mark Willis talks about Life Insurance as an liquidity tool



Creating your own financial resiliency.

What if you could borrow money whenever you wanted and didn’t have to get an approval?

This week, I discuss an interesting concept in financial planning that’s been used for over 100 years by wealthy individuals and corporations.

In fact, while I was reading Empire of Imagination, the story of Gary Gygax, creator of Dungeons and Dragons, I learned that the very first edition of D&D was financed using the technique outlined in this interview.

It could be something that you decide to make a part of your wealth planning.

Let’s listen to Mark Willis about how some people are creating options for themselves based on the type of insurance they buy: https://youtu.be/OMlvcxWROag



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 #financing #smallbiz 

Sunday, December 1, 2019

I make an appearance on the Leafy podcast to talk about business transactions

I had a fun and light-hearted conversation with Jennifer Gligoric and Brian Price.  Check it out:



Find out more about Leafy legal services and their other podcast shows here:

Wednesday, November 27, 2019

What's with the R-word? Things to think about when buying a small business in a recession economy.


What’s with the R-word?

Well, in the spring there was a question about buying a business in a recession.

Last week I released a video about whether business prices go down in a recession.

Now, I’m getting all kinds of recession questions.

The fact is, small businesses are risky and any ONE business is at risk of recession for reasons COMPLETELY INDEPENDENT of the general economy.

So, if there are all kinds of risks out there, do we need to do anything different when buying a business and we believe a recession is coming?

Planning for risks is part of the game. 

You need to put yourself in the best position with the most options possible.

I’ve put a few more thoughts into this week’s video as well as announced an early Black Friday goodie for 2019.

Watch the video about recessions and small business and a new module that’s been added to Business Buyer Advantage here: https://youtu.be/lIKTMFNesDM



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 #buyanSME



Wednesday, November 20, 2019

What business brokers think about the market for SMEs.



Q1 IBBA Small Business Market Report Analysis

The International Business Brokers Association publishes a quarterly market report about what is going on in the market according to their members experience.

Come with me and let me show you some of the numbers that really stand out about preparedness, selling prices and who the buyers really are.

You’ll also learn why these numbers are skewed from the market in general.

Sit back and take a look with me at how 2019 started in the market for small businesses: https://youtu.be/LOGuQ5GUvNA



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

Learn how 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   

#entrepreneurship #smallbiz #business #business

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….