April 2019 Business Buyer Adventure Group Update

3 new members- I get to meet another Florida Man 😉

Hi,

3 new members.

Our first European member.

One new member gets a sanity check and avoids potentially overpaying for a business.

Learn what a banker really thinks of your deal and more.

Watch the complete update video here: https://youtu.be/-0qk66FIleo 

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, find out what’s been going on in the Cash Flow Forecasting and Business Plan Writing Course.

 

If you are ever going to have to make a presentation to investors or lenders one day, this program is for you… also if you just want to see if your expansion or new idea is even feasible.

Sign up over here: https://gum.co/smallbizforecasting

Can you buy a business with no money?

This is an email I sent out to my list recently.  If you'd like to receive my ideas, observations, opinions and offers in your inbox every day, please sign up at https://www.DavidCBarnettList.com

Buy a Business with No Money

A few years ago, when I was beginning to make a lot of videos on YouTube, I enrolled in a program from a marketing guy in Atlanta.

In the program, I learned how to get bigger audiences on YouTube.

The secret was to figure out what people were looking for and then make a video using words in those searches.

If the video was good, the watch time, likes and shares would show YouTube that the video was a good one and it would climb up the rankings.

So, I began to poke around and see what terms people were looking for.

You know what?

There are a lot of broke people out there!

The most common search term was ‘buy a business with no money.’

So, I made a video about it… then more based on comments.  There are 4 of them now and I put them into this playlist: https://www.youtube.com/playlist?list=PLqomziNDpylV1eSqc_sw8M_anu9nZKodc

In the videos, I basically show people that it’s really, really, really hard for a broke person to buy a successful, profitable business.

You can buy a business with no money down but usually this is something that existing business owners are able to do or people with other significant assets.

What amazes me though are the email messages I receive:

·         Can you help me buy a business no money down in the UK?

·         Can I really buy a business with no money?

·         Can I buy a business with no money even if I’m only 18?

It’s like they haven’t even watched the videos!

What am I doing wrong?

-or- are they confusing me with someone else?

There are several people online who promise to be able to show desperate people how they can buy a successful business in as little as 90 days with no money.

But it’ll cost you several thousand dollars to learn their secrets.

I, on the other hand, don’t offer any magical beans.

If you are able to manage your finances, take care of your bills on time and have some savings accumulated then you’re the right candidate for my programs… which start at under $500 even if you add the optional one-on-one call.

I’ll teach you how you can buy a business in a way that manages risk and makes sense.

Learn more and sign up for your training over at https://www.BusinessBuyerAdvantage.com

Cheers

Dave

P.S. The new Financial Forecasting and Business Plan Writing program for 2019 is LIVE.  If you’re interested in learning more, click here to see the recording of my live webcast and learn how to sign up.

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

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

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

Now Live... Bootstrapping your dreams podcast where we talk about selling an online business.

I had a great talk with Manuj about the process of selling and the drivers that make buyers want to buy.

Here are the episode links:

YouTube Link:  https://youtu.be/dp89zuNm8cU

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