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:
Friday, September 27, 2019
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)
#entrepreneurship #smallbiz #familybiz #success
#lamboenvy
Monday, September 23, 2019
Henry Lopez has me back and we're doing something special!
Henry Lopez invited me back to The How of Business. Check out the interview here:
If you'd like to register for the webinar, just use this link: https://zoom.us/webinar/
Wednesday, September 18, 2019
Do ‘Get Rich Quick’ Schemes help you get rich?
Victor in the UK wants to know what I
think about online adverts that promise you an easy online business that will
earn you thousands of dollars each month?
I say- YES!
It’s all true.
But it may not work for you.
Listen as I tell the story of an
outrageously successful business that got its start as a ‘get rich quick’
scheme.
AND- you can see how hard it would be to
do the same.
Learn how to avoid risk by buying a
business that is already successful: https://www.BusinessBuyerAdvantage.com
#entrepreneurship #smallbiz #getrich
#lamboenvy
Monday, September 16, 2019
Would it help if I yelled and called you names?
This is an email that I sent out to my subscribers last week. If you want to get my daily emails, make sure you're signed up. Go to https://www.DavidCBarnettList.com and select your topics of interest.
Would it help if I yelled and called you
names?
I received the following email from one of my
readers up in the thin mountain air of Colorado who meant well but made me feel
kinda icky and gross:
-----------------------------------
Good morning
Dave, you seem like a motivated closer and revenue generator.
May I suggest you look at the [blah blah blah] work that [screaming insult & name-calling guy who has a ‘get rich quick or be a loser’ product for sale] has to offer on Youtube.
May I suggest you look at the [blah blah blah] work that [screaming insult & name-calling guy who has a ‘get rich quick or be a loser’ product for sale] has to offer on Youtube.
No other person
in the world has this knowledge except him at this time. [Is this a fact or an
opinion?]
He lives it to
this day. He was there when the world was just crumbling in the 70's and 80's. He
generated all that he has.
He is the only
man that I know of that never held money for a safe outcome.
I like your style which is who you are.
Go get them!
I like your style which is who you are.
Go get them!
Keep your
letters and positive style coming.
Thank you
Thank you
C. in Colorado
-----------------------------------
[names and
trademarks redacted because I didn’t work this hard for the past few years to
create a platform for talking about other people’s stuff]
I think C. has
misunderstood me.
I am NOT
a motivated closer.
The whole idea
is ridiculous.
I’ve worked my
whole life in sales and never once did I ‘close’ anyone.
The very word,
when used in this context, stinks of manipulation and deception. Getting someone to hand over money for
something because it benefits the seller and not the buyer.
Real businesses
are built on delivering value and problem-solving.
A real business
that endures the test of time provides something people want and people will
ask to be able to buy it.
Don’t you call
and ask your trusted auto mechanic if you can have an appointment to let him fix
your car for money? Think about it.
I’m not a
closer. I’m a guy who helps people
because I’m driven by a mission to help protect people from the dangers of bad
deals.
I create
programs and products that are informative, helpful and of value.
People step up
and buy them when they’re ready and the fees they pay are what they exchange to
me so I can keep doing this for all of you.
Just like the
mechanic has to make money in order to be there when you need him next time.
I and other
helpful business owners create opportunities that people choose to participate
in.
I prefer to
live amongst the civilized.
Cheers
David C Barnett
P.S. The 80’s
were awesome (haven’t you seen the films made in that decade?) and my videos
will continue to be free from name-calling and random F-bombs. Bye.
What are your chances of getting shot down when you fly your P51 into German flak??
This is one of the emails that I sent out in the last little bit. If you want my ideas and insights and promotional offers in your inbox everyday, just sign up at https://www.DavidCBarnettList.com
Do things get skewed if you survive?
I was reading Scott Adams book; How to Fail at Almost Everything and Still Win
Big.
[if you click that link and buy the book, I
earn a shiny dime!]
He’s the creator and writer and artist for
Dilbert. That cartoon about the hellish
corporate world that I know all of you are trying to avoid.
I’m halfway through the book and I believe
it’s awesome so far so I put it in my Amazon Store for you.
In the book, there is a section on
psychology which lists out all the biases that we humans sometimes suffer from.
One of them is Survivorship bias.
It stuck out to me because last week on
September 2nd, Roy H. William’s Monday Morning Memo (a podcast I listen to) was
all about Survivorship bias.
What is this phenomenon?
Roy tells us:
It’s derived from WWII when an analysis was
done of all the fighter planes returning from the Battle of Britain.
The analysis looked at where the most
bullet holes were found to try and improve the planes.
A report detailed the need to add armor and
extra steel to the indicated zones.
Then somebody put their Idea™ jeans on and
realized-
‘These are the planes that survived to
fly back to England, we need to add protection in the other spots
because the planes that got hit there didn’t make it back.’
Smart.
So how can this affect us in buying a
business?
When you hear about amazing successes in
business and about how people did amazingly awesome deals you are likely
hearing a true story.
But you’re hearing from a survivor.
The survivor doesn’t necessarily understand
all the variables that go into success.
Timing and luck are always part of these things.
The survivor looks at his journey and
assumes that his attitude and work ethic are what led him to succeed.
So, he tells you, ‘You just have to be
willing to work harder than the other guy and make more calls. If you are committed and visualize the
outcomes you want then the only way you can fail is if you’re deficient somehow
deep down inside.’
[No particular wantrapreneur guru quoted
there, I made that up]
You’re not hearing from all the other
people who tried to make similar things happen and who failed.
Sometimes miserably.
And here’s the point.
Many of these wantrapreneur gurus advertise
to the ‘get rich quick’ crowd and convince them that business acquisition is a
path to quick riches.
Then they sell them an expensive program.
When the student doesn’t achieve the same
level of success as the teacher, it’s obviously because they didn’t try hard
enough.
If you ask around long enough, you can find
someone you’re connected to who went out to the Hilton Hotel near the Airport
back in 1996 for a two-day seminar in how to get rich flipping bank repo
houses.
It’s the same type of stuff.
In my experience working with business
owners, entrepreneurs and investors, I’ve seen a lot of bad ideas.
I’ve witnessed people failing and I’ve seen
people lose lots of money and time.
That’s why I teach what I do. I’m trying to get people to learn from the
mistakes of others.
Sometimes, people do my Business Buyer
Advantage online course and then write me to thank me.
They say that they learned so much in the
course that they’ve come to realize that buying a business is not for them.
To me, that’s a survivor too.
Business ownership can deliver time
freedom, flexibility, lifestyle choices and, yes, even greater wealth too.
You need to be cautious.
Remember- Warren Buffet will tell you that
to be wealthy, you have to avoid losses.
This is why I don’t advertise to the ‘get
rich quick’ crowd. I promote myself to
people who’ve already realized that they want to buy a business.
I teach them how.
Cheers
Dave
Friday, September 13, 2019
Have you ever thought of leaving corporate to start your own business?
While I don't advocate starting a new business for established people with kids and bills, I sort of did that.
Host David Shriner-Cahn wanted to ask me a few questions about that experience.
You can find it and more interviews in his new podcast- Going Solo.
Wednesday, September 11, 2019
Adam P sells the family bakery in Wisconsin. How to Sell a Small Business.
Meet
Adam P. He just sold his family’s bakery
in Wisconsin.
Buying and selling privately held
businesses is a very private thing.
The terms of the deal are often a secret
FOREVER.
While we don’t talk numbers, Adam was
willing to come on the show to describe the journey he and I took to sell his
family bakery.
This is an example of how things should go
when sellers are properly positioned and prepared to meet the questions of
buyers.
Pay particular attention to how the
relationship evolved between the two of them and how this affected the bank’s
decisions.
#entrepreneurship #smallbiz #familybiz
#bakery #bizforsale
Wednesday, September 4, 2019
September- Adventure is more of what you want- Small Business
September
brings back to school AND changes to the Business Buyer Adventure group
coaching program.
I made
some changes to the program to reflect the different needs of members. I had two goals:
- Make it more accessible for new members who want to try it out.
- Give one-on-one time for people who want greater
access to me.
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
Tuesday, September 3, 2019
Easy guide to DavidCBarnett.com products and services
I sometimes get questions about what course is right for each person.
Here is a 'map' I made of your journey to buy, run and then sell a business.
It shows which books, courses and programs are for you at which stage.
Download a clickable pdf here: https://gum.co/DCBProductMap/free
Here is a 'map' I made of your journey to buy, run and then sell a business.
It shows which books, courses and programs are for you at which stage.
Download a clickable pdf here: https://gum.co/DCBProductMap/free
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