Monday, April 29, 2024

LIVE - Getting Credit in your Business Name Without a Personal Guarantee with Andrew Cervenka


New Livestream guest- Andrew Cervenka

I’m happy to have Andrew join me on a live broadcast.

Andrew and team have been helping small businesses establish trade credit and corporate creditworthiness for years.

Tune in and as we’ll be discussing what it actually means to develop corporate credit and why you might want to.

This is a ‘must see event’ for business owners that are worried about all their personal guarantees on all the credit products their business uses.

Be sure to join live so that you can ask questions, replay will be available.

Set yourself a reminder on YouTube here: 

We’ll be going live Monday April 29, 2024

See you there!

David C Barnett

Saturday, April 27, 2024

The Saga of the Burnt-Down Pizzeria: A Lesson in Franchise Realities

This week, a return to the saga of the burnt-down pizzeria. 

Watch the full video here:

Picture this: a determined entrepreneur, let's call him G, embarks on a journey to fulfill his dream of business ownership. With aspirations of success and a drive to maximize profits, G ventures into the realm of franchising, purchasing a pizzeria franchise to kickstart his entrepreneurial journey.

For nearly two decades, G poured his heart and soul into his franchise, dedicating countless hours to ensure its success. From prepping ingredients at the crack of dawn to minimize labor costs to navigating the complexities of running a business, G's commitment knows no bounds.

However, life has a way of throwing curveballs when least expected. Amidst plans to relocate closer to family, tragedy strikes. A fire engulfs G's beloved pizzeria, reducing it to ashes in a matter of moments. Devastated but undeterred, G resolves to rebuild and move forward.

In the midst of chaos and uncertainty, G reaches out to his franchisor seeking support and guidance. After all, isn't that what being part of a franchise family is all about? Unfortunately, what he receives is a cold reminder of the harsh reality lurking beneath the surface.

Instead of expressions of concern or offers of assistance, the franchisor's response is a stark reminder of the transactional nature of their relationship. No inquiries about G's well-being or plans for rebuilding, just a cold, calculated reminder of contractual obligations and financial dues.

In that moment, G's illusion of belonging to a franchise family shatters. He realizes that he's merely a revenue stream, a means to an end for the franchisor. The warm and fuzzy rhetoric of franchise unity dissipates, leaving behind a bitter taste of disillusionment.

But G is resilient. He navigates the aftermath of the fire, tidies up his dealings with the franchisor, and moves forward with a newfound understanding of the franchise landscape. While still part of the franchise system, G no longer harbors illusions of camaraderie or familial bonds.

So, what's the takeaway from G's ordeal? It's a sobering reminder that behind the facade of franchise unity lies a business relationship governed by contractual obligations and financial interests. While franchises may espouse the rhetoric of family, the bottom line often takes precedence.

If you want to delve deeper into the realities of franchising, from the pitfalls to the perils, I invite you to explore "Franchise Warnings." Available on Amazon in Kindle, paperback, and PDF formats, it offers invaluable insights gleaned from years of firsthand experience in the franchising world.

Thanks for tuning inks. 

After all, in the world of franchising, it pays to be discerning.


David C Barnett

P.S. Don’t forget to join my email list so you never miss any of my new videos 

Wednesday, April 24, 2024

Dealing with Business Brokers


***New Video Alert!

How do you know if the broker you’re dealing with knows what they’re doing?

It’s important.

A broker who is a novice may not have properly prepared the seller.

This can lead to lots of time being wasted and reasonable deals being declined.

Learn more by watching this week’s video: 


See you over on YouTube

David C Barnett

Saturday, April 20, 2024

Empowering Your Business: The Power of Incentivized Compensation


Intricacies of purchasing a business and the strategic importance of hiring the right managers to steer its course. Building upon that foundation, let's delve deeper into the crucial aspect of incentivizing your workforce to ensure their interests are aligned with the company's objectives.

Imagine this scenario: Your business operates in a sales-centric environment where hourly wages have been the norm. While this model may have served its purpose in the past, dwindling margins necessitate a paradigm shift. Enter the era of commission-based structures.

Allow me to illustrate this with a real-world example of a business that underwent a transformative change by reevaluating its approach to hiring and compensating its workforce. Previously, they relied on a large team of hourly-wage employees to handle customer interactions, with the hope that sales would cover the costs. However, as margins tightened, profitability became increasingly elusive.

Recognizing the need for change, they transitioned to a commission-based sales force, granting employees greater autonomy and flexibility in their work arrangements. No longer confined to the traditional office setting, employees were empowered to work from home or wherever they pleased, driven by the promise of earning based on their performance.

The results were nothing short of extraordinary. By aligning compensation with performance, the company attracted a new breed of motivated, self-directed individuals who thrived on the opportunity to control their earning potential. Freed from the constraints of hourly wages, employees embraced their roles with renewed vigor, leveraging their networks and creativity to drive sales and revenue.

But the benefits of incentivized compensation extend beyond the realm of sales. Whether it's frontline customer service or backend operations, aligning employee interests with company goals fosters a culture of accountability and excellence. By rewarding initiative and results, businesses cultivate a workforce driven by ambition and passion, propelling them towards collective success.

However, it's crucial to tread carefully when implementing incentive structures. Lessons learned from past missteps, such as the Wells Fargo scandal, underscore the importance of maintaining integrity and ethical conduct at all times. Incentives should never incentivize unethical behavior, as this can erode trust and tarnish the reputation of the organization.

In closing, the journey to aligning operator interests with company goals is one paved with innovation, adaptability, and foresight. By embracing the power of incentivized compensation and fostering a culture of excellence, businesses can unlock the full potential of their workforce, driving sustained growth and prosperity.

I invite you to share your thoughts and experiences on this topic in the comments below. Let's continue the conversation and learn from each other's insights.

Download my incentive-compensation checklist here-> DOWNLOAD

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David Barnett

Wednesday, April 17, 2024

Sell a customer list

***New Video Alert!

What if you have a very small business?

Even just yourself.

How can you go about getting the best value for your biggest asset?

Your customer list.

I explore it in this week’s video here: 


See you over on YouTube

David C Barnett


Saturday, April 13, 2024

Delving into the Entrepreneurial Journey of Ryan Duffy's Franchise Venture

Today's story originates from a unique sale involving a Ryan Duffy’s franchise in Saint John, New Brunswick, intricately linked to the legendary creation of the Donair in Halifax, Nova Scotia.

This particular deal was structured through seller financing for $400,000, highlighting the often complex and underexplored aspects of buying businesses. Unfortunately, the new owner defaulted on payments, leading to legal actions and the establishment's eventual closure. This situation sheds light on the risks of seller financing and the importance of realistic, sustainable negotiation terms.

From this transaction, we can glean several critical lessons for prospective business buyers. First, the importance of due diligence cannot be overstated. Understanding the financial mechanisms and terms of a deal is crucial. Secondly, the art of negotiation is key—terms should be fair and manageable. Finally, the story underscores the unpredictable nature of business ownership and the need for careful financial planning.

Remember, knowledge is your best asset in navigating the business world. Stay informed, stay engaged, and never underestimate the value of a well-negotiated deal. Cheers to your business success, and feel free to share your experiences and questions. Let’s keep learning together.

Never miss any of my small business content by ensuring that you’re on my email list. Sign up at 

Wednesday, April 10, 2024

Grow your SMB


***New Video Alert! What does it cost to grow a small business? Where do you start? More sales? Run some advertising? You start with a plan. Watch. Watch this week’s video here: v Cheers See you over on YouTube David C Barnett

Saturday, April 6, 2024

Unlocking Success: The Power of Business Systems

This week I've been asked a question by Anton a Few Years Ago, just give me more videos about business systems. So I'm gonna do just that.

Firstly, it's crucial to understand that every functioning business inherently operates on systems. Whether it's handling customer transactions, managing workflows, or delivering services, systems form the backbone of operational efficiency. But here's the kicker: it's not just about having systems in place; it's about documenting them comprehensively.

Imagine a scenario where anyone, from a new employee to a seasoned manager, can seamlessly step in and understand how things work. That's the power of documented systems. Whether it's a detailed manual, an instructional video, or a simple checklist, effective documentation ensures clarity and consistency in execution.

When clients reach out for assistance, I don’t leave anything to chance. From the initial inquiry to the final service delivery, each step is meticulously outlined and communicated. By documenting both internal processes and client expectations, I ensures a smooth and transparent experience for all parties involved.

But why stop there? Documenting processes isn't just about clarity; it's about accountability. By tracking every action and milestone, businesses can hold employees responsible for their tasks. Whether it's initialing completed assignments or signing off on deliverables, accountability loops ensure that standards are met and deviations are addressed promptly.

Moreover, documented systems pave the way for continuous improvement. By tracking performance and identifying bottlenecks, businesses can refine their processes to boost efficiency and productivity. It's a cycle of optimization that fuels growth and success.

My journey with business systems isn't just theoretical; it's grounded in real-world experience. From running a junk removal business to coaching aspiring entrepreneurs, I witnessed firsthand the transformative power of well-documented systems. And now, I’m sharing my insights and expertise through courses like "Build a Business that People Will Wanna Buy," empowering small business owners to implement effective systems and unlock their full potential.

With that, let's embrace the journey of business systemization and chart a course towards success. Until next time, stay inspired, stay informed, and keep thriving in your entrepreneurial endeavors.

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Download our FREE business systems visioning tool. Click here.

Wednesday, April 3, 2024

IP and Brand value in small business


***New Video Alert!

So, is a 100-year-old company with a well-known brand worth more?

What about if there are over 1000 names on the past client list?

Does a special trade secret make a business worth more?

Today, we uncover value drivers that many sellers love to tell you about…

Watch this week’s video here: 


See you over on YouTube

David C Barnett