I was invited to join Paul Ace on Amplify to 7 Figures to discuss buying and selling businesses.

 

Listen to our discussion about the following:

1. Defining a small business

2. Why buy a business over starting a new one

3. Common mistakes to look for when buying a business

How to Build a Team to Buy a Business- How to Buy a Business- David C Barnett

Brandon wants to know how to build a team to buy a business.

It’s a great question because this is a project one doesn’t do alone.

There are lawyers, accountants, brokers, appraisers, etc. All kinds of people to help you get the job done.

The problem that I see, however, way too often is people who are hiring ‘experts’ without properly checking out whether they know their stuff or not.

In this week’s video I explain, for example, why not all accountants are up to the task of helping you buy a business.  Watch and find out what I’m talking about.

Watch the video here: https://youtu.be/RXIlyXrGj5Y

My online course discusses team building at length.  Learn more at www.BusinessBuyerAdvantage.com.

Teams are only one aspect of the complex task of buying a business.  My comprehensive program has been used by hundreds of people and I have yet to meet a dissatisfied customer.  There’s no risk at all for you to enroll as the program comes with a 30 day money-back guarantee.  You can see how my whole buyer system works in this video from a few weeks ago: https://youtu.be/ooixMSaFf6Y

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

I’m coming to Toronto on May 10, 2017.  Seats are already filling up.  Find my current and future live events here: http://davidbarnett.eventbrite.ca .    

Thanks and I’ll see you next time.

Stephane visits the banker. How can he prepare to ask for a business purchase loan?

How many at-bats can you get with your banker? Better be prepared!

This week’s question comes from Stephane who wants to know how best to prepare for speaking to a banker about a business acquisition loan.

It’s much like everything else in life, there’s preparation, then lots of practice.

This means studying your forecasts and the subject business and industry.  Reading and learning lots.  Maybe a speech to your cat on the topic.

If you’re setting yourself up for life as a business owner, then you should have people around you to help ‘play banker’ and get you ready.  If not, then a membership application to the Kiwanis, Rotary or another club may be in order.

When it comes time to speak to your first banker though, many people haven’t thought of this preparation trick that I’ve used for years.  I made a video to tell you all about it.  Watch here: https://youtu.be/RZt7rOhLrWo

Learn how to buy a business at www.BusinessBuyerAdvantage.com where you can access tons of information and enroll in my online course.

In fact, I often tease and poke fun at people who claim to want to buy a business who seem unwilling to invest a few hours into learning how to do it correctly.  I mean, come on, seriously?  (The course works out to less than $20/hr. and comes with a 30 day money-back guarantee!)  You can see how my whole buyer system works in this video from two weeks ago: https://youtu.be/ooixMSaFf6Y

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

Sign up to my e-mail list on the left of the screen. Easy unsubscribe at any time as I use MailChimp.

I’m coming to Charlottetown, Prince Edward Island in January 2017 and Saint John, NB on March 1st.  Seats are already filling up.  Find all my live events here: http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time.

Chris Buys a Construction Company - Watch out for this Hazard- How To Buy a Business

My first viewer question of 2017 is from Chris who plans to buy the construction company he currently works in. 

I still need more questions for my weekly e-mails so if there’s anything you’d like to ask, please put it in the comments or send me an e-mail.

Chris and his boss have decided to wait until February to begin their discussions since this is when business will be slower and he and the owner will have more time.

Chris is busy doing research about how he could improve the business after he is the owner.  He wanted to ask what kinds of things he should be doing.

Having lots of ideas about how you’re going to improve a business you’re going to buy is a great idea.  I’ve often said that the future is the reason why you want to buy a business; to improve it and make it more valuable.

There are certain dangers, however, in getting excited about a business that isn’t quite yours yet.  Learn my concerns in this video I made: https://youtu.be/wowZG3yFqLk

My biggest piece of advice for anyone who wants to buy a business is to learn how such deals are done.  Many people think they know what to expect but after doing a few dozen transactions myself and advising on over a hundred more I can tell you that most people are unprepared.

Learn how to buy a business at www.BusinessBuyerAdvantage.com where you can access tons of information and enroll in my online course.

In fact, I often question the seriousness of people who claim to want to buy a business who seem unwilling to invest a few hours into learning how to do it correctly.  (The course works out to less than $20/hr.)  You can see how my whole buyer system works in this video from last week: https://youtu.be/ooixMSaFf6Y

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

Go to www.DavidCBarnett.com and sign up for my weekly e-mail to receive my videos three days before they go public as well as other exclusive offers. Easy unsubscribe at any time as I use MailChimp.

I’m coming to Charlottetown, Prince Edward Island in January 2017 and Saint John, NB on March 1st.  Seats are already filling up.  Find all my live events here: http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time.

Stoopid Rules of Thumb. The Story of the 5X Accountant. How To Sell a Business

Yes, I know how to spell ‘stupid,’ please don’t e-mail me.

I’m cranky and sore and upset.  I’ve got a cold and an ear infection. 

What makes me more cranky and upset is when I hear the same poor advice about rules of thumb for pricing small businesses being passed around again and again and again.

This week I tell the story of the old accountant who told me once in a workshop, ‘Businesses sell for 5 times their cash flow.  Those with real estate sell, those without don’t.’

Simplistic rules of thumb like this one guarantee only one thing… mistakes are being made and it’s costing someone dearly.

I explain why those with real estate sell, those without don’t in this video and the answer will make you sick to your stomach if you happen to be a business owner who could have fallen victim to this kind of advice.  Watch it here: https://youtu.be/ck_AmnOIzDE

If you own a business and will want to sell one day, you need to educate yourself about how this process works and give yourself time to get ready.

Learn what’s involved in selling your small business.  Take my 3 hour online course at www.HowToGetOutOfMyBusiness.com or buy my Amazon best-selling book; How To Sell My Own Business.  Available from Amazon.com or Amazon.ca  

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com 

I’m coming to Charlottetown, Prince Edward Island in January 2017.  My live events always fill up fast.  Find all my live events here: http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time. 

Buy a Business with No Money?!? Part II. How to Buy a Business

I made this video a few weeks ago to explain the different scenarios that someone might conceivably buy a business with no money and the dangers for the buyers and sellers in each. Watch: https://youtu.be/NVTgDT7Cc2g

Cody, one of my viewers, sent in this thoughtful question in reply to the video:

Hello David, thanks for all the videos. Have a question: I have heard of people buying businesses through 100% financing, but not technically no money down.

So they first go to a lender and borrow against the assets of the business to raise cash, which they then give some or all that cash to the seller, as a down payment.

Then they get the Vendor(Seller) to carry some kind of financing on the rest, the seller is in a junior position to the lender in case the business fails.

In theory this should work great, the seller will get about as much cash at closing as they would if the seller liquidated.

Have you heard of this?

Does it work?

If it does work, is it easy to put together?

If it does not work, why not?

Great questions Cody! 

The problem with this scenario lies in two places… are we actually talking about buying a business or just a collection of assets?  The reason I ask is that if a seller is happy receiving an amount which approximates a liquidation then we’re not receiving operating capital or paying for goodwill.

If there is no goodwill value, is the business a profitable money maker?

Also, if you’re buying this as your first business then what would your opening balance sheet look like?  The banker will want to see.

I must admit though, this strategy would work for a different kind of buyer.  See my video response to learn who could pull this off. Watch: https://youtu.be/xZqJTa_YZj4

For a full education and help on buying a business, visit www.BusinessBuyerAdvantage.com

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself just to the left of this post.

My fall season live events are filling up fast.  Find all my live events here: http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time.

How to we evaluate buying PART of a business? How to Buy a Business

I received a question from one of my viewers in South Carolina.  Ben has an opportunity to buy part of a business and wants to know what he needs to do to figure out what it’s worth.

Splitting up businesses is a funny thing.  Usually businesses want to combine to realize synergies. 

Think of two companies merging and eliminating some of the administrative staff.  The result of the merger should be lower overheads as a percentage of sales.

I made this video to discuss what happens when you start splitting things up: https://youtu.be/zrKQWzxN58w

So if you buy part of a business and this leads to dis-synergies how do you figure out what a part of the business is worth?  Well, all you can rely on is the sales figure.

Start by taking the sales of the existing company for the department or product lines that you’re going to be acquiring, then build yourself a new income statement.

Be prepared for a tough negotiation though, the parts may often be worth less than the whole and the sellers expectations may be very different from yours.

For a full education and help on buying a business, visit www.BusinessBuyerAdvantage.com

To learn how I can help you sell your business yourself, visit www.HowToSellMyOwnBusiness.com

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com  If you need my help with your project, give me a call at (506) 381-8416.

Do you live in the Maritimes?  I’ve got workshops coming up on buying and selling businesses in the fall.  Book now http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time. 

'Just put in more money' - The truth about increasing equity when buying a business - David C Barnett

The seller's accountant Says, ‘You just need to put more money in.’ 

I have a client who is negotiating for a business which is overpriced. 

He’s demonstrated that the business will not cash flow for him after servicing debt and taking a reasonable salary for the value of his work.

The seller’s accountant has said, ‘the buyer just needs to put in more of his own money.’

I made this video to show how that doesn’t make sense at all: https://youtu.be/vTsIwe_If88

It’s got a little math, but it’s not too difficult.

The point of the matter is that equity (a business owner or buyer’s cash) actually demands a higher rate of return than debt.

This is because it’s riskier.  Lenders get paid first in the event of a liquidation.

If you put in more of your own money, you actually need an EVEN HIGHER rate of return.

Watch the video.

For a full education and help on buying a business, visit www.BusinessBuyerAdvantage.com

To learn how I can help you sell your business yourself, visit www.HowToSellMyOwnBusiness.com

If you’d like to learn how to create high returns by making local private lending and lease deals, check out http://www.LocalInvestingCourse.com The Local Investing Academy enrollment is from September 26 to October 10 only. 

For a quick introduction, read Invest Local.  It’s available from Amazon stores worldwide or as a .pdf here: https://gum.co/quoB

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com  If you need my help with your project, give me a call at (506) 381-8416.

Do you live in the Maritimes?  I’ve got workshops coming up on buying and selling businesses in the fall.  Book now http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time. 

What I see in the Market for Small Businesses - Buy a Business - Sell a Business

Well, spoiler alert, there is no market for small businesses.

I made this video to explain why. https://youtu.be/aOFhyYjFoYc

You see for a ‘market’ to exist, you need many buyers, sellers and a product or commodity.  For example, there is a market for 4-door used cars and a market for 3-bedroom homes in each town and city, but small businesses are very individual.  They’re unique.

Therefore, they each have their own market!

In the video I give an example of the process engineer who will never buy the highly profitable flower shop.  I used to see it all the time when I owned my business brokerage.

As far as pricing goes, it doesn’t change much over time except if certain industries are perceived to be more or less risky.  Business are valued on their cash flow and what the buyer is willing to pay is based on their perception of the risk that the cash will continue to flow into the future.

There is one exception though.  It’s an old story about market manipulation.

I’ve seen first-hand that government programs meant to encourage immigrant investors are causing price bubbles in certain categories.  Convenience stores, franchise food locations, Laundromats, gas stations.

Anywhere someone with limited English can run a simple business and quickly learn enough words to make change and serve customers.

I recently worked on a case where a newcomer was willing to overpay by 40%... because he was up against a time-limit and if he didn’t buy a business he would lose a $75,000 deposit that he had made to get into the country.

Welcome to Canada, let us into your wallet.  I bet he feels all warm and fuzzy about igloos, beavers and maple syrup.

Just like in any market where politicians and civil servants decide to meddle, an artificial urgency has been created and business sellers are taking full advantage of these victims created by government policy.

For a full education and help on buying a business, visit www.BusinessBuyerAdvantage.com

To learn how I can help you sell your business yourself, visit www.HowToSellMyOwnBusiness.com

If you’d like to learn how to create high returns by making local private lending and lease deals, check out http://www.LocalInvestingCourse.com The Local Investing Academy starts in September.  For a quick introduction, read Invest Local.  It’s available from Amazon stores worldwide or as a .pdf here: https://gum.co/quoB

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com  If you need my help with your project, give me a call at (506) 381-8416.

Do you live in the Maritimes?  I’ve got workshops coming up on buying and selling businesses in the fall.  Book now http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time. 

Ed asks: What would David look for in a new franchise opportunity? How to Buy a Business - How to buy a franchise

Ed recently downloaded a copy of my 2015 Best-seller, Franchise Warnings from www.franchisewarnings.com

He wrote me an e-mail saying that he was looking at franchises and enjoyed the book.  He thought that the central theme of the book was ‘do your homework.’

It’s not.  The book’s purpose was to dispel the myth that buying a franchise is less risky than starting a business from scratch.  Watch the video here: https://youtu.be/JUItDU5cn-E

Ed also asks what I would look for if I were buying a new franchise.  Interesting question.

My first idea is that I would want a fee based franchise over a royalty based one.  It allows you to grow the business and keep more of the gravy for yourself.

Secondly, I would need to ensure that the business systems were actually provided and worked well.  I know of a two franchises who provide no operating manual and one where the systems are very poor. (I’m sure they’re not alone.)

For my third item, watch the video ;)

To learn more about buying a business, visit www.BusinessBuyerAdvantage.com

If you’d like to learn how to create high returns by making local private lending and lease deals, check out http://www.LocalInvestingCourse.com The Local Investing Academy starts at the end of September.  For a quick introduction, read Invest Local.  It’s available from Amazon stores worldwide or as a .pdf here: https://gum.co/quoB

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com 

Do you live in Toronto or the Maritimes?  I’ve got workshops coming up for Toronto in September on buying and selling businesses and in October-December in the Maritimes.  Book now http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time. 

How to Buy a Business with NO MONEY- Should you? David C Barnett

How to buy a business with NO MONEY?

I’ve gotten some questions from viewers asking how they could buy a business with no money. 

There is a belief out there that if you can structure things correctly, it’s possible to buy a profitable business while using none of your own money.

I’ve done deals where a buyer borrowed all the money to buy a business, but they did so by putting up some personal assets as collateral.

I’ve done deals where a buyer gets a seller to essentially finance 100% of the purchase, but the buyer was using lots of their own money to improve the business with a short timeline to re-financing it. 

In both cases, we can hardly say that the buyers had ‘no money.’  They certainly had resources to help them make the deals happen.

I made this video to explain the different scenarios that someone might conceivably buy a business with no money and the dangers for the buyers and sellers in each. Watch: https://youtu.be/NVTgDT7Cc2g

In asset purchases, the danger for a buyer, even if there is no down-payment, is that there will be insufficient operating capital and you’d be in a cash flow crisis from day one.

In share deals, if there is a net-positive operating capital balance, the buyer could fleece the company and run away with cash and the seller would be left with nothing.  Who would put themselves in this kind of position other than a parent handing over a business to a child?

The one opportunity for buyers to get their hands on a business with ‘no money’ is usually when there is negative equity.  Watch the video to see my thoughts on this.

If you’d like to learn how to create high returns by making local private lending and lease deals, check out http://www.LocalInvestingCourse.com The Local Investing Academy starts in September.  For a quick introduction, read Invest Local.  It’s available from Amazon stores worldwide or as a .pdf here: https://gum.co/quoB 

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up just to the left of this post.

Do you live in Toronto or the Maritimes?  I’ve got workshops coming up for Toronto in September on buying and selling businesses and in October-December in the Maritimes.  Book now http://davidbarnett.eventbrite.ca

Thanks and I’ll see you next time. 

Why do some business sellers make you WAIT so long for info? How to Buy a Business - David C Barnett

Why does the seller make me WAIT so long for information?

I got a call from a client the other day.  He’s been trying to decide if he wants to pursue a business that is rumoured to be for sale.

I say ‘rumoured’ because it certainly doesn’t seem like it’s for sale.  The owner says he wants to sell, he speaks highly of the business and its potential, but he just won’t hand over the information the buyer is asking for; the latest financial statements.

What on Earth is going on? I explain the possibilities in this video: https://youtu.be/BwNY7cpSZhI

The first thing that is obvious is that this seller hasn’t read my best-selling book; How to Sell MyOwn Business. If he had, he would know that you never go out looking for buyers and talk with them before you’re completely prepared to answer all their questions and you’ve got your ‘package’ together. 

Putting together Confidential Business Profiles is part of what I do for my clients.

From the seller’s perspective here’s what may be going on:

1. There may have been a pressing emotional or personal need which pushed the owner to decide to sell and this need may no longer be so aggravating.
2. If the business is profitable, then the longer the seller delays the sale, the more money they make in the interim.
3. There may be some pressing business needs that require their attention in the present, selling the business may actually be a ‘side project’ and doesn’t get the proper attention.
4. Outside advisors or service providers like accountants may not be available because of workloads or vacations.

Let’s be clear, any delays caused by the seller are not good for the deal. They upset the buyer and buyers can be hard to find.

One of the hazards of this scenario is that the more a buyer follows up and ‘chases’ the seller, the more the seller may begin to think that the buyer is in love with the business.

This can cause them to believe they can get more money for the business.  As a buyer, this is bad.

So stop it.  Stop following up, emailing and calling the seller continuously.  Slow down. Look at other businesses.

One of the problems from a buyer’s point of view is that they may be imagining themselves as the owner.  They start to get excited and REALLY want to buy the business NOW. 

This is called Buyer Fever and it’s a very dangerous illness.  It can cost people hundreds of thousands of dollars in over-payments when it leads them to make bad deals and not do proper due-diligence.

If you’d like help to buy or sell a business, call me at (506) 381-8416 or visit www.HowToSellMyOwnBusiness.com or www.BusinessBuyerAdvantage.com

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up just to the left of this post.

Do you live in Toronto or the Maritimes?  I’ve got workshops coming up for Toronto in September on buying and selling businesses and in October-December in the Maritimes.  Book now http://davidbarnett.eventbrite.ca

If you’d like to learn how to create high returns by making local private lending deals, check out http://www.LocalInvestingCourse.com The Local Investing Academy starts in September. 

Thanks and I’ll see you next time.

Buying assets vs. buying shares - How to Buy a Business, How to Sell a Business

When buying or selling a business, a common question that comes up is whether to buy or sell the shares or the assets of the business.

For some people who are not familiar with this, the concept can be hard to grasp.  That’s why I made this video to explain things in simple terms: https://youtu.be/HgDLgwbXgj0

Here’s an illustration.  Imagine that Mark owns a lawn maintenance company; Mark’s Lawns Inc.  Mark’s Lawns Inc. owns a tractor.

If you wanted to get into the lawn maintenance business you could buy Mark’s Lawns Inc.  The ownership of the tractor doesn’t change.  It was and still is owned by Mark’s Lawns Inc.  In this case, the seller is Mark.  He’s selling the shares of the corporation to you.

The other way to buy the business would be to buy the tractor.  In this case, Mark’s Lawns Inc. is the seller.  The ownership of Mark’s Lawns Inc. doesn’t change.  Mark will still own this corporation after the transaction, the only difference is that the company will have money in it instead of a tractor.

Because corporations are people under the law, a share sale makes a new owner subject to liabilities to past events.  An attorney will do their best to structure warranties to try to protect a buyer but at the end of the day, a share sale could expose a buyer to unwanted liabilities.

Asset sales are technically just the purchase of ‘stuff.’  In this regard a buyer doesn’t necessarily have to worry about most of the past issues with the corporation.  Also there are usually tax advantages for buyers who buy assets because equipment that may have been fully depreciated by a seller may now appear on the buyer’s books at fair market value and can be depreciated again by the buyer.

Seller’s know this and there is an equal tax disadvantage vis-à-vis depreciated equipment.  Also, in some places, such as Canada, there is preferred tax treatment on the sale of shares of an eligible corporation.

So when people ask me if they should buy or sell shares or assets I tell them this: Buyers should try to buy assets, sellers should try to sell shares but at the end of the day it doesn’t matter.

The type of transaction will form part of the negotiation. 

Let me give you a simple example.  A seller wants $250,000 for their business.  A buyer offers $200,000.  The seller says that they can’t go that low unless the buyer is willing to purchase shares… a deal is struck.

The tax advantages/disadvantages of either form of sale are known by both parties and can sometimes be estimated by both parties.  As such, it just comes down to dollars and cents in most cases.. unless there are specific reasons to buy shares such as contracts, government regulation, etc… but that is a subject for another day.

If you’d like help to buy or sell a business, call me at (506) 381-8416 or visit www.HowToSellMyOwnBusiness.com or www.BusinessBuyerAdvantage.com

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up to the left of this post in the form.  

Improve your business each and every day, download my FREE daily cheat sheet and hang it in your work area to keep yourself focused. https://gum.co/15Questions/FREE 

Do you live in Toronto?  I’ve got workshops coming up for Toronto in September on buying and selling businesses.  Book now, there isn’t much room left..  http://davidbarnett.eventbrite.ca

If you’d like to learn how to create high returns by making local private lending deals, check out http://www.LocalInvestingCourse.com The Local Investing Academy starts in September. 

Thanks and I’ll see you next time.

How to push your business' 'self-destruct' button... You can ruin everything really fast! David C Barnett

How to Sell a Business – Keeping it a secret

One of the most distinct aspects of the market for small businesses is that it is a secret one.  The worst thing that a business owner can do is publicize the fact that their business is for sale.

Telling people that you want to sell your business is like pushing the ‘business self-destruct’ button.

If any of the following stakeholder groups finds out that a business is for sale, the business could be ruined and all that an owner has worked for could be destroyed:

• ·         Employees
• ·         Customers
• ·         Suppliers
• ·         Lenders
• ·         Competitors

I explain why secrecy is so important for each group in this NEW video: https://youtu.be/m0wWErgtlM0

I also explain what business for sale really means to 95% of the population.

Let me give you a little info on each one:

Employees: If they think change is coming, they may bail.  The best employees always have available opportunities with competitors.

Customers: If you deliver in the future or people rely on a warranty, they won`t have any faith in your future if they find out you’re for sale.

Suppliers: If these guys think there`s something wrong say `goodbye` to your trade credit.

Lenders: I’ve had more than one client have their credit line cut when their banker found out they were for sale.  I explain why in the video.

Competitors:  These guys will use anything they can to steal business.  News that a business is for sale will help them sew doubt in the minds of prospects.

If you want to learn how I help my clients advertise their business for sale confidentially, check out www.HowToSellMyOwnBusiness.com

There are plenty of FREE resources there to help you begin planning your transition out of your business.

Please remember to like and share this article, it’s the only way the people who run the internet have of knowing if the content is any good or not. The more you share, the more likely someone who needs this information will be able to find it.

If you would like to hear from me weekly before anyone else, you can sign yourself up at www.DavidCBarnett.com 

Do you live in Toronto?  I’ve got three workshops coming up for Toronto in September.  Book now to get summer special ticket pricing.  http://davidbarnett.eventbrite.ca Some sessions have fewer than 20 seats left. Learn more about these workshops in this video: https://youtu.be/l2T3pwr9lkw

Thanks and I’ll see you next time.