David C Barnett Small Business & Deal Making

Sieva Kozinsky reveals how anyone can buy their first business and quickly grow it to a $500,000 income… but does the plan make sense? Well, it’s hard to know. 10,500 people seem to like the advice. I’m getting old, so I’ve seen many deals and have some experience. Let me show you how I deconstruct this advice and see if it really plays out the way the author says. You may be surprised to learn that things on the Internet are not always what they seem. I explore the nitty-gritty of this advice and determine if it really makes sense or not in today’s video: https://youtu.be/K89r4TNebFE Other videos mentioned in this recording: Why SDE is not Cash Flow: https://youtu.be/E0IEGtsIE1o Pay for Potential, Blue Sky: https://youtu.be/INMiJJbXrZw Dead Capital in a Business: https://youtu.be/kHnIh6HM840 David and Warren Buffet Duel over Depreciation: https://youtu.be/_S2m1dieX6w Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Bo

Do you want to exit your business and still earn income? Why is documenting systems the key to making a business sellable? Why should you consider your business as an asset and not a life role? In this podcast episode, I speak with, Ron and Lexie Lee about how to build a sellable business.

Chris sent me an email asking about whether fast-growing companies were extra-risky? Well, it depends on where the growth comes from. But, there is another risk in buying a fast-growing company. The risk that if the deal doesn’t close quickly, the seller will second-guess the price and/or other factors. I get deep into the ‘it depends’ weeds on this week’s video…: https://youtu.be/9tSTgnUiReg Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: https://www.JeffAlpaugh.com/DCB10

I suggested a few weeks ago that a reason NOT to buy a business was because you could make as much or more money by NOT being the owner. Let me explain… This week I’ll explain 4 different ways that non-owners can make more money, potentially, than business owners from a business. While the other benefits of freedom, control, etc may not be there for some of these strategies, they also don’t usually involve any investment risk. Please comment on YouTube if you’ve seen some of these strategies in action. Check it out in this week’s video: https://youtu.be/JUW51CmJ9hs Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: htt

I respond to some YouTubers who say that you need to have a cutthroat mindset to make it in business. I disagree. I think this attitude will sink your long-term prospects in business. Except, if you operate under some specific circumstance. Instead, I give you my thoughts on the kind of attitude that pays off in business. Check it out in this week’s video: https://youtu.be/3dv8PC8aEVo Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: https://www.JeffAlpaugh.com/DCB10

New Livestream guest

Dave asks me via email if seasonal businesses sell for more or less and if the timing of the transaction is important. They can sell for a different price, but it may surprise you how and why. And Yes, people do usually want to buy them in the off season. The terms as well can be interesting. Learn more in this week’s video: https://youtu.be/iGukyXIzSXQ Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: https://www.JeffAlpaugh.com/DCB10

I appear as a guest and discuss making waves with mindset. Pay attention to the discussion at the end about 'putting yourself in the path of opportunity.' ------------------------------- Find full show notes here: https://www.buzzsprout.com/1812446/10426476

Brian says I inspired him to get started to buy a business. Was I pumping SME ownership too hard? Of course, I start out with one about being lazy. But there are many more problems that I’ve seen over the years. Egos can be a problem, but so can altruism and trying to save the world. Learn more in this week’s video: https://youtu.be/LXwH2evmork Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: https://www.JeffAlpaugh.com/DCB10

Why is it important to understand how people were duped by these online content creators who appeared to offer a great deal. Find the news story here: https://www.cbc.ca/news/canada/saskatoon/epic-company-collapses-real-estate-500-homes-1.6399770 While this article is about real estate, it is important to understand for anyone who consumes online small business content. The parallels are striking and there are operators just like this in the world of small business online. Learn to spot the signs that something may be a fraud. Learn more in this week’s video: https://youtu.be/KIxFZ8RTX-w Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a spe

New Livestream guest Lisa Forrest, Director of Seachfund Lending at Live Oak Bank. Find Lisa online at Lisa.forrest@liveoak.bank I’m happy to have Lisa Forrest join me on a live broadcast. Lisa has over 30 years of experience writing loans under the US Small Business Administration’s (SBA) loan programs. Tune in and as we’ll be discussing some of the misunderstood features of these loans and answering some viewer questions that have been submitted over the last two weeks. This is a ‘must see event’ for anyone who is buying a business in the US and may want to take advantage of the different SBA loan programs. Be sure to join live so that you can ask questions, replay will be available. We’ll be going live Monday, April 18, 5pm Eastern Time. See you there!

Azul says that when he adds the Enterprise Value to the Retained Earnings the price seems too high. But David, you ask, if there is a bunch of money and other assets in the company that Azul is buying, shouldn’t the seller get paid for that? Yes, if there truly is an excess. It all comes down to normalizing the balance sheet which is something very few people in the small business space know anything about. You see, what we really need to know is what the Normal Net Position in Working Capital should be, then we can get to work. Learn more in this week’s video: https://youtu.be/2vN8I_uxHE0 Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a

Monday at 5pm Eastern time, The Franchise Guide- Giuseppe Grammatico joins me for a live discussion about what has changed since the lockdowns. What new types of franchises are coming out? Who is struggling to make it? What have franchisors done to make a difference? I’ll share some of the interesting things I’ve seen in franchised businesses lately and see Giuseppe thinks. Find Giuseppe online at https://www.ggthefranchiseguide.com

Sam has a business in the UK which handles a lot of cash. Should he launder it? I’ve seen a lot of ‘shenanigans’ with cash in businesses over the years. Should business owners declare all this cash as income? Should they steal it away to buy new sneakers? Should they learn how to do ‘money-laundering?’ What does this kind of behaviour do to the value of their business and the terms of sale? Learn more in this week’s video: https://youtu.be/o_fvGBBTxBA Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: https://www.JeffAlpaugh.com/DCB10

Link made a comment that brokers hinder rapport building. Is it true? Rapport and trust building is necessary for a deal to be formed. Do business brokers hinder this? Or- does it matter who you’re dealing with? Is it better to only look at non-brokered deals? I handle this and more on this week’s video: https://youtu.be/8cugZCg1Cqc Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: https://www.JeffAlpaugh.com/DCB10

Hassan and Papi Shampoo want to know about how business deals are closed. What happens for the ‘closing’ of the deal? Do we need a lawyer? Where does the money go and how does it move? Who are the other players at closing and how does it change from one place to another? Great questions. This week we learn all about the process of closing on a business we’re buying whether we’re using a lawyer or not. Learn more in this week’s video: https://youtu.be/CSTyykXMiGc Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpaugh Customs has a special offer for you: https://www.JeffAlpaugh.com/DCB10

Learn about different deal structures at https://www.BusinessBuyerAdvantage.com Learn about selling a business at https://www.HowToSellMyOwnBusiness.com Learn more and join my email list at https://www.DavidCBarnett.com YouTube viewer BehindTheLast wants me to discuss royalties just like Mr. Wonderful. Kevin O’Leary loves royalties on Shark Tank. Can this method be applied in the purchase of a small business? Great question. This kind of tool has its ups and downs. Use it when you both disagree on whether the business will have ups or downs. Learn more in this week’s video: https://youtu.be/n_1YDEW1joQ Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.clarity.fm/davidbarnett Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com Want to look dangerous like David? Jeff Alpau

Visit the podcast homepage here: https://ggthefranchiseguide.com/podcast/self-reflection-analysis-about-what-knowledge-and-skills-can-be-leveraged-when-getting-into-business-ownership/ Orignial Notes: Join your host Giuseppe Grammatico with his guest, David Barnett. In this episode, David analyzes skills and experiences to discover what areas, industries, or types of businesses are suitable for someone. He provides actionable steps to list down all roles, responsibilities, and duties a person had and assess that to extrapolate the business that best suits them. In this episode you will learn: Self-assessment to know the business that fits you Issues like risk adversity when an owner is not for the business What is changing in an industry amid the pandemic? Why small businesses have relatively low multiples How to know when markets are saturated About David Barnett: Barnett loves to say that it took him ten years to unlearn what he was taught in business school. Although university had trained him to be a

Watch on Youtube: https://youtu.be/OgzWAUmdYl8 Join my Email list at https://www.DavidCBarnettList.com Learn to buy a business at https://www.BusinessBuyerAdvantage.com Find more great content on my blog at https://www.DavidCBarnett.com An anonymous viewer wants to know when he can start his next business. I’ve met many serial entrepreneurs over the years. One who actually had started over a dozen businesses over 40 years! This week’s question is about what needs to happen in order for someone to be ready to move on to the next business. Also, does it even make sense? Would a person be better off just selling and moving on? Learn more in this week’s video: https://youtu.be/OgzWAUmdYl8 Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.CallDavidBarnett.com Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: h

Join that list: https://www.DavidCBarnettList.com Find books: https://www.amazon.com/shop/davidbarnett Buy a business https://www.BusinessBuyerAdvantage.com ----------------------------------------------- Jeremy, a lawyer, wants to know if it makes sense to offer payment plans to customers. As far as I’m concerned, payment terms are a part of the price. Price is one of the 4Ps of marketing. So, the real question is… What am I selling and who does it appeal to and what is that person’s financial position? Watch this week’s video here: https://youtu.be/CseXZMOUOiA Find my books and others I like in my Amazon store over at https://www.amazon.com/shop/davidbarnett Learn how to buy an already-successful and profitable business even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.clarity.fm/davidbarnett Books can be found in my Amazon store: https://www.amazon.com/shop/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarn