The Long Game Buying vs. Building a Business (with David Barnett)
Feb 20, 2026
David Barnett, an experienced business buyer, seller, and advisor, shares hard-earned lessons from dozens of small-company deals. He contrasts buying versus building, warns about overpaying and bad deal structure, and explains what makes acquisitions work: the right industry fit, realistic financing, and systematizable operations. Practical cautions about licenses, seller behaviors, and partner dynamics keep things grounded.
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Three-Year Sale Rollercoaster
- David sold a fried-chicken franchise three times over three years with two deals collapsing at the last minute.
- He earned large commissions but had terrible cashflow and left brokerage for banking.
Let Your Business Become The Acquirer
- If you own a profitable business, build a formal acquisition program to grow via buy-and-build.
- A stronger balance sheet and speed let you act when fair-priced targets appear.
Know Your Business Valuation And Sellability
- Get a proper valuation and test sellability before relying on a future exit.
- Build wealth during operations and don’t assume a sale will solve retirement planning.