David C Barnett Small Business and Deal Making M&A SMB David Barnett Main Episode Audio
Feb 20, 2026
David C Barnett, a private transaction advisor and former broker and banker, shares hard-earned lessons from buying, selling, and financing small businesses. He explores pipeline structure, vetting inventory, aligning seller expectations, and shifting from transactional to trusted advisory work. Expect practical takes on specialization, non-contingent fees, and old-school outreach.
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From Finance Broker To Business Broker
- David C Barnett left finance brokerage after seeing badly structured deals and people ruined by poor advice.
- He trained as a business broker, ran an office, closed 35 deals, then left the industry after repeated long deal droughts.
Contingency Model Causes Cashflow Rollercoaster
- The contingency-only commission model creates a brutal feast-or-famine cashflow for brokers.
- That pressure prevents many brokers from gaining experience and drives high turnover in the profession.
Charge For Non-Contingent Services
- Charge non-contingent or retainer fees for buyer services to stabilize income between closings.
- Use fixed-price projects like attorneys/accountants so clients know deliverables and you get predictable revenue.
