David C Barnett Small Business and Deal Making M&A SMB

Original show notes: ------------------------------------------ Please give a very warm welcome to the show David Barnett. Top 3 Amplifiers: 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 To listen, find other episodes, access the show notes, and find out more go to www.amplifyto7figures.com. Enter the giveaway here: https://amplifyto7figures.com/giveaway Find this podcast on iTunes: https://go.amplifyccom.com/itunes

If I had known this earlier, I would have wasted less time. Sometimes our thinking has biases that we don’t even know are there. When these biases limit our thinking, it can prevent us from seeing the truth. In this week’s video, I explain what I’ve learned over fifteen years that made a big change for me about a decade ago when I look at a business. This tip can save you a lot of wasted time and money. Watch: https://youtu.be/t2a-e68-Y_A Learn how to buy an already-successful and profitable business even in the covid-recession of 2020 https://www.BusinessBuyerAdvantage.com Learn to sell your business https://www.HowToSellMyOwnBusiness.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com business broker smb mergers and acquisitions how to buy a business investor

Original Notes: IN THIS EPISODE, YOU WILL LEARN: 0:00 Introduction 2:23 How David got on the journey of helping entrepreneurs 12:25 Positioning a business to be attractive for buying 15:57 Top 5 reasons why business go for sale 19:30 Mistakes that sellers often make 23:46 The “dream” of selling a small business for $1 million 25:07 Development of small businesses in Canada 30:03 Understanding the terms of sale 37:07 The role that insurance plays in business and transferability 45:10 Who David wants to be a hero to 📌 EPISODE LINKS: Follow David Barnett: Website: https://www.DavidCBarnett.com Twitter: https://twitter.com/DBarnettMoncton Facebook: https://www.facebook.com/DBarnettMoncton Instagram: https://www.instagram.com/dbarnettmoncton/ YouTube Channel: https://www.youtube.com/user/DavidCBarnett 🎙️ WEALTH WITHOUT BAY STREET LINKS: Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass Podcast Website: https://wealthwithoutbaystreet.com/ Follow us on Facebook: https://wealthwithoutbaystreet.com/fb Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall Re-think Your Thinking - The Backwards Bicycle : https://wealthwithoutbaystreet.com/backbike Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here: https://wealthwithoutbaystreet.com/dayofnelson 🤝 Join Our Community! https://wealthwithoutbaystreet.com/community Check out our other Channel for more content: https://wealthwithoutbaystreet.com/bankersvault 📚 IBC RECOMMENDED BOOKS https://wealthwithoutbaystreet.com/books 📽️ WATCH THE DOCUMENTARY Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/ 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/ EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/ EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/ #WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #DavidBarnett

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... The cash flow is not always the cash flow. Paul sent in a question about the difference between Net Income, Cash Flow and SDE. What is the difference and when do we use them? What danger is there when we don’t understand the numbers? Many people mess this up and end up working for nothing in their own business. Watch here: https://youtu.be/E0IEGtsIE1o Learn how to buy an already-successful and profitable business even in the covid-recession of 2020 https://www.BusinessBuyerAdvantage.com Learn cash flow forecasting and business plan writing at https://www.BizPlanSchool.com Learn to sell your business https://www.HowToSellMyOwnBusiness.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com business brokers mergers and acquisitions smb buy a business investing financial statements cash flow statement

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... Asking for 2% more should not be what you’re afraid of. Fear the feeling that you can’t. Eric wants to know about strategies for raising prices in a manufacturing context. A relationship is about value which can be about more than just price. Relationships also mean frequent contact and mutual understanding. If you’re afraid to raise the price, then maybe there’s something else missing from the relationship? Watch: https://youtu.be/np9KDSCUhzw Learn how to buy an already-successful and profitable business even in the covid-recession of 2020 https://www.BusinessBuyerAdvantage.com Learn to sell your business https://www.HowToSellMyOwnBusiness.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com b2b sales b2b sales process smb mergersandacquisitions business broker

Today on The Wealth Secrets Podcast, Sean Adams welcomes back David Barnett, business consultant for small to medium sized enterprises and the bestselling author of Invest Local and other titles. His decades long of combined experience at Yellow Pages, American Express, and business brokerages have made him an expert in business buy and sell, business valuation, and deal making. David shares his tips for how to invest in cash flowing businesses and how to add value as an investor. [03:26] Getting to know David Barnett [08:01] Buying a business VS starting a business [11:41] What to consider before buying an existing business [16:12] Delegate responsibilities not tasks [22:42] Goodwill and how it affects business valuation [34:02] A cash flowing business is an active investment [37:34] Opportunities to improve a business’ underutilized assets [44:39] Where to find investment opportunities The biggest risk in starting a business is the uncertainty of reaching your breakeven point. It’s even more challenging to make a profit. Acquiring a business that has a secure cashflow may be a safer investment decision depending on your financial situation. Before buying an existing business, ask yourself these two questions: What is the cashflow? Will I be able to generate the same cashflow under my stewardship? Answer these questions to determine the returns and risks. An enterprise that doesn’t have standardized processes, manuals, and tools in place will be much harder to take on. On the bright side, you may also view this as an opportunity to acquire the business at a lower cost. Evaluate what other areas of the business are underutilized. Use your skills, knowledge, and resources to make further improvements. Looking for investment opportunities starts with introspection. Create a list of your strengths and expertise. You’ll get an idea of which business and industries will match your skill set. Search for business listings and online databases for the niche you’re interested in. Reach out to the owners of the businesses and build relationships with them and other industry specialists. In time, you’ll find a cash flowing business to invest in that will be a good fit for you. Links and Resources: David’s LinkedIn: https://www.linkedin.com/in/davidbarnettmoncton/ David’s Website: https://www.DavidCBarnett.com David’s YouTube Channel: https://www.youtube.com/user/DavidCBarnett Connect With Sean: Facebook: https://www.facebook.com/profile.php?id=100060279543976 LinkedIn: https://www.linkedin.com/in/leveraged-life/ Instagram: https://www.instagram.com/sean_adams103/ Youtube: https://www.youtube.com/channel/UC0i91Q-fFy70LkaFxvfnGpg For more videos and resources, visit leveraged-life.com. Do you have questions and feedback? Get in touch with Sean Adams through his email: sean@leveraged-life.com.

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... Investing means avoiding speculation, especially if it looks like investing when its not. How can we mentally examine a business idea to see if we’re on the right track or not? In this week’s video, I give a framework of three simple ways to look at a business to help point our the most obvious areas of concern. With forethought, comes the opportunity for preparation which might keep you out of trouble. Watch and I’ll try to ask the right questions: https://youtu.be/0877ElO_cFE Learn how to buy an already-successful and profitable business even in the covid-recession of 2020 https://www.BusinessBuyerAdvantage.com Learn to sell your business https://www.HowToSellMyOwnBusiness.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com business brokers mergers and acquisitions smb mergers & acquisitions

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... You don’t want to waste your time with someone who’s just fishing. Neil wrote in to ask how he can measure if a seller is serious or not when you find a business advertised for sale. It’s all about investment in the process and you can measure this with just a few questions. Watch and I’ll show you how: https://youtu.be/4qoVsmKF8yo Learn how to buy an already-successful and profitable business even in the covid-recession of 2020 https://www.BusinessBuyerAdvantage.com Learn to sell your business https://www.HowToSellMyOwnBusiness.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com business brokers merger and acquisition exit planning smb

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... When it’s too good to be true. Do you believe people will pay money in order to help you get ahead? Do you believe that an opportunity for amazing investment returns will come knocking on your door? Do you believe everything you read and hear? Not only do we need to think about what we’re hearing, we need to understand the motivations of the source. Today’s recording is a little bit different. Watch and learn more here: https://youtu.be/G-2Yc4wRd7M Learn how to buy an already-successful and profitable business even in the covid-recession of 2020 https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com business broker mergers and acquisitions types of mergers and acquisitions mergers and acquisitions for beginners smb

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... How can you exit a business without using a broker? Well, actually, there are a whole list of ways to do it. Keep in mind though, that ‘exit’ doesn’t always mean ‘sell.’ Watch and learn more here: https://youtu.be/33XaNDt7qVc Learn all the ways I can help you exit a business at https://www.HowToSellMyOwnBusiness.com Learn how to buy an already-successful and profitable business even in the covid-recession of 2020 https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.clarity.fm/davidbarnett Stop missing my new videos. Join my email list here: https://www.DavidCBarnettList.com entrepreneurs business broker business brokers mergers and acquisitions smb