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

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

Join Yat-Long and I as we cover some exciting drama and tell you about some amazing features we have planned for the summer. -1st travel experience since the 'rona -Near death experience in a flooded elevator -The minivan saga -Xmas in the summer -Weight Loss Challenge -Small Business Systems https://www.EasySmallBizSystems.com The video about ROI Lies is here: https://youtu.be/74ISnsgtwlM

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... Will a 229% ROI make you want to do this deal? I was asked my opinion on a widely publicized book about buying businesses. It’s got a big fat problem. The author overstates the rate of return and potential benefit of buying a business. Instead of just being critical, I take his example apart and show you step by step what is wrong with it. Check out my outrageous opinions in this week’s video: https://youtu.be/74ISnsgtwlM Learn to make cash flow forecasts and business plans at https://www.BizPlanSchool.com Learn how to buy an already-successful and profitable business in a risk-reduced way even in the covid-recession 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 brokers mergers and acquisitions return on equity return on investment smb

https://mitchrusso.com/ https://clientfol.io/client/ Mitch Russo has founded and sold businesses and been active as a business coach since the 90's. He's even worked with Tony Robbins. In today's broadcast, we're going to discuss some of the lessons he's learned and learn about how his coaching business has created the foundation for another software business. The longer you're in business, the more opportunities you see. Subscribe to my email list https://www.DavidCBarnettList.com

Listen to my fun conversation with Ryan Condie as we dive into… — Don’t Start a company from scratch, Buy a Foundational Company First — How to get a deal done — Cash Flow Forecasts — Buyers and Sellers need to Collaborate — SMB’s are barely away from falling off a cliff… For more information about this episode, check out Ryan's website: https://www.letsbuyabusiness.com Learn how to buy an already-successful and profitable business in a risk-reduced way even in the covid-recession https://www.BusinessBuyerAdvantage.com Book a call with me at https://www.clarity.fm/davidbarnett Join my email list here: https://www.DavidCBarnettList.com

https://www.BusinessBuyerAdvantage.com https://www.HowToSellMyOwnBusiness.com Learn more at https://www.DavidCBarnett.com Related article... Paul’s journey to learn the Jedi arts… Paul reached out to me to find out where he needs to go in order to learn about the trade of business brokerage. I take some time to review the experience, skills and resources any person would need to be successful as a business broker. With particular attention to how and from WHOM you should gain some real-world experience. Check it out in this week’s video: https://youtu.be/0qd6xRNN-I4 Learn how to buy an already-successful and profitable business in a risk-reduced way even in the covid-recession https://www.BusinessBuyerAdvantage.com Learn how to Sell a business. https://www.HowToSellMyOwnBusiness.com Learn how to make really amazing cash flow forecasts and business plans: https://www.BizPlanSchool.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 Mentioned in Video: https://www.HowToGetOutofMyBusiness.com Find my books at https://www.Amazon.com/shop/davidbarnett https://www.ibba.org https://businessbrokeragepress.com My life as a business broker: https://youtu.be/LsieCGOiS9I business brokers mergers and acquisitions smb