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Listen "Preparing Your Business for a Smooth Handoff: A Guide to Profitable Exits | David Barnett | Ep 50"
Episode Synopsis
Owning a small business is challenging, and selling it can be a complex process. Having someone with industry experience in your corner can make a huge difference.
Joining us today is David Barnett, former finance broker turned business broker and then consultant. As a finance broker, he witnessed firsthand the struggles small business owners encounter when buying or selling a business. Now through his consulting, he provides unbiased advice, prioritizing client needs without the conflicts of interest often associated with commission-based brokerage.
David emphasizes the value of strong business connections and highlights the critical factors in a successful business sale: robust cash flow and well-defined, transferable processes that enable a smooth transition for a new owner.
Business Exit Planning
(00:17:41) Maximizing Advertising Content for Successful Sales
(00:22:10) Understanding Business Valuation
(00:33:03) Identifying Transferable and Skill Gaps in Acquisition Strategy
(00:42:11) Systemizing Your Business for Sale
"The minute you decide to sell your business, the business itself becomes a piece of inventory. And you have to make this attractive for somebody to want to pick it up off the shelf and buy it.” - David Barnett
Connect with guest, David Barnett:
Website – David Barnett
YouTube – @DavidCBarnett
Podcast – David C. Barnett Small Business and Deal-Making Podcast
Book – Buying vs. Starting a Small Business: A Guide to Keep You from Going Broke
Book – 21 Stupid Things People Do When Trying to Buy a Business
This podcast is edited and managed by the team at PodcastAbundance.com and we’d love to produce your podcast too! To discuss working together, book a Discovery call with me. www.talktovirginia.com
You’ll find equipment & software recommendations, downloadable templates, and podcasting how-to videos at www.PodcastAbundance.com/resources
Watch everything on YouTube @PodcastingForFinancialPros
Follow Virginia Elder on social media:
LinkedIn
Instagram
To become a guest or find other episodes of Podcasting for Financial Professionals (formerly known as Reaching Abundance), visit www.podcastingforfinancialprofessionals.com
Joining us today is David Barnett, former finance broker turned business broker and then consultant. As a finance broker, he witnessed firsthand the struggles small business owners encounter when buying or selling a business. Now through his consulting, he provides unbiased advice, prioritizing client needs without the conflicts of interest often associated with commission-based brokerage.
David emphasizes the value of strong business connections and highlights the critical factors in a successful business sale: robust cash flow and well-defined, transferable processes that enable a smooth transition for a new owner.
Business Exit Planning
(00:17:41) Maximizing Advertising Content for Successful Sales
(00:22:10) Understanding Business Valuation
(00:33:03) Identifying Transferable and Skill Gaps in Acquisition Strategy
(00:42:11) Systemizing Your Business for Sale
"The minute you decide to sell your business, the business itself becomes a piece of inventory. And you have to make this attractive for somebody to want to pick it up off the shelf and buy it.” - David Barnett
Connect with guest, David Barnett:
Website – David Barnett
YouTube – @DavidCBarnett
Podcast – David C. Barnett Small Business and Deal-Making Podcast
Book – Buying vs. Starting a Small Business: A Guide to Keep You from Going Broke
Book – 21 Stupid Things People Do When Trying to Buy a Business
This podcast is edited and managed by the team at PodcastAbundance.com and we’d love to produce your podcast too! To discuss working together, book a Discovery call with me. www.talktovirginia.com
You’ll find equipment & software recommendations, downloadable templates, and podcasting how-to videos at www.PodcastAbundance.com/resources
Watch everything on YouTube @PodcastingForFinancialPros
Follow Virginia Elder on social media:
To become a guest or find other episodes of Podcasting for Financial Professionals (formerly known as Reaching Abundance), visit www.podcastingforfinancialprofessionals.com
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