Preparing Your Business for a Smooth Handoff: A Guide to Profitable Exits | David Barnett | Ep 50
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
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