Next Level Income to 7 Figures with guest David Barnett
Hairstylist Empowerment Podcast
HAIRSTYLIST EMPOWERMENT PODCAST I Next Level Income to 7 Figures with guest David Barnett David Barnett: David’s passion for business is infectious! Spending the earlier part of his career working for some of the worlds leading salons in England, Ireland and New York City, this led to David opening his own salon with his wife Nicole, in Northern California. Under David & Nicole's leadership, Brush Salon rapidly became a highly profitable, million dollar business with multiple stylists earning six figures behind the chair. This led David to what he feels is his calling, business coaching. David and Nicole sold their salon to focus 100% on coaching other salon owners and stylists to great success! Their programs, The High Performance Stylist (HPS) and The 7 Figure Salon have become renowned as one of the most effective business coaching systems in the industry today. David has appeared on stages, sharing his insight and strategies for global brands throughout Europe, America and Dubai. His latest project, The High Performance Educator (HPE), partnering with world renowned educator Chris Moody, is a vision of the future. HPE shows stylists how to transform their skills & knowledge into a dynamic online class that can lead to a primary or secondary, lucrative career as an educator. David can be contacted through Facebook or Instagram @highperformancestylist. To learn more about High Performance Stylist go to www.joinhps.com To learn more about High Performance Educator go to www.highperformanceeducator.com Social contacts: Facebook - @highperformancestylist @davidbarnetthair Instagram- @highperformancestylist Website links: HPE- www.highperformanceeducator.com HPS- www.joinhps.com Watch Conversation Herehttps://www.youtube.com/watch?v=YOJti_g2AFM--- Send in a voice message: https://anchor.fm/hairstylist-podcast/message
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 opportunitiesThe 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/DavidCBarnettConnect With Sean:Facebook: https://www.facebook.com/profile.php?id=100060279543976LinkedIn: https://www.linkedin.com/in/leveraged-life/Instagram: https://www.instagram.com/sean_adams103/Youtube: https://www.youtube.com/channel/UC0i91Q-fFy70LkaFxvfnGpgFor more videos and resources, visit leveraged-life.com. Do you have questions and feedback? Get in touch with Sean Adams through his email: firstname.lastname@example.org.
David has been working with small businesses for over 20 years. He’s helped them grow, he’s helped entrepreneurs buy and sell them, he’s helped people finance them. David is the author of 8 books about small business transactions and local … Continue reading →
354 – Bad Funding Choices for Small Business with David Barnett
Debt Free in 30
The economic shutdown has been costly for small businesses. If you’re an owner concerned about the future health of your business, what should you do? Sell your business? What are your options if you have a lot of business debt? On today’s podcast, David Barnett, a business broker, returns to discuss how COVID-19 has impacted small businesses and why some businesses are having a harder time selling than others. He also shares strategies some companies have deployed to stay afloat during the pandemic and advice to avoid bad business funding choices. David also explains the sunk-cost fallacy and recency bias to help you understand whether it’s financially worthwhile to maintain your business. Tune in for lots of practical advice! Related Links: Debt Traps of Buying a Business with David Barnett: https://www.youtube.com/watch?v=-HbW9ww2BNg David Barnett’s Website: davidcbarnett.com and https://www.investlocalbook.com/ David Barnett on Twitter: https://twitter.com/DBarnettMoncton
784: Smarter Than a Startup: Buy, Manage and Run a Business the Risk-Reduced Way with David Barnett
Marketer of the Day with Robert Plank: Get Daily Insights from the Top Internet Marketers & Entrepreneurs Around the World
In this episode of Marketer of the Day, we have David Barnett, an author, speaker, educator seminar host, consultant, and a business buy and sell coach. He guides people all over the world who want to buy or sell companies. David has written a variety of books and educational courses for small businesses. One of his books has become a best-seller on Amazon. He also consults with company leaders on how to develop their operations, administration, and processes. In this episode, we'll talk about how to start a company, get started, and cope with mistakes business owners make. We'll also go into the advantages of owning a company and how the pandemic changed the business world.ResourceDavid Barnett's Official Website David Barnett's LinkedIn URL: https://www.linkedin.com/in/davidbarnettmonctonDavid Barnett's Amazon Book/Podcast:
About this episode This week's episode my guest this week is David Barnett the inventor and founder of PopSockets, now I know you know what a PopSocket is because they just sold their 200 millionth grip. The brand PopSockets are so much more than just the accordion PopGrips they launched with. PopSockets now have an entire catalogue of products that are all designed to increase the functionality of our devices. In fact, this past March Fast company honored PopSockets as one of the most innovative companies in the world. Now here's the crazy part about the PopSocket story, did you know that it all started while David, who was a philosophy professor at the time, got tired of having his earbud cord get tangled. In fact, he first tried to solve his problem by gluing buttons on the back of his iPhone 3. But before we can even get to the part where he glues buttons on his iPhone 3, we need to start about 20 years earlier to fully understand where his journey begins. In this episode, you'll hear: David shares how he was not raised by entrepreneurs but did take to being an entrepreneur at the early age of 12. How at the end of High school he turned to having fun and had no big plans apart from business in the future. He took philosophy course at collage then went to physics as he enjoyed it. David share that he was working as a Philosophy Professor when he stumbled across a problem with his iPhone earbuds that kept on tangling. This sparked his entrepreneurial flare to start PopSockets. He explains how he first tried to solve this problem by sticking buttons to his phone case. David shares that when he showed the product to people they laughed and dismissed him but this only drove him to want to do it more. David shares how he wanted his Kick Starter Campaign to stand out so he made a dance video. How he launched his company in 2014 and it had a lot of traction. How he had many issues with the manufacturer, who would change the pattern of the design without tell him and deliver the wrong product. He shares how as the company was growing it changed from just being a side business to being his full-time job. How the impact of celebrities and middle school children were pushing the rapid growth of the product. How he didn’t have a buyer persona and everyone with an iPhone was his customer. He shares how he did no marketing or advertising and the business at the begining was very scrappy. David shares how he would go to consumer market shows and pitch to everyone walking past. This got his foot in the door with Sam’s club,Best Buy and T-Mobile. He shares that his first big break was T-Mobile, which had a huge operational impact of the company. David shares how he sold their 200 millionth grip the 7th year of business and was names the 2nd fasted growing company with a growth of 72,000% David shares how trade shows really helped his success and got him on the map. He shares the positive impact of influencers and the companies first influencer was Jenna Marbels How he hired people in the beginning with no business experience but people who could solve problems David shares how Plant based PopGrips are currently being made. These pop sockets will be 100% decomposable and the ingredients they use to create them are grown by them He shares the technology side of Pop Sockets with their app. Resources from this episode Join Grindology: https://grindology.com/ ExpressVPN: Get 3 Months Free → https://www.expressvpn.com/startupstory Get Emails: https://app.getemails.com/referrals/newaccount?ref=R18HWW5 The Startup Story Inner Circle: https://www.thestartupstory.co/vip The Startup Story on LinkedIn: https://www.linkedin.com/company/thestartupstory The Startup Story is now on YouTube: https://www.youtube.com/jamesmckinney The Startup Story on Instagram: https://www.instagram.com/thestartupstory Sponsor Movo: https://movo.cash/ Pop Socket website - https://www.popsockets.com Pop Socket app - https://apps.apple.com/us/app/popsockets-make-print-art/id1455513437 Kickstarter video https://www.youtube.com/watch?v=35CFb9q1rJw Share the podcast The Startup Story community has been so incredible sharing our podcast with others, and we thank you! We do have more stories to tell and more people to reach. There are three ways you can help. First, the most powerful way you can support this podcast is by leaving a review on Apple Podcasts or wherever you listen to podcasts.
David Barnett – 21 Mistakes to Avoid When Buying a Business
My Worst Investment Ever Podcast
BIO: David Barnett is the author of 21 Stupid Things People Do When Trying To Buy a Business. Presently he works as a private transaction advisor with people buying or selling a business.STORY: We get a preview of his book as he takes us through the top 5 stupid mistakes people make when buying a business.LEARNING: David shares a host of lessons for people trying to buy a business. “If something looks like a really good deal and you don’t know about that industry, ask yourself why isn’t somebody else in this industry picking up this company.”David Barnett Guest profileDavid Barnett loves to say that it took him 10 years to un-learn what he was taught in business school. University had trained him to be a middle manager in big enterprises, and he was unprepared for the realities of small business.After a career in advertising sales, David started several businesses, including a commercial debt brokerage. Helping to finance small and medium-sized businesses led to the field of business brokerage. Over several years, he sold dozens of businesses for others while also managing his own portfolio of income properties and starting his career as a local private investor.David regularly consults with professionals and banks on business and asset values. Presently he works as a private transaction advisor with people around the world who are buying or selling a business. Find him at Davidcbarnett.com.Worst investment everIn this episode, we will jump straight to the top five stupid mistakes that people make when buying a business, as explained in David’s book 21 Stupid Things People Do When Trying To Buy a Business: Learn how to avoid these awful novice mistakes. Then we will look at some of the things that Andrew takes away from the interview.Lessons learned1. Failing to understand how businesses are valuedA lot of small business owners and potential buyers do not understand that it is not the business that is being bought or sold; it is the cash flow. So when purchasing a company, find out how much cash flow it is generating, then ask yourself as a buyer, what are you willing to pay for that cash flow, given your ability to run the business.Also, when looking at growth opportunities, while there could legitimately be an opportunity, do not pay the seller for it because you are the one that has to do the work to deliver the result, not the seller.2. Failing to account for the value of the buyer’s laborMost people will be very optimistic about a business’s cash flow, and they will not put a high enough price on their own time when they are examining the business.3. Failing to account for the value of capitalPeople always forget that they need a return on the cash they put in the deal. When you put money that you have saved up over years or decades into an acquisition, you need to get an adequate rate of return on that equity you have put in.4. Overcommitting projected free cash flow to debt serviceGo for a business with a much greater debt service coverage ratio because the last thing you want is a cash crunch that bleeds out your free money.5. Failing to adjust for operating capitalMany small business owners are experts at what they are doing, but they are not financial professionals. So they fail to generate optimized balance sheets.Andrew’s takeawaysCashflow growth depends on your effort, not the sellerWhen you buy a business, you buy two things; the existing cash flow and growth in that cash flow. So your job is to keep that cash flow growing.Focus on the net profitWhile other metrics can be helpful, net profit gets straight down to the bottom line.Three ways to make money from your businessThere are three ways to get money out of a business: pay yourself a salary or some type of compensation, embezzle, and dividends.Three important components of cash flowThere are three components of free cash flow; core profitability, investment in working capital, and Capex (capital expenditures, fixed assets).Actionable adviceIf you are selling your business, do a high degree of due diligence on whoever you will be working with to help you with the process. This is because there are a lot of really awful business brokers who are giving people bad advice. Look at the person’s history, what they’ve done, how long they’ve been in it, and talk to some of their past clients.If you want to invest in a particular business, you should know how it works and what it is like to be in it.No. 1 goal for the next 12 monthsDavid’s number one goal for the next 12 months is to get another 10,000 subscribers on his YouTube channel because his mission and what drives his business is to help people avoid dumb business deals. The biggest problem is ignorance, and David can solve that just by creating awareness and teaching people.Parting words “Business is risky, but it is still worth pursuing. Just do what you can to avoid the losses.”David Barnett [spp-transcript] Connect with David BarnettLinkedInTwitterBlogWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast
Today: David Barnett, former syndicated radio host and current co-founder & co-host of Tour Junkies. Tour Junkies is a golf fantasy & gambling show. This podcast was a top mover in the world of golf as one of the first 3 golf shows to discuss fantasy and betting, and they created a national following from here in Augusta Ga! Click the episode because it's golf week and this conversation is great, stay to hear us talk about the Nut Hutt and all about their brand! Check Out Their Website Presented By Nancy Powell Real Estate Broker @DowntownAugustaBroker (Nancy20201!) DropTheDis Question Presented by Tranter Grey Media (TranterGrey.com) Community Partnership: TheClubhou.se at the Cyber Center & Augusta Podcasts, LLC. Beer is Brought to You by Savannah River Brewery (Follow them on Facebook!) SavannahRiverBrew.Com Also Featuring: The Little Guide to Augusta, @AllEqualParts, 2nd City Distilling & Durty Gurl Cocktail Mixers. Want to Support the Show & Get Free Stuff & Cool, Unique Bonus Content? Check out our Patreon! Learn More and Shop Merch @ AugustaPodcasts.com Produced at Augusta Podcasts Studio
David Barnett is guest on John Martinka's Getting the Deal Done.
David C Barnett Small Business & Deal Making
John had me on his show which can be found and I'm happy to share with all of you....John's show notes-David is the author of eight books on business buying and selling plus a YouTube channel with hundreds of episodes.He specializes in Main Street businesses, which he defines as those with EBITDA of under $500,000 and in this episode he discusses the positives and negatives of buying and selling companies in this size range. These are really businesses in need of an owner-operator.David also covers:Buyer mistakesEarning definitionsSeller misconceptionsProvides a great success story (with it's ups and downs)You can find out more about David at www.davidcbarnett.com or on YouTube. #davidbarnett, #@dbarnettmoncton
BGBS 045: David Barnett | Popsockets | Surprisingly Useful
Baby Got Backstory
BGBS 045: David Barnett | Popsockets | Surprisingly Useful From “after-school sports dork” to CEO of Popsockets, David Barnett left a ripple in the world with an invention that revolutionized how we hold phones. And to think it was originally made out of glued clothing buttons. By accomplishing his purpose of increasing people’s happiness, even [...]Read More...