556: Buy the Right Business with David Barnett
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 • 522 Ratings
🗓️ 17 February 2025
⏱️ 52 minutes
🧾️ Download transcript
Summary
David shares expert insights into buying and selling small businesses, highlighting why acquiring an existing business can be faster, easier, and less risky than starting from scratch.
Show Notes Page: https://www.thehowofbusiness.com/556-david-barnett-buy-right-business/
Thinking about buying a business but unsure where to start? In this episode, David Barnett, business consultant, author, and expert in small business acquisitions, joins Henry Lopez to share practical strategies for buying and selling businesses successfully.
David explains why acquiring an existing business is often faster, easier, and less risky than starting from scratch, how to find the right business to buy, and common mistakes to avoid when structuring a deal.
David also breaks down key financial considerations, including seller financing, avoiding excessive debt, and ensuring cash flow sustainability. Plus, he shares insight into how to identify a motivated seller and why the so-called "silver tsunami" of baby boomer business sales may not be what many expect.
"It's not about just getting the deal done - it's about ensuring you don't overpay and that the business will actually work for you after the purchase." – David Barnett
Whether you're a first-time buyer or an experienced entrepreneur, this episode is packed with actionable insights to help you make smarter business decisions and avoid costly mistakes.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com
Transcript
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| 0:00.0 | Welcome to the how of business with your host, Henry Lopez, the podcast that helps you start, run and grow your small business. |
| 0:13.4 | And now here is your host. |
| 0:15.6 | Welcome to this episode of the how of business. |
| 0:18.0 | This is Henry Lopez and my friend and repeat guest. David Barnett is with me |
| 0:23.3 | again today. Welcome, David. Henry, have I earned the jacket yet? Is this the fifth time? You, |
| 0:29.0 | this is the fifth time. So you do get a jacket, yes. Awesome. You've gotten to pin before, |
| 0:34.0 | but now you upgrade to the jacket. Absolutely. You're very, very rare company, |
| 0:38.7 | but yes, you are, sir. So David, obviously, I've known for a long time. In fact, I was looking |
| 0:43.7 | it up, you, this is the fifth appearance. In fact, you first were on episode 99, mind you on, |
| 0:49.8 | I'm on episode 550 now back in April of 2017 when you were a young man. |
| 0:56.5 | Yes. |
| 0:57.1 | It was a while ago. |
| 0:57.6 | I probably wouldn't be recognized by many people, though, because I think I've lost a few pounds since then. |
| 1:03.0 | You look marvelous, but no, you've seasoned well, and now you have even more knowledge |
| 1:09.5 | about buying and selling businesses, amongst other things, but that tends to be one of the specialties. |
| 1:15.3 | And I happen to be looking potentially this year to buy another business. |
| 1:20.9 | So I'm going to be asking these questions for my selfish interest. |
| 1:25.0 | But David's going to share his guidance and thoughts and tips. He's got a new book, as you can see in the background. For those of you who are watching the video, buying versus starting a business, we're going to chat about that. And so also, if you want to find any of the resources that I have at the Howa Business, including the show notes page for this episode, and to find out more about by one-on-one |
| 1:44.5 | and group coaching programs, just visit the howabusiness.com. |
| 1:48.5 | I also invite you to please consider supporting this show on Patreon and subscribe |
| 1:52.5 | wherever you might be listening so you don't miss any new episodes. |
| 1:56.1 | Let me tell you briefly about David Barnett. |
... |
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