21 Stupid Things People Do When Trying to Buy a Business

Learn How to Avoid These Awful Novice Mistakes

By: David Barnett

Narrated by: David C. Barnett

Length: 59 mins

Publisher's summary

Want to break free of the shackles of your employee life? Want to control your own destiny and set your own hours, priorities and life direction? Simple, become an entrepreneur and start a business!

Don't like the risk of starting and want to buy a successful business instead? Okay, just don't do these stupid mistakes that I see novice business buyers make over and over and over again.

Every day thousands of really awful businesses go up for sale, and thousands of good businesses go up for sale with outrageously inflated asking prices. Many of these businesses will sell to people who simply have no idea what they're getting into and don't know how to get the right guidance or advice. Invest some time and learn from the mistakes that I've observed through my years as a business broker and private sale transaction adviser. You really can learn from other peoples' mistakes and make yourself a better deal; or know when to go home and leave your money in the bank.

©2016 David C. Barnett (P)2017 David C. Barnett

Short, Easy, and Impactful

This is a GREAT introduction to the topic. Lots of powerful nuggets every 2-3 minutes, enough to make you aware and then add to a checklist to do further digging.

Buy copies for your acquisition targets!

Great info, and bang on. Having been through several acquisitions, and dozens of " potential" ones, I wish more buyers and sellers had common sense. This book will help both sides to become more enlightened.

Short but sweet

This is a short book but it packs a punch! I’ve done several acquisitions now and have pretty much learned most of this stuff through trial & error. Mostly error. But even with experience it’s useful to have common mistakes summarized in an accessible format. Recommended for anyone with any interest in small to mid-market business ownership.

Super and concise

Short and to the point. I’d have loved more examples and how he did the math

Short and sweet..

Short and simple, straight to the point. No back stories or going around the bush. Please read this before buying a business.

Worth the listen!

Excellent, concise explanations with examples. Every concept is explained simply and clearly with example, both good and bad to support each point. If you are considering buying a business listen to or read this book.

Insightful

Great introduction to the topic of small business acquisition. That is 45 minutes of sound practical advice. Author takes Ten minutes at the end selling other products he has but that’s fine since it is a different chapter from the book itself.

Excellent Resource

As somebody currently in negotiations for a business this has given me a lot more to think about and concerns to bring forward. Thank you!

Just What I Was Looking For.

Finally, someone who appears to shoot it straight. I will repeat this audiobook until absorption. I may buy the physical copy of the book as a companion to highlight text or take notes. Thank you David C. Barnett.
If you are thinking of buying this book and you are buying or aspire to buy a business, this book is a good start. It’s easy to do something stupid or careless because of lack of knowledge. So many people want to sell you on what you can do and avoid telling you of potential pitfalls, consequences, and things that would be unwise. This book gives you a heads up on actions you should avoid if you want to buy and own a business intelligently and dispels a few beliefs about being a business owner that people have probably picked up from those who didn’t know better, or who were unlearned and inexperienced. I will assume this book is good for experienced people as well. I don’t see why not. If you are a novice, this book is a must have. There is no question about that. It definitely surpasses the guys that just want to sell you a book just to build their own passive income.

Excellent for Business Acquisition

This book is a great reminder that your business is an investment. How to value the money you put in, and get your invested capital back out of the business. He is a straight talker, which is great to ensure you frame the business acquisition in a way that will reduce buyer's remorse, and hopefully, set realistic expectations about the acquision and your life thereafter. This is a great audiobook particularly if you need to set your emotions aside and get into critical thinking mode. Your expectations that now may seem a "stretch" probably are not. This book teaches you that and gives you the basis to assertively ask more questions and demand more from your money.