Robert Gale has Bought or Invested in Over 20 Distressed Businesses | How To Buy a Business

[@bstancel12]

How does this video not have more views? Great interview. Just recently found this channel. Really wish there was content like this earlier in my entrepreneurial career. Great work, keep it up!

[@DavidCBarnett]

Brad, we don’t let just anyone watch this stuff. It’s a very exclusive channel 😉

[@deez6005]

Very good video. Can you interview more people like this who had several businesses and sold them off? I think it’s pretty much the obvious and few legit ways to become truly wealthy. Great channel btw!

[@DavidCBarnett]

Great suggestion!

[@IIC-GusBadran]

Great interview. Learnt about it from your 4 SMB Hosts Talk Deal Making and the Market - Will Smith, Ryan Condie, Jared Krause,

[@DavidCBarnett]

Yes, there's lots of great conent in my older videos. Enjoy.

[@trong9402]

Brilliant stuff. Fantastic interview. Thanks from Aus

[@DavidCBarnett]

Glad you enjoyed it!

[@osman_wants_speed]

Great interview David! Robert has a lot of valuable real world experiences to share.

[@DavidCBarnett]

Thanks, this was a fun interview.

[@victor7530]

Thanks David. A lot of useful information especially about how important pivoting is. Interesting point too about the dumpsters and how they were sent to be melted down to avoid them becoming an asset for a potential competitor.

[@DavidCBarnett]

Thanks Victor. I'm glad you enjoyed it. I think there are a lot of entrepreneurial insights here.

[@rahshenbarber3909]

Great talk.

[@DavidCBarnett]

Thanks

[@walterthekingboi]

Sounds like a nice twist on business consulting. This guy seems to always be ahead of the curve! Like the responsibility verbiage on his website. When business is good, we all win! Owners are people too and we all could use help, got to be open to the help though.

[@DavidCBarnett]

I knew you'd all enjoy it! Cheers

[@LeffHynebridge]

I don't know Robert, but gosh darn it I like him!

[@DavidCBarnett]

Yeah, he's a thinker for sure.

[@rhondathornton5188]

Really great interview! 😁

[@DavidCBarnett]

Thanks so much, Rhonda!

[@NolaWarrior]

Insightful conversation. Thank you both!

[@DavidCBarnett]

Thanks Stephen. I had a lot of fun in this conversation.

[@theonlyalexoliveira]

It’s funny how people think about willingness to help in regards to age. “Oh, you’re young and have more than enough time to make up for any mistakes, let me help you”… Oh, you’re old and you really need this to work because you don’t have time for more mistakes? Too bad, you’re probably somehow to blame for not being successful by now. “just look at how the government structures programs. Why is there an age limit on new business funding in some programs? Literally why?

[@DavidCBarnett]

Usually because they feel the younger people have been disadvantaged.

[@gagelujan6624]

Might you have a video with someone experienced in the oil business?

[@DavidCBarnett]

I do not. But it's a good idea.

[@trujefe7367]

David, when a buyer buys distressed businesses. Does he also take a base salary to cover living expenses or just equity?

[@DavidCBarnett]

Usually the distressed business has a cash flow problem. Owner salaries often come after the 'fix.' Another reason it's risky.

[@richardheighington]

How do you convince a business owner that clearly doesn’t know what they are doing to sell or walk away? Is it just a waiting game?

[@DavidCBarnett]

Sometimes. Sometimes people are 'paralyzed in their pattern' and require an outside intervention to stop. Like having cheques bounce. So, sometimes you can show them where they're headed. I've had more than one business person ask 'what do I do to actually stop?' it's a tough place to be.

[@bryanbell9103]

Great content 👍

[@DavidCBarnett]

Thanks Bryan.

[@Greg_Chase]

"I went into the mobile sign business with my brother" - unfortunately it did not work out. Not too many businesses work and you put at risk the relationship. "Never go into business with friends and family" You think you know someone. But when money becomes an element in a relationship, it brings out behavior in them not seen before. When I've turned it down and been asked 'why', "It's because I value our relationship too much to put it at risk if something goes wrong in the business." If they don't understand that, give them some cooling-off time and they'll come back and say 'you were probably right, I wouldn't want to risk the relationship either' But it's hard to turn it down because you think you know them. You don't. Money changes people. .

[@DavidCBarnett]

Family business is tough. Just look at those pawn shop guys in Vegas on TV!

[@JavierBonillaC]

Like Marcus Lemonis (The Profit), some people have the ability to buy businesses that they can turn around through measures that in hindsight seem "common sense" but in reality are visionary. It's a fascinating world.

[@DavidCBarnett]

What I learn from people like Robert is to ask silly questions. Such as, how could we get this for free? Or, what is the customer's biggest problem buying from us? (I thought the toll free number for the taxi co. was a huge idea for the era before cell phones.)

[@JavierBonillaC]

@@DavidCBarnett I agree, those were most interesting examples, the weater jug handle and the taxi phone. :)

[@mdsumonmahamud7951]

Nice

[@DavidCBarnett]

Thanks Md

[@sangvo3667]

Aint no body watch this!

[@DavidCBarnett]

You need to share it more ;)

[@TheMidasTouch11]

Great video!

[@DavidCBarnett]

Glad you enjoyed it