David C. Barnett

Exactly.

Yeah. So run your business clean. So everybody wants to put personal expenses in their business because they want to maximize their lifestyle advantages. And then when they try to sell their business, they want to then say, oh yeah, but we need to add back, you know, my daughter's cell phone bill. And we need to add back this trip to a conference in Bahamas. Right. Right.

Yeah. So run your business clean. So everybody wants to put personal expenses in their business because they want to maximize their lifestyle advantages. And then when they try to sell their business, they want to then say, oh yeah, but we need to add back, you know, my daughter's cell phone bill. And we need to add back this trip to a conference in Bahamas. Right. Right.

Yeah. So run your business clean. So everybody wants to put personal expenses in their business because they want to maximize their lifestyle advantages. And then when they try to sell their business, they want to then say, oh yeah, but we need to add back, you know, my daughter's cell phone bill. And we need to add back this trip to a conference in Bahamas. Right. Right.

And you know, all this stuff. And let me be clear. A buyer may delve into that hole with you and fully appreciate, understand and accept everything you've said and be willing to pay you the price based on the cash flow you are then creating with these ad backs. You might just have to find the right one. Now, here's the problem, though.

And you know, all this stuff. And let me be clear. A buyer may delve into that hole with you and fully appreciate, understand and accept everything you've said and be willing to pay you the price based on the cash flow you are then creating with these ad backs. You might just have to find the right one. Now, here's the problem, though.

And you know, all this stuff. And let me be clear. A buyer may delve into that hole with you and fully appreciate, understand and accept everything you've said and be willing to pay you the price based on the cash flow you are then creating with these ad backs. You might just have to find the right one. Now, here's the problem, though.

That buyer then has to show their banker that all of your ad backs are correct. And the banker has to agree with all the ad backs.

That buyer then has to show their banker that all of your ad backs are correct. And the banker has to agree with all the ad backs.

That buyer then has to show their banker that all of your ad backs are correct. And the banker has to agree with all the ad backs.

So I've often said that if you want to run all your personal expenses through and never have a profit every year so that you don't have to pay income tax, the cost of that behavior is going to be that you will likely be the banker. that you are going to sell to someone who will give you a down payment and you will hold the note on the entire thing.

So I've often said that if you want to run all your personal expenses through and never have a profit every year so that you don't have to pay income tax, the cost of that behavior is going to be that you will likely be the banker. that you are going to sell to someone who will give you a down payment and you will hold the note on the entire thing.

So I've often said that if you want to run all your personal expenses through and never have a profit every year so that you don't have to pay income tax, the cost of that behavior is going to be that you will likely be the banker. that you are going to sell to someone who will give you a down payment and you will hold the note on the entire thing.

That person cannot get financing for your business. And so, you know, when people hear that, they get all up in arms. But, you know, if you want to sell for top dollar and you want to walk away with a lot of money on closing day, the business has to look good to a bank, not to a buyer, to a bank. So that would be the number one thing. Number two, every buyer is worried that

That person cannot get financing for your business. And so, you know, when people hear that, they get all up in arms. But, you know, if you want to sell for top dollar and you want to walk away with a lot of money on closing day, the business has to look good to a bank, not to a buyer, to a bank. So that would be the number one thing. Number two, every buyer is worried that

That person cannot get financing for your business. And so, you know, when people hear that, they get all up in arms. But, you know, if you want to sell for top dollar and you want to walk away with a lot of money on closing day, the business has to look good to a bank, not to a buyer, to a bank. So that would be the number one thing. Number two, every buyer is worried that

the love and affection of the clientele is towards the owner and not the business itself. So you have to be able to demonstrate that people are not, or the business is not relying upon the ownership in order to, to make the sales happen. Uh, and if you have key relationships, like you'll hear this all the time from people in particularly like in, in, uh,

the love and affection of the clientele is towards the owner and not the business itself. So you have to be able to demonstrate that people are not, or the business is not relying upon the ownership in order to, to make the sales happen. Uh, and if you have key relationships, like you'll hear this all the time from people in particularly like in, in, uh,

the love and affection of the clientele is towards the owner and not the business itself. So you have to be able to demonstrate that people are not, or the business is not relying upon the ownership in order to, to make the sales happen. Uh, and if you have key relationships, like you'll hear this all the time from people in particularly like in, in, uh,

Highly technical service or consulting businesses like a big engineering firm or architecture firm or something. People do business with that firm because they have relationships with the owners. So if you own a business like that and you want to sell, don't be surprised when part of the deal is that you stick around and work there for years.