David C. Barnett

The receivables get later and later. I've seen businesses operate with 45 days of average day sales outstanding. New owner comes in. They based all of their decision making and deal making on that 45-day DSO. They come in and they tell the customers, from now on, we're only accepting credit cards within five days of invoice.

People who were paying with a Visa card in 45 days now start paying in five days. Just because of a policy change. The seller could have done that. If the seller had done that, they would have been able to harvest all kinds of operating capital out of their business before it was sold. It wouldn't have affected the value of the business.

People who were paying with a Visa card in 45 days now start paying in five days. Just because of a policy change. The seller could have done that. If the seller had done that, they would have been able to harvest all kinds of operating capital out of their business before it was sold. It wouldn't have affected the value of the business.

People who were paying with a Visa card in 45 days now start paying in five days. Just because of a policy change. The seller could have done that. If the seller had done that, they would have been able to harvest all kinds of operating capital out of their business before it was sold. It wouldn't have affected the value of the business.

In fact, it would have made it look more valuable because it could be operated with less operating capital. So there are balance sheet things that people get into. Was that four? Are you counting?

In fact, it would have made it look more valuable because it could be operated with less operating capital. So there are balance sheet things that people get into. Was that four? Are you counting?

In fact, it would have made it look more valuable because it could be operated with less operating capital. So there are balance sheet things that people get into. Was that four? Are you counting?

Yeah, we got one more. I got one more. So one more thing that people need to do, you know, to make their business easier to sell is they have to be able to show a buyer how the buyer will know how to operate it. So this is your written operating manual, your procedures. And don't think it has to be a big binder with 500 sheets.

Yeah, we got one more. I got one more. So one more thing that people need to do, you know, to make their business easier to sell is they have to be able to show a buyer how the buyer will know how to operate it. So this is your written operating manual, your procedures. And don't think it has to be a big binder with 500 sheets.

Yeah, we got one more. I got one more. So one more thing that people need to do, you know, to make their business easier to sell is they have to be able to show a buyer how the buyer will know how to operate it. So this is your written operating manual, your procedures. And don't think it has to be a big binder with 500 sheets.

It doesn't have to look like the McDonald's operating franchise guide or whatever they have over there. So an operating manual could simply be a spreadsheet with the different function areas in a business. with links in there to Google Drive folders where you keep the different things that you use for that part of the business.

It doesn't have to look like the McDonald's operating franchise guide or whatever they have over there. So an operating manual could simply be a spreadsheet with the different function areas in a business. with links in there to Google Drive folders where you keep the different things that you use for that part of the business.

It doesn't have to look like the McDonald's operating franchise guide or whatever they have over there. So an operating manual could simply be a spreadsheet with the different function areas in a business. with links in there to Google Drive folders where you keep the different things that you use for that part of the business.

But you have to be able to sit down with a prospective buyer and say, oh, marketing? Here's our marketing calendar for the year. Und hier ist der Folder, wo wir unsere Fall-Promotion-Flyer aus den letzten zehn Jahren haben. Und jedes Jahr machen wir einen neuen, aber Sie können die letzten zehn Jahre schauen und Inspiration bekommen und sehen, was wir vorher gemacht haben.

But you have to be able to sit down with a prospective buyer and say, oh, marketing? Here's our marketing calendar for the year. Und hier ist der Folder, wo wir unsere Fall-Promotion-Flyer aus den letzten zehn Jahren haben. Und jedes Jahr machen wir einen neuen, aber Sie können die letzten zehn Jahre schauen und Inspiration bekommen und sehen, was wir vorher gemacht haben.

But you have to be able to sit down with a prospective buyer and say, oh, marketing? Here's our marketing calendar for the year. Und hier ist der Folder, wo wir unsere Fall-Promotion-Flyer aus den letzten zehn Jahren haben. Und jedes Jahr machen wir einen neuen, aber Sie können die letzten zehn Jahre schauen und Inspiration bekommen und sehen, was wir vorher gemacht haben.

Und das ist, was wir jedes Jahr für den Valentinstag auf der Radio machen. Und hier sind die letzten fünf Jahre von den Ads von der Radio, die wir hier in diesem Folder haben. Und Sie zeigen ihnen, das ist der Plan. Das ist, wie wir es machen. Und hier sind die Materialien, mit denen Sie arbeiten können. You know, here's all the people we talk to. Here's the radio guys phone number.

Und das ist, was wir jedes Jahr für den Valentinstag auf der Radio machen. Und hier sind die letzten fünf Jahre von den Ads von der Radio, die wir hier in diesem Folder haben. Und Sie zeigen ihnen, das ist der Plan. Das ist, wie wir es machen. Und hier sind die Materialien, mit denen Sie arbeiten können. You know, here's all the people we talk to. Here's the radio guys phone number.

Und das ist, was wir jedes Jahr für den Valentinstag auf der Radio machen. Und hier sind die letzten fünf Jahre von den Ads von der Radio, die wir hier in diesem Folder haben. Und Sie zeigen ihnen, das ist der Plan. Das ist, wie wir es machen. Und hier sind die Materialien, mit denen Sie arbeiten können. You know, here's all the people we talk to. Here's the radio guys phone number.

Here's the designer that we have on Upwork who did our ads for the last two years and would be happy to continue doing them for you. Like you need to show them this is how you run the business and it's not all in my head. Because if it's all in your head, that's freaky. The people are terrified that they're going to buy the business and then you're suddenly going to become uncooperative, right?