Guessing the worth of a business is like driving across country without a gas gauge. You could get lucky and make your way there without any issues, but what happens when there is trouble along the way and you break down?
Experts say fewer than a quarter of all U.S. small business owners have any idea of the true worth of their companies. The process is quite complicated and many business owners don’t know where to begin.
The worth of almost anything is nearly always inflated. Everything from a car to a house has a specific monetary value in reality and many times the value is innocently increased. We all want to believe our possessions are priceless.
As a business owner you need to know what your business is truly worth. Whether you are looking to add or eliminate a partner, merge, sell or expand, it is critical to know. Playing roulette could ruin your odds of success in the long-term.
Business valuation is a complicated process , which needs an expert. Just as it is not smart to be your own doctor or lawyer, it can be shortsighted and often costly to do this yourself. Experts can examine your business in detail to determine assets and liabilities so you can make informed decisions about how, when and if you should sell it based on its value. Isn’t is always better to know the facts, rather than learn the hard way later?