The value of your business, whether it’s a multi-generational manufacturing firm, a tech startup, or somewhere in between, changes every day. So why would you seek a professional business valuation? While some might only think of business valuation when selling a business, determining your business’s value is important for many situations, including creating a solid plan to track and increase value, working toward an exit strategy, creating incentive plans tied to valuation increase, retirement planning, estate planning, and more.
In this episode of The First Business Bank Podcast, experienced business valuation professionals offer an engaging, informative conversation about business valuation, including details about:
- Three business valuation approaches and what goes in to each one
- Common reasons why business owners seek a valuation
- Preparation tips for the business valuation process
- Qualities to look for in a business valuation partner
- How business valuations help in estate planning and succession planning
Above all, our experts recommend starting the business valuation process early so you’ll avoid any surprises. When done correctly and accurately with a professional business valuation firm, a business valuation should allow you to plan and negotiate from a position of strength. For a detailed guide that breaks down complex business valuation concepts, download "An Introduction to Business Valuation."