Years ago I was involved in the sale of a business that I founded. That was way back before the miracle of YouTube when you could go on this social media site and find some video on how to value a business. So I did what a lot of people did back then, I hired a business attorney to represent me during the negotiations. We went into the negotiation. I remember the negotiation was intense. I remember thinking this isn’t going the way I want it to, but I leaned on the knowledge of the attorney. I believed what he was telling me was correct. After a while we negotiated a price. But, I walked out of that meeting thinking, this just doesn’t feel right. The number was wrong, but I thought I am going to go ahead with what my business attorney is recommending. Soon after I discovered the price I sold the business for was less than its value. So I resolved to never let that happen again. I dove head first into learning how to value a business and how to negotiate the best price. Since that time I’ve been involved in almost a dozen startups. I’ve also offered advice to business owners in the process of selling their businesses. In this video I outline important things you should consider when valuing a small business. There are many other things to know but if you learn the basic steps I outline here you will be much farther ahead of me when I sold my first multi-million dollar business. Fell free to leave comments or questions.
How to Value a Small Business (Key Factors You Should Consider Before You Buy or Sell)
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