Few business owners relish spending money on something they don’t need. And for most owners, hiring an expert to estimate the value of their companies falls into that don’t-need category.
So it is no surprise that owners typically respond to an exit planning advisor’s recommendation to get an estimate of value for the company with some variation of: “Now? But I’m not planning to leave for years!” or “I built this company so I—better than any so called expert—know what it is worth!”
Before you join these owners and scratch “Business Valuation” from your list, consider just five reasons you should put “Estimate of Value” at the top of your list.