Most business owners and attorneys know the basics of the business valuation process. For example, you might know that there are three approaches to value: the cost, market and income approaches. You might even know some of the methods that fall under these approaches, including the: Adjusted book value, Excess earnings, Guideline public company, Merger and acquisition, Capitalization of earnings, and Discounted cash flow methods. But experienced laypeople also understand tha

Business succession and exit planning should ideally be done over a long period of time (unless illness or another emergency makes it necessary to address them in the short term). Your business should be readied for sale on a continuing basis. But as you get closer to the time you want to sell, you should make changes to enhance the value. It's similar to putting a house on the market. Before you put up the "for sale" sign, you fix deficiencies and highlight coveted features