Valuations

If you own your own business or are a partner in a business, the answer is probably yes.  Consider this, on any given day you can find out the amounts of your checking, savings, 401k or other investment and retirement accounts to the penny.  However for your business interest, often the most valuable asset, you are going rely on a blanket industry formula?

A true business valuation is unique to itself. Industry formulas or rules of thumb might get you within tens of thousands dollars if you are lucky, but more likely its going to be hundreds of thousands or millions of dollars off based on high or low side of the range.