If you're an entrepreneur, business owner, or self-employed person and haven't asked yourself how much your business is worth, you're ignoring a very valuable piece of information. And yes, I'm referring to the price it could be sold for.
Even if you don't intend to sell your business, knowing how much it's worth or how to calculate that value is important. Often, especially if it's our first successful venture, we add extra value based on our emotional attachment, which can cause us to miss out on opportunities. Other times, due to ignorance, we undervalue the business.
Having a sound or realistic idea allows us, even if the goal isn't to sell, to make better decisions regarding expansion or investments. We may even realize that the goals we had when we started can be achieved with the sale.
