Why I Finally Caved and Got My Business Valued
I’ll be honest with you, friend. For years, I treated the idea of “business valuation services” like I treat kale at a buffet — politely nodding at it… while loading up on mac and cheese instead.
In my mind, business valuations were for either (a) people with way more money than me or (b) folks looking to slap a “For Sale” sign on the front door and peace out. Neither box fit my reality at the time.
But then came 2023. Cue dramatic thunder noise.
Revenue hit a weird plateau. Competitors started circling like hawks on a busted tractor. Investors I once laughed off were suddenly sliding into my inbox. And I had this gnawing thought: “Man, I have no idea what my business is actually worth.“
Spoiler alert: That’s not a good feeling.
So, against every stubborn bone in my body, I picked up the phone and booked a business valuation service. And buddy, let me tell you — it was a ride.
What Nobody Tells You About Business Valuation Services
First off, it’s not like they roll up, shake your hand, and hand you a neat little number on a cocktail napkin.
Nah. It’s more like peeling an onion in a rainstorm.
They dive deep — like, marianas trench deep — into every dusty file cabinet and half-finished spreadsheet you’ve been avoiding. (If you’re the kind of person who keeps receipts in a shoebox marked “Important Crap,” buckle up.)
Here’s what my process looked like:
- Financial Records Scrub: Three years’ worth of P&Ls, balance sheets, and tax returns. Spoiler: they found $2,300 I forgot about in an old PayPal account.
- Customer Analysis: They actually called a few clients (with my permission) and asked them — in their polite business-valuation way — whether they thought I was indispensable or replaceable.
- Market Comparison: They pulled comps like real estate agents, showing what similar businesses had sold for. (Newsflash: everyone thinks their business is worth more than it is.)
- Risk Assessment: Are you the “face” of your biz? What happens if you get hit by a bus? (Dark, but… fair.)
Each step felt a little bit like therapy — uncomfortable at times, but super necessary if you want to stop lying to yourself.
The Good, The Bad, and The “Holy Crap, I Didn’t See That Coming”
The Good:
Getting a real, defensible valuation was empowering. It gave me leverage for investors, confidence for strategic decisions, and honestly… a pep in my step I didn’t realize I was missing.
The Bad:
It stung a little. I thought my baby (my business) was a seven-figure queen. Turns out she was more like a very promising six-figure princess — and she needed some grooming to sit on the big throne.
The “Holy Crap”:
My biggest “aha” was how much risk factors into valuation. I always thought “revenue minus expenses = value,” but nope. If the business is too dependent on one customer (or worse, one person — me!), the value plummets faster than my patience at the DMV.
They didn’t just tell me a number. They showed me a roadmap to make my business more valuable — and that’s worth its weight in whiskey.
How to Choose the Right Business Valuation Service (Without Getting Ripped Off)
Now, I did not just Google “business valuation” and pick the first shiny ad. No sir.
Here’s what I learned about picking a good one:
- Ask about their methodology: If they can’t explain it like you’re five, run.
- Check their credentials: Look for Certified Valuation Analysts (CVA) or Accredited in Business Valuation (ABV). Alphabet soup, but it matters.
- Read real reviews: Yelp ain’t just for diners and dive bars.
- Demand a customized report: No cookie-cutter, “insert-your-name-here” nonsense.
- Clarify the cost upfront: Good valuations ain’t cheap, but you shouldn’t have to sell a kidney either.
The service I chose cost about $6,500 — not pocket change, but compared to the clarity it gave me, I’d call it a bargain. (Also, tax deductible. Just saying.)
Final Thoughts: Should You Get Your Business Valued?
Look, I’m not here to tell you what to do. I’m just a guy who’s eaten humble pie and seen the light.
If you’re serious about growing, selling, merging, or even just sleeping better at night knowing what your hard work is worth?
Get a business valuation.
And not “someday when things slow down.” (Spoiler: they won’t.)
Make it happen.
Because at the end of the day, your business isn’t just spreadsheets and logos. It’s blood, sweat, midnight emails, and all the crazy dreams you poured into it.
It deserves to be valued properly.
And heck — so do you.
Ready to get serious about your business’s future?
Whether you’re thinking about selling, scaling, or just keeping score — getting a professional business valuation might be the smartest move you make this year.
(Trust me: if I can survive it, so can you. )