May 17, 2021
In episode 358 of Financially Simple, Justin answers a listener’s question regarding Formal and Informal Valuations.
If you are planning on selling your business, having the business accurately valued is important to determine its worth in order to get a fair offer. In this episode, Justin compares Formal and Informal Valuation criteria, and gives a breakdown of each.
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00:45 - Formal vs. Informal Valuation
02:45 - What is a Business Valuation
04:55 - What is Value
07:18 - When are Valuations Needed
09:12 - The Difference
15:30 - Summary
Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.