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Tip #141: Knowing the Value of a Business Can Help Give it Direction
Knowing the value of a business is important not only when it’s time to sell, but also how a business is managed. While keeping the value of the business in mind, a business owner can make good decisions on products and/or services, pricing, location, markets, etc. And when it comes time to sell, the company can be in the best position to get the best price. Business valuations can be complicated and are most meaningful when prepared by a professional such as a business broker/intermediary. Read: Know Your Worth: 3 Methods of How to Value a Business.
