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Let's say you want to sell or buy a business. Or, suppose you want to gift a piece of your business to your family. Maybe you want to raise capital?
Well, you'll need to determine the value of your business.
So, to get some perspective on the topic, I spoke to Scott Gabehart. He has valued over 700 businesses since 1991 and has written several books on the topic, such as The Business Valuation Book 
According to him, there are several approaches to getting a valuation:
Do-It-Yourself: Yes, the valuation process can be extremely complex. But Gabehart has an easy system that will provide a rough estimate.
First, you will need to calculate your company's adjusted cash flow (ACF). This is:
Net income
+ Your salary
+ Your perks (personal travel, discretionary expenses)
+ Depreciation
+ Interest expense
After all, it's common for owners to use their business to pay for personal expenses. Thus, it's important to factor our certain items (for example, depreciation is a non-cash expense).
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