73 - Exit Strategy Part 2 - Valuation

In this episode, Dennis Zink talks with Peter Gruits with the SCORE Exit Strategy Team and Eric Robinson, a CPA with Robinson, Gruters & Roberts, CPA, about business valuation. You'll learn what a buyer is actually buying, methods used to establish value, and the definitions of goodwill and EBITDA. You'll also learn why owner benefits are added back to recast the true profit, how multiples are determined, SBA loan guarantees, taking an earnout as partial compensation, non-competes and what you should not do when selling your business.