How to Value Your Business Yourself(And Why You Shouldn't)

Learn simple DIY business valuation methods, free tools, and step-by-step techniques to estimate your business worth. Plus, discover the honest truth about when professional help is essential and why DIY can be costly.

4 DIY Valuation Methods You Can Try

1

Revenue Multiple Method

Easy30 minutesMay vary significantly

Multiply your annual revenue by an industry-standard multiple.

Step-by-Step Process

  1. 1. Find your industry's typical revenue multiple (0.5x - 5x+)
  2. 2. Calculate trailing 12-month revenue
  3. 3. Multiply revenue × industry multiple
  4. 4. Adjust for your business's unique factors
Advantages:
  • Quick and simple
  • Good for preliminary estimates
  • Industry data readily available
Limitations:
  • Ignores profitability
  • Generic multiples may not fit
  • No adjustment for business quality
Example Calculation

$2M revenue × 1.2x multiple = $2.4M estimated value

Best Used For

Initial rough estimates, comparing to industry benchmarks

2

SDE Multiple Method

Moderate2-3 hours±30-50%

Value based on Seller's Discretionary Earnings (SDE) multiples.

Step-by-Step Process

  1. 1. Calculate net income + owner salary/benefits + discretionary expenses
  2. 2. Research SDE multiples for your industry and size
  3. 3. Multiply SDE × appropriate multiple
  4. 4. Adjust for inventory, equipment, and working capital
Advantages:
  • More accurate than revenue method
  • Reflects actual earnings
  • Commonly used for small businesses
Limitations:
  • Requires financial analysis
  • Multiple selection challenging
  • Normalizing earnings is complex
Example Calculation

$500K SDE × 3.2x multiple = $1.6M + inventory/equipment adjustments

Best Used For

Small businesses with owner involvement, preliminary sale preparation

💡 Multiples vary significantly by industry, size, and specific business characteristics

3

Asset-Based Method

Moderate4-6 hours±25-40%

Sum up all assets at fair value minus liabilities.

Step-by-Step Process

  1. 1. List all business assets (equipment, inventory, real estate, etc.)
  2. 2. Research current market values for major assets
  3. 3. Add intangible assets if significant (customer lists, etc.)
  4. 4. Subtract all liabilities to get net asset value
Advantages:
  • Good for asset-heavy businesses
  • Provides minimum value floor
  • Tangible and verifiable
Limitations:
  • May miss going-concern value
  • Asset valuation can be complex
  • Doesn't reflect earning power
Example Calculation

$800K equipment + $200K inventory + $400K real estate - $300K debt = $1.1M

Best Used For

Manufacturing, real estate businesses, liquidation scenarios

4

Discounted Cash Flow (Basic)

Hard8-12 hours±50-80%

Project future cash flows and discount to present value.

Step-by-Step Process

  1. 1. Project 5-year cash flows with growth assumptions
  2. 2. Estimate terminal value using perpetuity formula
  3. 3. Determine appropriate discount rate (10-20% typical)
  4. 4. Calculate present value of all future cash flows
Advantages:
  • Based on fundamental value drivers
  • Forward-looking approach
  • Theoretically sound
Limitations:
  • Highly sensitive to assumptions
  • Complex calculations required
  • Easy to make costly errors
Example Calculation

PV of 5-year FCF ($400K) + Terminal Value ($2.1M) = $2.5M enterprise value

Best Used For

Stable, predictable businesses, sophisticated business owners

Complete DIY Process (If You Insist)

1

Gather Financial Information

  • • Last 3 years of profit & loss statements
  • • Current balance sheet
  • • Tax returns for the same periods
  • • Monthly sales data for trending analysis
  • • List of all business assets and their ages
2

Research Your Industry

  • • Find typical valuation multiples for your industry
  • • Research recent business sales in your sector
  • • Understand industry trends and growth rates
  • • Identify key value drivers in your business type
3

Apply Multiple Methods

  • • Use at least 2-3 different valuation methods
  • • Compare results for reasonableness
  • • Investigate large discrepancies between methods
  • • Weight methods based on your business characteristics
4

Make Business-Specific Adjustments

  • • Adjust for above/below market owner compensation
  • • Consider customer concentration risks
  • • Factor in competitive advantages or disadvantages
  • • Account for deferred maintenance or needed investments
5

Sanity Check Your Results

  • • Does the value make sense given your industry?
  • • Is it reasonable compared to your annual profits?
  • • Would someone actually pay this amount?
  • • Have you been overly optimistic or pessimistic?

🚨 Red Flags: When DIY Will Cost You

Legal or Tax Requirements

Critical Risk

Any valuation for divorce, estate planning, tax reporting, or litigation requires professional standards

Potential Consequence: Legal challenges, IRS penalties, court rejection

Transaction Over $500K

High Risk

Potential errors in DIY valuations can cost tens of thousands in negotiations

Potential Consequence: Significant financial loss in sale price

Complex Business Structure

High Risk

Multiple entities, partnerships, or holding companies require specialized expertise

Potential Consequence: Major valuation errors, missed value drivers

Significant Intangible Assets

Medium Risk

Patents, brand value, customer relationships difficult to value without expertise

Potential Consequence: Substantial undervaluation of business worth

Volatile or Cyclical Business

Medium Risk

Normalizing earnings and selecting appropriate multiples requires professional judgment

Potential Consequence: Timing-based valuation errors

Dispute or Contentious Situation

Critical Risk

Any disagreement about value requires defensible, professional methodology

Potential Consequence: Legal vulnerability, weak negotiating position

The Hidden Costs of "Free" DIY Valuation

Your Time Investment

20-40 Hours

Research, calculations, and analysis time that could be spent growing your business

Consider the value of time invested

Accuracy Risk

May vary significantly

DIY valuations may vary significantly from professional assessments

Potential for significant valuation discrepancies

Legal Liability

No Defense

DIY valuations offer no legal protection in disputes, audits, or challenges. Even internal-use valuations may have legal implications if later discovered in litigation.

Risk: Complete re-do costs

When Professional Help Makes Sense

Professional Valuations Pay for Themselves When...

Legal/Compliance Situations:

  • • Divorce proceedings
  • • Estate and gift tax planning
  • • Litigation support
  • • Buy-sell agreement triggers
  • • ESOP transactions

Business Transactions:

  • • Selling your business
  • • Buying a competitor
  • • Partner buyouts
  • • Investor negotiations
  • • Strategic planning

What Professionals Bring That DIY Can't:

Credentialed expertise (CVA, ASA, ABV)
Access to proprietary market databases
Legal defensibility and expert testimony
Industry-specific expertise
Complex adjustment capabilities
Professional standards and peer review

The Bottom Line on DIY Valuation

DIY business valuation can provide useful rough estimates for internal planning and curiosity. However, when accuracy matters—for legal compliance, tax reporting, transactions, or important business decisions—professional valuation is not just recommended, it's essential.

✅ DIY is OK for:

  • • Curiosity about business worth
  • • Internal planning estimates
  • • Benchmarking against industry
  • • Educational purposes

❌ Never DIY for:

  • • Legal or tax compliance
  • • Business transactions
  • • Dispute resolution
  • • Financial reporting

Remember: The cost of an inaccurate valuation often exceeds the cost of getting it right the first time.

Ready for a Professional Opinion?

Get an accurate, defensible business valuation from a Credentialed Valuation Professional (CVA, ASA, CPA/ABV). Often costs less than the risks of DIY mistakes.

Important Disclaimer: DIY business valuations are suitable ONLY for internal planning, preliminary estimates, and educational purposes. They are NOT appropriate for legal compliance, tax reporting, transactions, or any situation where accuracy matters. Professional valuations by certified experts are required for important decisions. These methods provide rough estimates only and should not replace professional judgment required by valuation standards.