Often when I talk to sellers they have a pre-conceived idea of what their business is worth; 2.5x revenue, 3x revenue, 8x earnings?
While convenient, thinking your firm is worth 2.5x revenue because you are a standard lines retail agency, is a large and unnecessary risk for business owners. Unless you’ve positioned yourself financially to the point where it doesn’t matter what price you get, you’re banking your retirement and your family’s future well-being on a guess.
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