Take a picture of your iPad. Then, drop your iPad off a 20-story building. Now, take another picture. That “before” picture doesn’t say much about the current value of your iPad.
Essentially, this is the problem with business valuations.
A business valuation is a detailed financial analysis that gives you an estimated range of what your company is worth. There are plenty of business appraisers out there. The reputable ones will be certified by the ASA (American Society of Appraisers), the NACVA (National Association of Certified Valuators and Analysts), or a similar organization. They’re not cheap. A professional valuation can set you back anywhere from $30,000 to $50,000.