Selling a business can be a challenging undertaking. For most people, they have not been through the business sales process before and are surprised to learn how different it is when compared to a typical real estate transaction. The entire process of selling a business is usually much more involved and can be much more complicated. For instance, finding an appropriate business buyer, qualifying leads, maintaining business confidentiality, tax issues, asset sale vs share sale, due diligence, VTB financing, transitions, employee issues, liabilities, working capital... and so on. Besides all of these issues though, probably the most confusing issue for many owners when selling a business is determining an appropriate selling price. For most people, determining a selling price (or business valuation) is a mystery. It is one of the most important decisions a business seller can make though. Setting the selling price too high will discourage potential buyers from inquiring about the listi...