Valuing small family businesses accurately is easier if you have a good valuation process and avoid common mistakes created by taking short cuts.  A common mistake is to short cut the businesss appraisal process by failing to interview management and touring the Company’s facilities and seeing its equipment.  It is always a good idea to value a business using three valuation approaches such as the cost, income and market approaches rather than relying on one valuation method or a rule of thumb.  To read more about common business valuation errors please see the September 2013 newsletter on the 10 Most Common Business Valuation Errors.