A buyer decides what your business is worth in the first 10 minutes they spend in your books. Here’s the list they run, so you can run it on yourself first.

• The add-back test a buyer’s analyst runs before lunch, and which ones get struck
• Why one big customer quietly caps your price no matter how good your profit looks
• The owner-dependency question that decides whether you’re selling a business or a job

From James Montgomery. Bought and sold $100M+ in businesses. Owner, former banker, business attorney.