The valuation process starts with an in-depth review of the company’s financial records, operations and industry position. A valuation expert will typically use one or more of the three main approaches: the income approach, which looks at future earnings potential; the market approach, which compares your business to similar companies that have been sold; and the asset approach, which is based on the net asset value of the business. The chosen method depends on the nature of the business, its industry and the purpose of the valuation.