A closely held firm is not a smaller version of a large public firm, anymore than a child is a miniature adult. Recognizing that value comes from the ability to generate future cash flows, this book emphasizes the differences between the large and small firms when presenting the concepts to value the closely held firm.

Why bother valuing a private business? -- Is it a business, or just a pile of assets? special questions and adjustments in the valuation of closely held firms -- Valuation when a firm is not a going concern -- Valuation of a going concern -- Growth options and valuation -- Inflation and valuation measurement -- Calculating the discount rate for closely held firms -- Planning to buy? considerations from the other side of the sale -- The exit strategy -- What we know, where to go next.