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Judgment & ambiguity · Calibrating confidence

A client asks what their business is worth ahead of a sale, but it's in a niche sector with almost no clean public comparables and only a couple of stale precedent deals. How confident are you in the number you give them, and how do you frame it?

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I'd be honest that thin comps mean a wider range and lower precision, and I'd frame the number as a range with the drivers exposed rather than a single figure that implies certainty I don't have.

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