When hiring a business appraiser, you typically get what you pay for. Some business owners may be tempted to seek the offering with the lowest price tag. After all, a business valuation is just a formality, isn’t it? Many owners perceive formal appraisals as something required by an outside party — such as the IRS, a judge or a lender — in order to obtain approval or comply with a regulatory requirement. But a valuation actually provides insight into a company’s current market value, as well as key value drivers to enhance value going forward. A valuation can also serve as a wake-up call for business owners with unrealistic expectations.