it for his family is he doing it for his own ego and he responds with this quote you asked me if I was in the meth business for the businessperson I’m in the Empire business well this is very quotable it also is important because it touches on the three main types of accompaniment the three main categories are first off what we call money businesses now these are small family-owned businesses or other types of firms that are heavily dependent on one person a restaurant that is owned and operated bay top chef would.

Be an example something like I’ve all firm with only one lawyer or a few lawyers would be another example a tax firm a barbershop other places like that that are actual true small businesses then in category number two are venture-backed startups what we call meth businesses because these companies are just like Walter White in Breaking Bad are very focused on scaling their business and getting up between much bigger size eventually examples would be talkative before it was acquired whats app Instagram.

Tumbler before they were acquired and then in category Perth Property Valuer number three you have the Empire businesses now these are large companies with board and management teams and they’re nonpublic yet but they could be if they want to and they might become public one day circumstances changes when thinking about private companies you have to think about which category your company’s in first because obviously a small barbershop with two employees is going to be valued very differently from yikes they’re both private companies but they’re completely different in size scale and dependency on keep so with Empire businesses they’re really almost the same as public companies there are some minor differences you might apply some discounts and adjustments but for the most part evaluation is not that much.

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