Choosing the appropriate methodology for valuation depends on the situation under which the firm is to be valued and the needs of the users of the estimate. The International Private Equity and Venture Capital Valuation Guidelines encourage using the method that best reflects the nature of the business, its circumstances, life-stage, industry, the reliability of the data available, and unique firm considerations (IPEV Board, 2008). Furthermore, several methods should be used and then compared, which will give the valuer a clearer picture of the firm’s worth (Siegel & Gavron, 1994). Utilizing multiple and hybrid methods provides a more comprehensive level of analysis and allows the factors that contribute to a firm’s value to be inspected collectively (Jenkins, 2006). At the least, use of various valuation techniques will provide a range from which the entrepreneur may discuss or negotiate the price of the business (Lewis, 1988).