Valuation often the topic of contention between the entrepreneurs and the investors. This is because by nature startups are innovative business models with no proven history. Sometimes there may not be any business model at all, but just an idea or idea and some product version which may go through significant iteration to find market fit.
This is why the valuation of early-stage companies often comes down to a conversation between the investor and the entrepreneur. The goal of this book is to introduce entrepreneurs to different facets of valuation which they can use for these conversations. Please keep in mind there is no one method or formula which is 'one-size-fits-all'. Knowing about the concepts is much more important than using formulas.