Pricing a partner's share isn't the same as selling the company: there's no buyer pool to test the number against. This walks through the three valuation methods, how to normalize SDE when two owners are on payroll, what moves the multiple, and when a rough estimate isn't good enough. None of those three are in the body. One thing to flag: no CTAs anywhere in this one, per your call on the last post. It ends on the education note. Take a look and tell me what to tighten.