Whats It Worth Entre

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  • 8/11/2019 Whats It Worth Entre

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    T E C H N O L O G Y

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    What s it worth?

    Uncover your company s valuationwithout high-priced consu ltants

    i

    om-and-pop businesses

    have the same issues as

    . the Fortune

    5oo.

    The dif-

    ference is tha t big companies spend mil-

    lions on c onsultants to help

    ix

    hem,

    says Christopher Myers, co-founder and

    CEO of web-based financial plann ing

    tool BodeTree. But if Myers and h is

    partner . Matt Ankrum, have their way,

    BodeTree will level the playing field.

    Released out of beta in April, Bode-

    Tree pulls data from a company's Quick-

    Books program to build a thoro ugh

    financial profile; prepa re rep orts specific

    to investors, banks, attorneys or ac-

    countan ts; and, than ks to a proprietary

    algorithm, spit out a company valuation.

    It's tha t last function tha t makes Bode-

    Tree unique. Fveryowner andCEO needs

    to know this number, but I'd say97per-

    cent don't, Myers

    says.

    Instead, they're

    obsessed w ith revenue and 'growing the

    business,' when often what they're really

    doingisgrowing broke. They discover

    it when theygoto sell the business, go

    through

    a

    divorce or

    go

    bankrupttimes

    when they spend thousands ofdollarson

    consultants to help themfigur out what

    everything's worth.

    Mario E vans was one of those

    shocked to find out her company's true

    value. O ur business is booming, and

    we thought it was worth a

    lot,

    says the

    co-founder of Houston-based wholesale

    artisan bread bakery Slow Dough Bread

    Co. But with our debt load, BodeTree

    didn't think so.

    The program's optimizer tool quanti-

    fies the impact of nearly every decision,

    from adding or cutting staff to opening

    new locations or taking on debt. To

    improve Slow Dough's valuation,

    Evans used the tool, which pits

    her company's financiis

    against a Risk Manage-

    ment Association

    to find any overlooked so lutions.

    We

    saw that tightening up collections was

    the first thing todo,instead of immedi-

    ately cutting costs somewhere, she says.

    The idea for BodeTree came to

    Myers and Ankrum in2010, when they

    were well-paid corpo rate strategists at

    the Apollo Group. We realized that

    most of what we did was ask a few

    questions, plug in readily available infor-

    mation, read the reports and make

    recommendations, Myers

    says.

    Bo

    Tree walks people throu gh the same

    process and involves less work tha n

    ing out a car loan doc.

    To

    get the most out of the subscr

    tion servicewhich costs$250per y

    or

    $25

    per monthMyers advises us

    to have at least thr ee years of Quick-

    Books data to upload. Up next: a vers

    for FreshBooks accoun ting software.

    Grant

    E very owner and CEO

    needs to know this number.

    Christop her Myers, BodeTree

    Home Benefits Demo W hy Our Story Pricing

    Numbers are boring.

    Your business isn't.

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