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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8/11/2019 Whats It Worth Entre
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