We chatted to a recent user of EquityMaven to find out about their experience of our business valuation product. Here’s what they had to say.
Tell us who you are.
I’m Dorian Cabral, from IT Anywhere.
What’s your background?
I’ve always been very entrepreneurial and run four main businesses: an app, gym management software, a physical gym and my company IT Anywhere.
I’ve used “traditional” business valuation tools in the past, but these are time consuming and costly, coming in at around R15 000 to R30 000. They’re also not generally guided by global best practice. But you still need this process in your arsenal, as you scale.
Why did you get a business valuation done?
I wanted to get one done to help me refine our business strategy, monitor performance and enable an exit mindset all the time. This is impossible to do without a reliable number.
How did you hear about EquityMaven?
I hadn’t heard of it actually, but I went online, thinking there had to be some product out there which offered an easier way to get a business valuation done. I did a Google search for "business valuation", and checked out various competitors, I believe there were three or so companies offering what I needed.
Why did you choose EquityMaven?
To me it looked streets ahead of everyone else. The aesthetic specifically gave me a very professional opinion from the onset, but the more vital point is that once I started using the tool, it was very easy, fast and efficient. It was just about signing up and getting down to the work of the business valuation – a simple and powerful value proposition. There was no pre-qualification step or separate links, and you didn’t find yourself winding down different paths. It got straight to the point, which I appreciated.
How was the user experience?
Super easy. I signed up, paid, grabbed my audited financials, and entered inputs. It took less than 30 minutes to have the valuation report in my hands.
What did you think of the valuation report?
Although it was super easy to input, I still ended up with a complex and very professional output. It was only about R80 000 off from what my Financial Manager ended up calculating, as a professional. It wasn’t just about getting “my number” though, I really appreciated the global benchmarking insights too.
I also liked the calculation details, so you could see and learn how the valuation comes together. All in all, it was very insightful and actually prompted me to do additional offline research.
Would you recommend EquityMaven to another user?
Yes, I’ve already referred it to tons of folks (and have even been accused of being a shareholder!). I was extremely happy with the product and experience, overall.