Summary:

In this 97th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Jason Early, Chief Revenue Officer of the cloud-based business valuation platform BizEquity. 

Episode Highlights: 

● 00:43: – BizEquity is a cloud-based business valuation platform. 

● 01:25: – Jason Early comes from a financial services background. 

● 02:52: – A lot of business owners fixate on a number they think their company is worth and then are shocked when it isn’t as valuable as they thought, so BizEquity provides transparency to the valuation process for business owners. 

● 03:45: – BizEquity uses a simple seven-step process to input your financial data and watch the valuation number dynamically change throughout, then gives you a 20 page valuation report that benchmarks them against industry peers. 

● 07:05: – Traditional valuation assessments are only a snapshot in time, but using BizEquity means your advisor can come back to you later and provide updates as the market changes and as your business changes. 

● 08:17: – 78% of business owners plan to fund their retirement almost entirely on the value of their business, without knowing what the value of their business actually is. 

● 09:41: – $13.2 trillion dollars of business owner wealth is set to transition over the next ten years. 

● 11:32: – More and more accountants are coming onto the BizEquity platform and it is a growing vertical for the company. 

● 12:22: – The biggest pushback for the company is that their platform does not spit out certified results, because they have no way of verifying that the numbers that business owners are putting into the platform are accurate to begin with. 

● 13:22: – BizEquity doesn’t intend to replace certified valuations, but is there to supplement them as a low-cost alternative for business owners to know the approximate value of their business at any point in time without having to go through the arduous process of a certified valuation. 

● 14:20: – In Jason Early’s view, it is crucial now more than ever for financial advisors to provide a comprehensive view, aided by technology. 

● 15:43: – One of BizEquity’s biggest challenges has been that they have created this market, so there is no one to look to, and education has to be a big component of their product. 

● 17:30: – Jason Early is most excited about the potential BizEquity has in the future, as they have only scratched the surface with their 5,000 subscribers. 

3 Key Points 

1. Most business owners don’t know the value of their business, yet it’s crucial information 

to have for future planning. 

2. Traditional valuation takes a long time, is complex, very costly, and only gives you 

information about a snapshot in time, whereas BizEquity can provide dynamic results. 

3. BizEquity hopes to supplement traditional, certified valuation; 

Tweetable Quotes: 

● “Only 2% of businesses value themselves in a given year, and so none of them have an understanding.” –Jason Early 

● “What we believe is that business owners deserve to know their value at any point in time and shouldn’t have to go through a process to get a certified valuation any time they want to know the value of their business.” –Jason Early 

Resources Mentioned: 

● Facebook – Jason Pereira’s Facebook 

● LinkedIn – Jason Pereira’s LinkedIn 

● FintechImpact.co – Website for Fintech Impact 

● https://www.bizequity.com/ – Website for BizEquity

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