bizval IN THE aXia SPOTLIGHT
At aXia Consulting we strongly believe in helping small to medium enterprises. Each month we will interview a business owner to find out more about his/her entrepreneurial journey, the business as well as to get some advice from a fellow business owner. This month we are shining the spotlight on Graham Stephen from bizval:
Tell us a little about your business and your background
Valuations aren’t just for businesses that are for sale. Building a business is a journey, not a destination. The same is true for value creation.
We make it easy. We make it affordable. We make it fast – it takes less than 10 minutes to answer the questions and get an instant valuation. This means that you can get regular updates on your value creation journey, years before you may choose to sell your business.
bizval Business Valuation is the result of three South African professionals joining forces in 2021 to solve a simple but critical problem: how can entrepreneurs and small accounting firms get a reasonable approximation of the value of businesses at an affordable price?
We didn’t invent the online valuation tool. We just made it better. We made it simpler in the front-end and more detailed in the back-end where the calculation engine works its magic. This gives you the best possible estimate of the valuation of your business without making the inputs too complicated.
With combined experience in dealmaking and corporate strategy of over 70 years, the founders have seen the full process of value creation from the formation of a startup through to an eventual exit or substantial capital raise. bizval is the tool that lets you access this expertise for a lower cost than just one hour of time of a junior analyst in a top-tier firm.
What/Who inspired you to start your own business, and how has that initial inspiration evolved over time?
My initial introduction to the world of entrepreneurship was actually a negative one. It was based on my dad being retrenched in my Grade 10 year and starting a small business out of necessity. Whilst he always managed to put food on the table, he was more focused on being self-employed than building a business, which always meant chasing business month-to-month. After I spent 12 years in corporate I joined a startup 10 years ago and started working with founders, business owners, etc. I found my passion in helping business owners see beyond the monthly hustle. bizval in part was created out of this vision to enable business owners to build better, more sustainable and scalable businesses, which starts with understanding value and how to realise that!
What is a challenge you’re currently facing and what do you think will help you overcome this challenge?
We are currently expanding our business into the UK and US. Creating a reputation and awareness in a foreign country is hard. We are identifying and working with partners in these countries who share similar value systems and jointly building awareness and distribution with these partners.
Can you share a significant milestone or accomplishment that you are proud of achieving in your business?
In the first year, bizval has helped over 400 South African business owners value their business, with over R15bn worth of valuations. We have also performed over 40 valuations in the UK and US.
How do you stay motivated and inspired during challenging times in your industry or market?
We are entrepreneurs for entrepreneurs. What motivates us is sharing the stories of fellow entrepreneurs and giving them a platform and mechanism to identify and realise their potential.
What is your approach to building a strong brand presence, and how do you differentiate yourself from competitors in your industry?
We focus on authentic, pragmatic customer engagement and service. No customer is too big or too small and we’ll speak to you in a language that you understand avoiding technical jargon and complicated terms. We’ve focused on creating customer touch points via Linked-in, Webinars, Podcast where customers can be heard and engage with us.
How do you prioritise and manage your time effectively as a small business owner wearing multiple hats?
Prioritization and focus is key. Every week and every day I create a list of the 3 most important things that I need to do (and 10 other things). If I get through the 3 most important things it’s been a good day! Identifying and building the right team to go on the journey has been critical and we’ve been intentional around empowering each team member to make decisions and focus on their strengths.
What words of advice would you have for someone wanting to start their own business?
1) Take the first step. Even if the first step is writing down a dream – do it. My business journey started 10 years before I started my first business. I wrote it down on a dream board.
2) Partner with someone to do the journey with you – It can be lonely at times.
3) Plan ahead and be financially responsible and prudent – before starting a business, try and build a nest egg before hand that can give you 3-6 months run-way.
4) Expect things to go wrong at some point and be humble enough to adjust course if necessary.
Looking ahead, what are your future goals and aspirations for your business?
bizval will be the leading global valuation tool for small business owners.
We would like business owners the world over to see us as the 1st point of call for valuing their business, be it for a sale, growth plan, insurance planning, or shareholding agreement.
We are currently expanding and building in the UK and US as two primary English speaking markets.
Keen to get in touch with bizval? You can reach out to them on any of these platforms on their Website, Spotify, Youtube, LinkedIn, Twitter, Instagram or Facebook
Links to bizval Sales Guides can be found here.
Are you keen to have your own business featured? Click here to complete the form and we will get back to you soon.
ATTENTION ALL EMPLOYERS: We are currently running a promotion until the end of September. We will file your employees’ tax returns for only R250 per employee. If you are an existing client then you can contact your Account Manager for more information. If you are a new client, you can reach out to us here. Space is limited so make sure you get in touch soon!
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