Why you need a simple business forecast

business forecast
Simple Forecast for your Consultancy – Photo by Mark König on Unsplash

It’s August and it’s often a quiet month for many training professionals like you and me.

Maybe you’re on holiday or simply enjoying down-time.

People are away and there isn’t much facilitation or coaching or training going on.

Before a whole new year of training and development kicks off, many business owners are looking at their forecast, or are starting to build one.

So maybe now is a good time to look at your projects, the contracts, the engagements, the bookings that are going to take you right through to summer next year.

In today’s episode, we’re going to give you a simple forecast model so that you can project your revenue streams for the year ahead.

Listen to the episode now

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Project future revenue

If you’re engaged in activities which have a direct effect on future revenue streams and you are accountable for delivering on those things, then forecasting is important.

Forecasting means having confidence in your version of the future and being able to stand over it.

Without a dependable forecast, you can’t possibly know whether you’re going to make a profit or keep the doors open after paying off your debts.

You consider your projected revenue, where it’s going to come from and when it’s going to come to you.

Let’s give you a very simple model to work out your business forecast quickly so you identify revenue sources and grow more with confidence.

Take-aways you don’t want to miss

  • What is a business forecast?
  • What stops people from forecasting?
  • What are ‘commit’, ‘likely’ and ‘hope’
  • How to create a simple forecast model
  • Some key questions to ask yourself

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