In the hyper-competitive environment where your business operates, it pays to be ahead of the curve.
And the best way to stay one step beyond all the rest is to have a good forecasting system that will help your business to be proactive rather than reactive.
A solid forecasting process will help you as a business owner to set achievable goals with measurable milestones that will gauge your progress along the way. Drawing upon analysis of past performance
data and current market opportunities, forecasting will map out a path that will take your company to the next level.
The forecasting areas that will benefit your business include:
- Sales forecasting
Sales forecasting will generate quality analysis of the market conditions facing your business, the purchasing history of your clients and the effectiveness of your sales and marketing
efforts. This will provide you with the information you need to conduct capacity planning (people) and manage stock levels, machine maintenance and other miscellaneous expenses.
- Invoice forecasting
Invoice forecasting will inform you when you can expect to receive payment for work already performed and/or goods already sold and delivered.
- Cashflow forecasting
Cashflow forecasting will build upon your invoice forecasting by estimating when you’ll owe payments to suppliers, wages, taxes and debt service.
- 90-day forecasting
90-day forecasting will generate an informed estimate of how your business will fare over the next fiscal quarter. By combining all of the forecast types featured above – sales, invoice and cashflow – your 90-day forecast will indicate whether your business is on track to generate a profit over the next three months. If not, this forecast will provide you with a
road map of short-term corrective actions that will put your business on a path to profitability over the short term.
If you think that this sort of forecasting process is only within the grasp of large corporations with dedicated strategic management teams, think again! With Alluvion Business Coaching you’ll find it to be surprisingly affordable.
Your Alluvion Business Coach will assist you in analysing problems and implementing remedial strategies that will put your business on a path for growth.
Your personal work-life balance will improve and you’ll feel that you’re driving events rather than having events drive you.