What happens when the economy drastically shifts? Will your business survive? We’ve seen this in the wake of the pandemic where companies were forced to change or close.
This is where forecasting comes in. Most people think forecasting is future-proofing and predicting the future in some way, but that’s not the case. Instead, forecasting is a continuous process that allows you to know when you need to change.
Don’t leave it up to chance. We’re taking you through the six steps of intentional and purposeful forecasting and how it can help you make better business decisions, even when times are tough.
If you want to learn how you can use forecasting to protect and grow your business, this episode is for you!
3 reasons why you should listen to the full episode:
- Understand the importance of forecasting and how it can help you make decisions.
- Learn the 6 steps of intentional and purposeful forecasting.
- Find out the most important step that most business owners forget about when doing forecasting.
- [01:04] What is Forecasting?
- [02:28] Step 1: What’s Your Impact?
- [04:29] Step 2: Data Gathering
- [05:44] Step 3: Data Analysis
- [06:33] Step 4: Make Assumptions
- [07:58] Step 5: Financial Forecasting
- [08:15] Step 6: Update the Forecasting
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