Forecasting Isn’t The Same As Accounting
There’s no doubt that forecasting or attempting to predict the future in any way, is considered by many to be a mild form of insanity. Forecasting is one area of business planning that entrepreneurs tend to resist. There are many reasons for this: Beyond spending, many people simply don’t like to deal with money matters. Unless you’ve previously owned a business, the entire business financial arena tends to be a vast, spooky mystery. Those who have weathered a financial black eye in their personal lives are inclined to be apprehensive about tackling the management of business finances. Read the full article.
Take the Guess out of Your Sales Forecasts
“How do I tell you the amount of sales I’ll make next year, when I just don’t know?” For new business start-ups, projecting sales can be a frustrating, uncertain experience. To go into a business without having some idea of how much you’ll sell might be thrilling for a gambler, but if you stand to lose a lot, it’s just too risky. Read the full article.