Hello again! Last blog I spoke to the “Why” of forecasting. This time, I need to spend a little space on the “How” of forecasting.
A forecast is the blueprint of your company. Take a second and think about your dream home. Think about the features that would make that house special and set it apart from every other house you have lived in. Think about how many rooms you would have, how many bathrooms, one or multiple stories, how much counter space and how much lighting you would have. When you create the blueprint for that house, all of the information that you envisioned would be laid out in that blueprint. It is the same concept with your company blueprint.
Three Page® helps you take a look at those same features within your company. We look at the assets (visible and hidden), we review what your company has done in the last couple of years and identify trends, and we help you set realistic goals for your business. We use that information to draw up your company blueprint. Once we have that company blueprint created, we will give you The 3 Secrets Of Business Growth ® to help you build that solid foundation and grow your company from there.
In my next blog, I’ll conclude this forecasting series with information that answers “What do I do with it after I’ve done it?”
-Ron Haugen
Posted in Uncategorized
Unfortunately, forecasting is still a mystery to many business people, and I’ve heard many people say “I just don’t have time to forecast.” Forecasting does take a little time — time you may not think you have — but invariably those businessmen and women who take the time to carefully plan their sales and inventory are far more profitable than those that don’t.
Forecasting sales and cash flow is never a simple task, and the shaky economic recovery is making the process downright perplexing. In this and coming newsletters, I would like to speak to the 3 biggest questions that I hear about forecasting; (1) Why should I do it? (2) How do I do it? and (3) What do I do with it after I’ve done it?
So…why should you forecast? Forecasting is about predicting the future as accurately as possible, given all the information available, including historical data and knowledge of any future events that might impact your forecasts. Forecasting will answer many of your most asked questions: What is my business going to spend next year? What do I think we’ll bring in? When will that money actually reach my bank account?
Forecasting is used to make sure that the right product is delivered at the right cost and the right time. Forecasting will allow you to measure your costs and increase your profit margin. Forecasting will also allow you to communicate to your vendors and bankers as well as your team
I am of the firm belief that forecasting is just plain smart. It should be an integral part of the decision-making activities of management. I designed our Three Page System to contain an easy- to- use tool that will simplify the forecasting process for your clients.
-Ron Haugen
Posted in Product Updates Uncategorized What's New
One of the biggest dangers in business is not managing your cash. Too many businesses fail because they operate in the dark. Want to expand and hire a few more people? Can’t if you don’t have a handle on how much money comes and goes, and when it comes in for your business (i.e. your business trend cycle).
Want to buy new equipment? How can you if you can’t predict when there will be money in bank? So you hesitate, missing the sale or best terms for the equipment you are eyeing.
Do you want to start a new marketing campaign, but you know going in there may be a time lag from the time you start to when the cash registers rings? Knowing your cash flow will help you plan better and helps you determine just how much you can spend, and the length of the campaign.
Three Page’s SnapShot Tool is the perfect solution for cash flow.
SnapShot is now included in Level 1 package (as well as Level 2 and Level 3).
No matter what the size of your company, every Three Page user can now use the SnapShot tool. Just put in a few key numbers to your Weekly Tracker in the software, add your weekly balance, and presto, your Cash Flow is tracked weekly. Takes just seconds.
Sleep better at night knowing you can make payroll this Friday. Impress your banker and vendors by being more confident about managing your company. Cash Flow management is a must-have skill for every business.
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