DISQUS

Mark Truman · 1 year ago

Yes!

My annual revenue projections are the best thing I've ever done for myself. It lets me tell my staff how they are doing and focuses my marketing on the stuff that gets me results!

I can't recommend this enough.

Savings Accounts 411 · 1 year ago

Revenue projections are absolutely critical to growing a business. As you said, you need a goal to hit.

I think you need to go a step further though. You need to build out a concrete plan as to where those revenues are going to come from. A bridge report showing what you need to bring in to hit your projections.

JudyAnn Lorenz · 1 year ago

Proguessions and the tracking plan are all tools of comfort for our projections and goals. Once we have them in place, we wonder how we were intimidated by the idea or how we got along without them.

Gary S. Hart · 1 year ago

Excellent advice John.

When I became VP of a sales division 25-years ago, sales projections were a requirement that became a wonderful habit. My monthly goals were modified to meet annual projections. When we had an off month, the following month's target was bumped up. And when we surpassed our monthly mark, I suggested increasing our annual target.

From an operational standpoint, I could not function without projections, especially in a down market. My wife's dance school is a luxury and has been mildly affected by the current market conditions. Last September we looked at expenses that we could cut or reduce, which is a good habit in any economy. Revenue did not increase, but our profit margin grew. She feels well prepared for this coming season.

Nate Stockard · 1 year ago

I have checked my progress with my business and financial plans each month. I have goals that I shoot for, see if we are on track, and make changes if not. I don't wait for tax time to realize we didn't make as much money as we should have!

Nate Stockard