Sales forecasting may be the missing piece your company is looking for. Establishing accurate forecasts of where your sales should be (not overshooting to push your salespeople harder, and not low-balling to reach goals more easily) helps your company as a whole have the information they need to make the best decisions when it comes to goals, budgeting, hiring, and more.
In short, sales forecasts are an essential piece of your company’s planning process. However, the problem is not knowing that you need to create sales forecasts. The problem is creating sales forecasts that are accurate and beneficial to your company.
That’s where we come in. We’ve created a beginner’s guide to sales forecasting that will provide you with the knowledge you need to build a forecast that is realistic and will help your company grow.
What is Sales Forecasting?
We look at the weather forecast to get an idea of what to expect for today’s weather, the weather over the next few days, and as far as the weather can accurately be predicted.
Similarly, your company looks at the sales forecast to get an idea of what to expect in sales today, monthly, quarterly, or annually. Some companies claim that a sales forecast, when done correctly, is the most important part of a business plan.
By producing a sales forecast, you are accurately predicting what your company’s sales and/or revenue will be in the future. Thus, you can see why this is such a crucial part… Read More