We’ve spent the last few days looking at forecasting in your business, but how do we use that information to make meaningful changes that will change the business outcomes?
Using benchmarking data to create a Financial Roadmap to your Best Case Scenario Forecast.
Find the benchmarks for your industry, and figure out where you differ from everyone else. Maybe you have a legitimate reason for this. Maybe your reasons are even sound. You still need to see where you are, identify where you want to be, and find the path that will get you where you are planning to go.
Some people might call this a budget, but I don’t. Budgets are restricting, Financial Roadmaps are freeing. Financial Roadmaps are literally showing you how to get where you want to go. You set the plan. You set the destination. You set the path to get there.
If your path includes lunch for your staff every day from the finest restaurant in town, that is up to you. But you can also see the impact that makes on how you get to your destination. It allows you to make decisions based on the end result of those choices instead of external pressures or gut feelings.
Will there be detours? Yes. But at least you are heading in the right direction.