Financial Forecasting for Small Business Owners

Financial Snickens

Just as forecasts for daily weather help us prepare for ever-changing temperatures, financial forecasts allow small business owners to make informed decisions in an ever-changing market.

In this episode, I emphasize how financial forecasting helps predict where your money is going while keeping your company moving in the right direction.

In this episode, you’ll also hear:

• Anticipating income and expenses
• Determining resource allocation and ROI
• Tools for forecasting and reviewing financials

Must-listen moments:

[00:02:32] There might be something more that you need to have, and this way you can strategically allocate these resources, money, people, so that you will be able to take advantage of these situations when they arise.

[00:03:38] Whether you're providing a new service, or you're going to do a new product launch, you can estimate the revenue and expenses that are associated with this new adventure you're going on and see if it's worthwhile to do.

[00:06:48] The other thing about financial reporting, this forecasting that is done, is you have to regularly review it and adjust it. It is not a set it and forget it.

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