7 key focus areas in economically challenging times
Bring in other members of your team; sales, marketing, finance and customer relations for example. Everyone will have an ideas.
Forecasting
How to deliver value to your customers
The first thing to understand is that business doesn’t just come to you – you have to be proactive and go out and find it. The work we do now will have an effect on our sales pipeline in 2-3 months’ time, so what value are you adding to your prospects right now?
How to set a marketing budget
Marketing is not a golden ticket to doubling your customer base, but it is a sound investment for future growth. To effectively scale you want your marketing to provide a reliable flow of new leads. In summary, these things will help guide your marketing spend…
Financial forecasting part two – 5 steps to create a profit and loss forecast
Keep your forecast fluid, as a working document, much like your business plan; review it and update it with what actually happened. Don’t hide it away to collect dust!
Financial forecasting part one – How important is a profit and loss forecast?
A forecast can you help answer questions like; How much better could my business be if I looked at the numbers in advance? What is my growth going to look like? What impact is that growth going to have on my working capital? Can I expand my business and make new hires? And do I need to assess my investment spending?