In this session we’re going to pull together the numbers of a business plan. Using hands-on exercises with Business Plan Pro, we will forecast sales and estimate starting costs, and we will estimate our ongoing expenses, to show how the plan comes together with projected profits and loss, balance sheet, and cash flow.
OVERVIEW
Forecasting is more art than science. Like the weather forecast, it’s a mixture of research, experience, and educated guessing. You can do it. Whether you like numbers or not, there are some basic estimates you just have to make. Think of it as lists of educated guesses.
DEFINITION
Sales Forecast: The level of sales a single organization expects to achieve based on a chosen marketing strategy and assumed competitive environment. The process of estimating what your business’s sales are going to be in the future.
Costs of Goods Sold (Costs of Sales): The cost of materials and production of the goods or services a business sells.
Comments on this entry are closed.