Anticipating Economic Downturns and Maintaining Revenue Growth

When the economy is strong and business is booming, it is easy to focus on present success and delay planning for future challenges. Newer business owners and entrepreneurs often prefer to delight in their own accomplishments rather than engage in long-term strategic planning. However, no boom lasts forever, which means that this naïve approach can be quite costly.

Contrary to popular belief, it does not take a severe recession to hinder business operations. Even small changes in the overall economy or an individual vertical can negatively affect revenue growth. Economists and experienced business owners understand that waiting to plan until an economic downturn has occurred can be a catastrophic mistake.

Topics: Revenue Growth Planning Forecasting

Smarter Sales Forecasting - Important Questions You Must Ask Your Team

“The goal of forecasting is not to predict the future but to tell you what you need to know to take meaningful action in the present.” - Paul Saffo

Market volatility and economic disruption are once again becoming the norm, making it more vital than ever that businesses have a strong grip on their revenue forecasts. Not only does strong revenue predictability provide a solid platform for critical decision-making, but it has also proven to be a winning business practice.

Topics: Leadership Planning Forecasting

Predictions for 2018 (and My Recommendations)

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I believe it is important to start working on next year’s strategy about four months in advance of the new year. By doing so, you have enough time to make an impact on the last quarter and lay the foundation for the next fiscal year to start well. If you find yourself working on your 2018 strategies now, don't delay - there's still time to complete them.

Have you seen the predictions for this year? Some are wild and crazy, and others astound me.

Topics: Business Development Planning Forecasting