Forecast On Purpose - Business Growth Advisory for Entrepreneurs Ben Cooper (ForecastOnPurpose.com)

We will get into the specifics in more detail in future episodes, but the goal of today is to set the stage for what makes a great forecast and focus on the primary parts.Objective today: inspire imagination about what’s possible and give permission to define purpose.Three P’s (see visual) PurposeThe “Why” Custom definition of successWhat will make this all worthwhile?Why does it matter? Others will quickly offer their definition of successWe might think it will bring us fulfi...

There are a handful of ways you can think about defining success:What is your "flag in the distance" toward which everything should align?What is the “why” or purpose behind what you do and care about?When you get to the end of your life and look back, what do you hope to see?(Company) will (goal) by (date), which will allow me to (result).This is important because it means I will be able to (driving "why").I know I will be on track along the way because I will (checkpoint) by (date).--------...

How did the business start? What problem is it solving in the world?What are the current key decisions being considered?Who are the decision makers?How have revenue and expenses changed year over year?What kind of seasonality does your business experience?What are your current pricing methods and gross margins?What are your current total fixed period costs per month? -----------------Want customized help building out a growth plan for your business? Schedule a free strategy call at ...

So how will we actually reach the results we want? Now it’s time to connect the dots between where we are today and where we want the business to go.When we extrapolate historical financial patterns into the future, we are able to develop an initial baseline forecast that paints a picture of our current trajectory. This initial picture can be tailored to include known changes and upcoming investments.However, we don’t need to just blindly accept what we see in this first initial picture–-we a...

Objective today: Predict the revenue - Narrow the region of darkness instead of crossing fingers hoping to repeatConcept: what are the building blocks behind we make money?Number of Units x Revenue per Unit How many will I sell?What is the right price?Common mechanisms ProductServiceSubscriptionHow does it change over time?Seasonality Q4 for consumer good always boosted by Black Friday & Cyber Monday salesOrganic growth Natural increase over previous year or ...

- Objective today: - Unit economics - like individual Lego building blocks that make up the overall profitability picture - Revenue per unit - Any cost during making and selling - Connected to gross margin. - - Every % is a penny of each $ available to cover overhead- Concept: - What makes it improve? - Increase price &nbsp...