Welcome to forecast month!
WAIT! DON’T CLICK AWAY!
I know forecasting is a word that often scares people off because they feel it’s complicated and hard. And to be honest, sometimes there are outside factors that can complicate things.
But my mission here is to make finance FUN for you; not boring, not scary, not unapproachable… a tool that’s in YOUR language and aligns with your business goals.
So trust me on this when I say that forecasting is a game-changer.
And guess what?
We can prevent getting a big tax bill surprise by the time we get to April 15th.
We can predict where we think we’re going to come in at the end of the year.
And how we do that?
Yes! Implementing a forecast in our business!
Why Do I Need to Forecast?
This month, I’m covering the “why” and the “how” of forecasting. Whether you are just starting out or you’re a $10 million dollar business, this is an exercise that you need to be able to do for your business.
Whether you’re still working out of a shoebox or whether you’ve got QuickBooks/Excel, or if you haven’t kept track of anything at all this year, this can be something that every single entrepreneur can do without causing too much pain—I promise.
What that does is give us another three months in this year and actually some time for items in early 2018 to make sense. We have three months to make well thought-out decisions about how we might be able to mitigate that April tax bill.
So the big why for forecasting is: with a forecast, we get good information on what the year’s going to look like and still have time to take action.
Everybody wants to get rid of that April tax surprise, from professional singers, to 5-million-dollar business owners, to kids making 1099 incomes.
So let’s go ahead and start thinking about forecasting over the next few days.