How Do I Forecast On Purpose?

01/06/23 • 12 min

Forecast On Purpose - Business Growth Advisory for Entrepreneurs

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)
- Purpose
  - The “Why”
  - Custom definition of success
  - What will make this all worthwhile?
  - Why does it matter?
    - Others will quickly offer their definition of success
    - We might think it will bring us fulfillment as well, only to find out too late that it doesn’t
- Plan
  - Projections and growth scenarios
  - How do my current decisions either positively or negatively affect the future?
  - Why does it matter?
    - Can have strong purpose or desire but grow discouraged if not seeing it leading toward meaning
- Progress
  - Profitability levers that can improve margins
  - What can I improve to accelerate results?
  - Why does it matter?
    - Course correction sooner than later
    - Proactive rather than reactive

What is it that you truly want and hope for from your business?

- Symptoms:
  - Unsure which path to take in fork in the road
  - Feel stuck
  - Don’t know where to turn
- Action: Challenge you to take time to reflect on your desires

-----------------
Want customized help building out a growth plan for your business?
Schedule a free strategy call at Amplify.Business
Download free pdf guide at ForecastOnPurpose.com
Connect on LinkedIn
Watch episodes on YouTube

Three P’s (see visual)
- Purpose
  - The “Why”
  - Custom definition of success
  - What will make this all worthwhile?
  - Why does it matter?
    - Others will quickly offer their definition of success
    - We might think it will bring us fulfillment as well, only to find out too late that it doesn’t
- Plan
  - Projections and growth scenarios
  - How do my current decisions either positively or negatively affect the future?
  - Why does it matter?
    - Can have strong purpose or desire but grow discouraged if not seeing it leading toward meaning
- Progress
  - Profitability levers that can improve margins
  - What can I improve to accelerate results?
  - Why does it matter?
    - Course correction sooner than later
    - Proactive rather than reactive

What is it that you truly want and hope for from your business?

- Symptoms:
  - Unsure which path to take in fork in the road
  - Feel stuck
  - Don’t know where to turn
- Action: Challenge you to take time to reflect on your desires

Previous Episode

Forecast On Purpose - Trailer

If you’re an entrepreneur with questions about the future like:

How do I grow my business in a way I’ll be proud of?
What will my cash position be 6 months from now if I hire this new person or expand my production?
Which specific actions can I take to increase profitability and accelerate results?

Get some clarity, confidence and peace of mind by tuning into Forecast On Purpose, where we talk about how to define your purpose, build a growth plan and track progress along the way to make sure you stay on target

Go to forecastonpurpose.com to learn more, and remember: you are not alone and you don’t have to just blindly guess about the future. Keep fighting the good fight and forecast on purpose.

Next Episode

How Do I Build A Growth Plan?

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?

Forecast On Purpose - Business Growth Advisory for Entrepreneurs - How Do I Forecast On Purpose?

Transcript

How do I create a forecast that matters? One that shows a path to getting what I care about most? Most entrepreneurs don't have a clear and compelling roadmap for the future.
Welcome to Forecast On Purpose, where we talk about how to define your purpose, build a growth plan and track progress along the way to make sure you stay on target.
The result is confidence and peace of mind that you were on the right track. My name is Ben Cooper and I'm the founder of Amplify. We help entrepreneu