A strong financial forecast is at the heart of any successful Strategic Advising relationship. Many people assume that reporting is the most important, but the forecast provides the roadmap, and therefore the basis for advisory services.
As an accountant for small businesses, the critical differences between cash and profits have been ingrained into your mind. You know that both profitability and cash matter to the health of a business. But your clients are focused on cash, and often ask you, “why doesn’t my cash match my profit?” This informational gap is all too common with advisory relationships—so how do you overcome it, once and for all?Read More
For most small business owners, payroll is the most important payment they will make each month. It’s also very often the largest monthly expense. For so many of your small business owner clients, likely their first monthly cash flow consideration is, “can I make payroll?”Read More
When small business owners are stressed from financial uncertainty they need information from their accountant that will help them from feeling blind-sided by unknowns, and enable them to forge a clear path forward.Read More
Helping your clients understand their cash flow is an integral part of delivering quality advisory services. But cash flow isn’t just about the current financial position.
Creating an accurate cash flow forecast gives your clients the insight necessary to drive decision making for their business.Read More
Over the last few months, we’ve released a variety of new features and improvements for LivePlan, many of which are specifically developed for LivePlan Strategic Advisors.
Our continued goal is to improve the overall experience for you and your clients—allowing you to serve more clients, build better forecasts, and generate strategic and thoughtful reports.
New entrepreneurs frequently ask me for advice about forecasting their sales. These entrepreneurs are always optimistic about the future of their new company, but when it comes to talking about the details, most aren’t sure how to predict future sales and how much money they’re going to make.Read More
If you want to know how your business compares to the competition, you can find your answer in industry benchmarks. Benchmarks are industry standards, or guidelines, for key financial metrics. Basically, they represent the average of key numbers collected from many different businesses and then sorted by industry.Read More
It’s business planning not accounting. Your projections, although they look like accounting statements, are just projections. They are always going to be off one way or another, and their purpose isn’t guessing the future exactly right, but rather setting down expectations and connecting the links between spending and revenue.Read More
So for me, what makes a sales forecast credible?
It starts with product market fit. I want to understand the story of the need, and not necessarily big numbers, but who needs this and why.
That’s the beginning.Read More