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3 Ways to Get Started With Strategic Advising

[fa icon="calendar'] Tue, Apr 30, 2019 / by Kathy Gregory posted in Business Process for Advisory , Budgeting and Forecasting

Are you looking for ways to begin Strategic Advising as a service to small business clients, but are unsure where to start? The work can feel “big” if it’s new for you.

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How to Use Industry Benchmarks to Make Budgeting and Forecasting Easier

[fa icon="calendar'] Tue, Apr 16, 2019 / by Noah Parsons posted in Budgeting and Forecasting

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.

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Financial Forecasting: The Foundation of Strategic Advising

[fa icon="calendar'] Sat, Sep 29, 2018 / by Kathy Gregory posted in Business Process for Advisory , Budgeting and Forecasting

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.

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Forecasting Versus Budgeting: What’s the Difference?

[fa icon="calendar'] Wed, Jan 31, 2018 / by Kathy Gregory posted in Business Process for Advisory , Budgeting and Forecasting

It’s the question I get asked the most by accountants who are thinking about branching into Strategic Advising services: “I do budgeting already. What’s the difference between a budget and a financial forecast?"

The answer is both simple and complex, and has a lot to do with the real value of advisory services, which is aiding small business growth.

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Planning Principle: It’s Business Planning, Not Accounting

[fa icon="calendar'] Fri, Apr 14, 2017 / by Tim Berry posted in Working with Clients , Budgeting and Forecasting

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.

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What Makes a Sales Forecast Credible?

[fa icon="calendar'] Wed, Jun 15, 2016 / by Tim Berry posted in Budgeting and Forecasting

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.

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How to Forecast Sales

[fa icon="calendar'] Fri, May 13, 2016 / by Tim Berry posted in Budgeting and Forecasting

This article is part of the Bplans “Business Startup Guide”—a curated list of our articles that will get you up and running in no time!

First, allow me to deal with a very common problem: Business owners are often afraid to forecast sales.

But, you shouldn’t be.

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The Recommended Sales Forecasting Method

[fa icon="calendar'] Fri, May 6, 2016 / by Noah Parsons posted in Budgeting and Forecasting

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 how much money they’re going to make.

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What Is a Market Forecast?

[fa icon="calendar'] Fri, Apr 1, 2016 / by Tim Berry posted in Budgeting and Forecasting

A market forecast is a core component of a market analysis. It projects the future numbers, characteristics, and trends in your target market. A standard analysis shows the projected number of potential customers divided into segments.

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Content, tips and best practice for accountants, CPAs and bookkeepers who offer Strategic Advising Services to small business clients.

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