‘If you don’t know where you are heading, how will you know when you’ve arrived?’
Developing a business to the best of its potential takes more than a great idea, product or service, it also requires strong management, foresight and a strong sense of direction.
Accurate forecasting can help a company not only to develop in the right direction it can also prove invaluable in reacting to those changes that cannot be predicted such as market innovations, economic slow-down, rapid growth and great opportunities.
The idea of preparing financial forecasts, cash-flow projections and budgets can be extremely intimidating, that is why Butt Miller offer an exhaustive service designed to help businesses of all sizes…read more
Cash-flow is the life blood of many, if not the vast majority of businesses and we have all witnessed fine companies that appear to be well-run, experience difficulties associated with a cash crunch.
A well-researched cash-flow forecast will not only help avoid these potential pitfalls but may also identify positive opportunities to increase profits and allow investment or expansion. The same forecast might also show areas of possible weakness which would allow a business owner time to react accordingly, tighten up credit, change stock levels or look at staff numbers.
Forecasting minimises risk and maximises opportunity.
The quality of the information used to create the forecast will inevitably affect its usefulness and here at Butt Miller we never focus on a single outcome. We look carefully at the best, worst and most likely scenarios for each part of the business and report accordingly.
Sound forecasting will also help with applications to potential business partners and financial institutions. Professionals appreciate businesses that have a clear idea of business finances and will make judgements based upon their impressions upon how they see a business being run.
There is a great deal more to forecasting than creating a nice looking graphic, serious thought and planning goes into the process. These considerations reflect the vital nature of forecasting to a business, please call or email for more information and a chat about our services.