In an ideal world, sales teams and business leaders would have crystal balls to help them predict accurate sales forecasts . With these predictions, it would be easier to create budgets, set goals, know when you’ll need to hire more people, and so much more. Unfortunately, crystal balls belong in the movies, and predicting anything in business, especially revenue , can be challenging. Then what’s the best way to go about creating sales forecasts for your business? Firstly, you need to understand what forecasting is. In a nutshell, a sales forecast is your predictions of what you will sell weekly, monthly, quarterly, or annually. An important element for forecasting is to be more realistic than hopeful. Too often, sales teams will be overly optimistic when setting goals. This, unfortunately, leads to disappointment when you’re halfway through the year and your team starts realizing that you’re still far from reaching your …
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