Powered by Twitter Tools
Powered by Twitter Tools
Powered by Twitter Tools
Often times companies struggle to forecast revenue performance. They blue sky or set stretch goals, or just as bad, try to manage the business to a budget.
If you’re leading a company it’s important to set goals for revenue performance. Creating a top line revenue forecast moves the focus of the company towards growth while creating the cash to build a budget to support the forecast.
Experience suggests a few simple steps to creating a forecast:
After working through these steps one realizes meeting the forecasts comes down to execution. Obviously, the quality and commitment of people to execution of the plan to meet the forecast will determine if your company grows or stalls. The benefit now is that you and your organization are working towards the sames goals, and can make changes as circumstances dictate.
Peter Klinge, Jr. has more than 20 years of business experience working in small to F100 companies. He uses his experience as an operating executive and board advisor to help small to mid size companies achieve their growth objectives.
Powered by Twitter Tools
Powered by Twitter Tools
Over the Memorial Weekend we ventured out to Eastern Utah to visit the famous dinosaur park. A remarkable site… Utah is filled with all kinds of wonders.
People are familiar with the gorgeous national parks, skiing, and perhaps even recall the 2002 Winter Olympic Games Salt Lake hosted.
What you might not know is that Utah is a bustling hive of start-ups and privately owned companies. Perhaps more small companies per capita than any other state in the Union.
The state’s character and culture consists of self-reliance, initiative, and family. This leads many would be entrepreneurs to complete college, sometimes not, with a business plan to start a company that will support themselves, families, and friends.
Sometimes they grow to be quite successful. Omniture an Adobe company is an example. But most of the time the companies remain small, and the entrepreneurs migrate from one company to the next in search of the next strike as if they are panning for silver and gold in the 1800s in Park City.
Occasionally there’s a company that is building a substantial enterprise for generations to come. I came across a company called Qualtrics by the Smith family. Forbes 6/4/12 issue article The Best Kept Secret in Tech is in Utah. Notable in this story is that they turned down a $500MM offer to buy their company. The reason: give up a smaller part of the company, and build a significant company that grows and stays in Utah.
Lessons to share that this company is taking applies to any entrepreneur following a similar path. First, recognize it is really hard to manage from a start up to a growth stage. The skills for starting a company, securing funding, obtaining first sales are different than later growth stages for propelling the company forward where sales are multiplying and people and processes are needed to create a scalable foundation.
Other points to consider:
Peter Klinge, Jr. is an executive and advisor for various companies. His expertise areas include leadership and general management, marketing and business development.
Powered by Twitter Tools
Powered by Twitter Tools
Powered by Twitter Tools
