One of the entrepreneurial task is to manage current business operations and prepare for the future business operations. These preparations include some predictions or forecasting the future trends in which the business will operate.
Sales forecast is a simple prediction of the future sales of products or services that your business offer. The sales forecast is a starting point of all next financial projections. Sales forecast is based mostly on selling performance from the past of your products or services and other factors that can have influence on the selling as unemployment, inflation rate, market trends, interest rates, customers spending patterns…
Sometimes one of the most important things that differentiate a successful business from another average one is a good prediction of the future. However, forecasting the future is not a simple process because it is something that still not happened or something that should happen later. Therefore, we must compare our predictions with the actual situation to be able to make corrections in other business elements based on the sales forecast. This is caused because most of our future decisions will be based on this forecast.
With precise sales forecast for the next year you as an entrepreneur can:
- Recognize customer’s demands for specific products for next year;
- Make better allocation of financial and other resources;
- Use forecasting as a starting point for business planning;
- Use forecasting in marketing planning;
- Create a real next year budget;
- Plan future business investments;
- Use forecasting in cash flow calculation;
- Plan future employment;
- Plan your costs more effectively…
Here, you can find sales forecast template that you can use for this purpose. It is designed so that you can see specific products or services sales in the current year and use them to predict sales for next year.
You can download the sales forecast template: Sales Forecast Templates (Right Click and Save Target As).