Do you view forecasting as a chore? Is it something you find yourself cramming for at the end of a quarter, like a final exam in college? Do you resent your management because they relentlessly hound you for predictions of your future sales, which could take the better part of a few precious evenings to put together? Well, with all due respect, we say you are doing it wrong!
Forecasting should not be seen as a chore that needs to be done every so often but as a mindset by which you manage your entire selling career. Yes, forecasting is a mindset, not an activity to be done once a quarter.
So, what does a forecasting mindset look like? Well, the first thing we must do to adopt a forecasting mindset is to change how we view forecasting. There are two primary reasons to forecast consistently. The first is that accurate forecasts help your company’s leadership make informed decisions about production and resources. That is good for you, your company, and your customers because the right resources will be available. Second, a proactive forecasting mindset will help you develop opportunities and accounts. When honestly evaluating your opportunities and pipeline with a forecasting mindset, you will determine what is missing. Then you can develop a plan to acquire it.
We have a checklist of fifteen items that need to be present for a complete forecast. Once you measure your opportunities against our list, forecasting becomes quite objective and not subjective. Once you have an objective forecast, you can develop and execute an objective plan. Join us Friday for help on developing a forecasting mindset.