We’re into the new year and you may have tried to do a forecast for your business. But with the pandemic still ongoing, and especially with some states still severely shut down, it may be hard to determine what your sales goal should be for 2021.
What I would suggest is creating multiple scenarios so that you can adjust as necessary throughout the year. For instance, in most cases, you generally want to have a best-case, worst-case and realistic scenario. So, I would suggest looking at your trends and adjust as necessary based on what’s happening in this current period, as well as what has happened over the last nine to 10 months to help you adjust your sales figures as necessary.
And then as time goes on, whether it’s each month, week, quarter, year, whatever determination you make, you can adjust those sales figures. As you see what’s been happening again with this pandemic, it’s really hard to know what is going to happen, and when things will get back to “normal” that will allow you to make more reasonable expectations of sales over the next 12 months.
Again, it’s ideal that you create those different scenarios and create assumptions that will help you determine what truly could happen based on that assumption.
Here at Affordable Bookkeeping and Payroll, we really want to work with our clients to help them with more than just the historical bookkeeping, but to use that data to make decisions and determining what forecasts and budgets might need to be. If you need some help in this area, feel free to reach out to us at (310) 534-5577, email@example.com, or you can send us a message through our website at www.abandp.com.
We’re here to help you.