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Sales Forecast Concepts and Tools

Like it or not everybody in business has to forecast sales, even though the term accurate sales forecast is an oxymoron. The sales forecast is used in two ways to help manage any business. It’s an estimate of upcoming revenues to help the operations guys plan sourcing and manufacture and distribution. It helps the accountants anticipate cash flow, and it helps the CEO set analysts expectations, But it’s also a management tool – see elsewhere in this blog for an explanation of Henri Fayol’s theory – which equips executives to create plans, deliver on them, and find ways of increasing the quality and efficiency of processes. So the bottom line is you have to forecast sales. You might as well do the best job you can.

Why doesn’t the traditional approach to selling and sales management work so well any more? What can the modern sales professional do to stay relevant in today’s customer driven markets? Check out our eBook Reengineering Sales Management  for ideas on how to embrace the new order of customer driven buyer/seller relationships.

Automated Sales Management Could Be a Reality Soon

Sales Forecast

Will we see systems for automating sales management soon? With today’s competitive markets, and corporate demands for more performance at lower costs, there has to be a compelling business case. Smart software already makes operations more efficient, and cost effective in other applications. Many services which used to be personal and labour intensive are now [...]

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The Good, The Bad and The Ugly Sales Guys

Sales Forecast

What’s the difference between good and bad sales people,and how can you assess them. Is it activity rates, close rates, total sales, or margin, or customer satisfaction? Maybe it’s just making target quarter after quarter. The red meat issue, for those who don’t know about selling, is activity. It’s a simple measure, and easy to [...]

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5 Ways to Forecast Sales – Which One is Yours?

Reengineering Sales

How many methods or techniques are there for sales forecasting? There are 5, in my experience, offering varying accuracy and utility. Here’s the background and a short explanation of each. We all know forecasting sales is a tricky business. It always involves some element of hope, combines a little fear, and is based on some [...]

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Why Bother With Sales Forecasts

Sales Forecast

What is sales forecasting to you? What does it for your business? How do you calculate your forecasts and act on the results? Most people don’t understand the point of it, because usually it doesn’t work, for them at least. But with the right techniques, sales forecasting can make a big difference in any business. [...]

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Sales Forecasting as a Competitive Advantage

Sales Forecast

Can sales forecasting be a competitive advantage in your sales team operations? It can if you adopt the principles we explain in our Sales Probability and Process Management theory. Most people use sales forecasting as a tool for estimating future income, without a great deal of confidence it has to be said. They’ll also use [...]

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So Just How Confident Are You

Sales Forecast

Sales Forecasts based on confidence aren’t worth the paper they’re written on. A subjective, single dimension assessment by sales reps not grounded in fact can only ever be a guess. Consider this example conversation between sales representative and sales manager while reviewing the sales forecast. “How confident are you we’ll win that sale? How sure [...]

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Focusing on Your Cash Pipeline

Sales Forecast

Have you looked at your cash pipeline lately? In fact, have you thought about your small business cash management strategy in terms of a cash pipeline? A series of activities beginning with some spending on prospecting and ending with a surplus, after expenses are deducted from what the customer pays. Everybody will be familiar with [...]

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4 Sales Tools to Increase Productivity

Sales Forecast

Four simple Sales Tools can make the difference between the average sales performer and the Ninja superstar. They have nothing to do with clever tricks or motivating philosophies. They have everything to do with being organised, focused and productive. Anybody responsible for sales, from the raw recruit to the Managing Consultant, will produce more revenue [...]

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Why Sales Forecasts Are Never Right

Sales Forecast

Sales forecasts are the perennial problem for sales managers, and reps for that matter, Its strange how the C Suite understands cash and profit forecasts are just that – best guesses about what will happen – but seem to think sales forecasts are guarantees. I guess the sales manager is an easy target. Bosses seem [...]

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