The Forecast
An Inside Look at How Successful Leaders Drive Revenue Growth
by Rick Ralston
Learn the secrets of how successful businesses consistently predict and grow revenue.
Imagine how great it will feel presenting to your board when the team is perfectly aligned, everyone knows their numbers, and has a proven process to deliver growth.
It’s not a dream. It can be reality.
Praise for The Forecast
“In a world filled with uncertain business outcomes, The Forecast guides an entrepreneur through a step-by-step process for driving growth. Rick’s engaging storytelling turns the complex topic of financial forecasting into easy to understand leadership lessons.”
Amar Bhidé – Author of the Origin and Evolution of New Businesses.
Whiteboard Illustrations
Meeting Summary Notes
Assessment Questionnaires
Forecasting Process
- Who on the forecasting team is responsible for pulling together the overall forecast?
- Who are the team members involved in the forecasting process?
- What tools are in place to develop and monitor actual results compared to the forecast?
- What are the three to five key initiatives being implemented which will impact the forecast?
- What are the specific timelines for delivering on these initiatives?
- What is the biggest risk to effectively delivering on the forecast?
- What is the biggest opportunity that can be captured in the upcoming period?
- How does the leadership team receive feedback on the strengths or weaknesses in the forecast?
Research & Development Forecast
- Who on the forecasting team is responsible for tracking R&D timeline metrics?
- What tracking tools are in place to track R&D timeline metrics?
- What are the trigger points in the R&D timeline for telling marketing when to prepare?
- What are the trigger points in the R&D timeline to tell sales when they can start selling?
- What are the quantifiable ramifications to the forecast if the R&D milestones are missed?
- How are data privacy and security concerns addressed to reduce risk to the R&D timeline?
- How are defects in existing products addressed to reduce risk to the R&D timeline?
- How does the R&D team receive customer feedback on the developed product?
Marketing Funnel Forecast
- Who on the forecasting team is responsible for tracking the marketing funnel metrics?
- What tracking tools are in place to track marketing metrics?
- What are the top three to five lead sources delivering the highest volume of leads in the forecast?
- Which lead sources deliver the highest and lowest dollar value to customers?
- Which lead sources deliver the highest and lowest percentage of won customers?
- Which lead sources deliver the shortest and longest sales cycles?
- What is the cost per lead associated with each lead source?
- How does the marketing team receive customer feedback on alignment of marketing messaging with customer expectations?
Sales Forecast
- Who on the forecasting team is responsible for tracking the customer success process metrics?
- What tracking tools are in place to track sales process metrics?
- What are the phases in your sales process?
- What are the specific criteria needed for a prospect to move from one phase to the next?
- What is the overall average close rate?
- What is the overall average sales cycle?
- What are the seasonality assumptions, if any, in the close rate or sales cycle?
- How are both won and lost prospects surveyed to learn and improve?
Customer Success Forecast
- Who on the forecasting team is responsible for tracking the customer success process metrics?
- What tracking tools are in place to track customer success metrics?
- How many customers are forecasted to expand in the next period, and at what dollar value?
- How many customers are forecasted to experience contraction in the next period?
- What will the average dollar value be for contractions per customer?
- What are the recent historical retention rates for customer counts and dollar value?
- What methods are used to track customer satisfaction?
- How are lost customers surveyed to learn and improve?