Think ahead…

I’ve worked for a variety of businesses in my time and seen many different approaches to the question of whether or not to try and forecast the future. Of course I don’t mean the future of the planet and this kind of forecasting has nothing to do with crystal balls although they are often mentioned in a vain attempt to inject a bit of humour into what many regard as a lost cause.

But if the thought of forecasting sales or  future economic circumstances makes you smile or even laugh at the futility of the exercise, why not just pause for a second to reconsider? You never know – you may just gain a little advantage that gets you ahead and who wouldn’t want that?

So, for me, a forecast of some sort is absolutely vital and a very powerful weapon in my business arsenal. There are a few reasons why I say that – namely focus, creativity and targeting. Taking these concepts in order, I’ll try to summarise what each of them means to me and my business.

Forecasting helps me to focus on where my opportunities lie and where I might encounter obstacles. That may sound obvious but if that’s the case why are so many business people reluctant to do it? Clearly, it requires discipline to set aside time and conduct the exercise but would you plan a cross country hike without knowing the terrain so you could dress and pack provisions accordingly?

Forecasting helps me to unlock my creative side (and we’ve all got one!). It’s impossible to do a forecast without allowing yourself a decent stretch of free time and once you’ve done that the creative juices start to flow automatically. Enjoy the benefits of thinking differently, seeing different angles and adjusting your output accordingly to take advantage.

And finally, forecasting helps me to target my business effectively. I don’t say I will hit all my targets but if I’ve forecast them then they have an identity and a kind of reality which brings them to life. Chasing targets requires self-motivation and who can motivate themselves with just a number? Far better surely to get acquainted with the detail and inject a bit of enthusiasm into the whole exercise to keep you going when the road gets harder!

Maybe, in the last analysis it is sensible to pour a little cold water on forecasting and occasionally ridicule it but just maybe it might be a friend to you when your business hits a bit of choppy water ahead…