It doesn't matter where you are in the revenue organization, not knowing your forecast has dire consequences.
But the forecast isn't just a number that you call in a meeting, or an outcome at the end of the quarter… It's the fundamental business process.
Mark Cranney is a prominent figure in the venture seed investing landscape, specializing in assisting product-centric founders and startups in scaling their Go-To-Market operations. With his extensive experience and expertise, Cranney plays a vital role in advising and providing strategic guidance to these companies. In this episode of the Run Revenue Show, Mark talks about the importance of accurate sales forecasting and business planning, he provides insights on how to achieve predictability in sales, expand territories, and reallocate resources by understanding ROI, attributions for spend, and pipeline growth.
Here's what's inside:
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Make your pipeline visible: Knowing the total pipeline and scrutinizing it is important for making investment decisions and enabling sales decisions. A healthy business requires understanding how the pipeline is growing in order to gauge when to put more headcount into play.
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Focus on accurate forecasting: Forecasting accurately is the most important aspect of revenue leadership. A lot of work is needed from both a top-down and bottom-up approach to accurately predict business outcomes. By accurately forecasting revenue, businesses can optimize their operations, improve their financial performance, and stay ahead of the competition.
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Competency in customer success and finance teams is necessary: This is what makes accurate forecasting. It doesn't happen with just revenue leaders, but everyone involved in the go-to-market process should be held accountable. Data analysis is key in identifying trends and driving business decisions.
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