Business Strategy for CPA's 137 Rolling Forecasts: How to Explore Risk and Opportunity with Your Clients
Do you hear all this talk of including forecasting for your client, but when it comes to implementing, you’re a bit deer in the headlights?
Shifting into forecasting and scenario planning for your clients is a significant shift - in terms of process, what you feel confident in, and your own mindset.
My guest today is Laura Landmark, (CEO) & Co-Founder of Mantle Analytics, which provides custom financial reporting for companies whose needs have outgrown the abilities of the software platforms whose names you would recognize.
Mantle Analytics uses technology to dig down into the data and uncover insights that are critical in steering the business towards its goals.
This episode is all about rolling forecasts and what you need to know to optimize their use in your business on your clients’ behalf.
What a rolling forecast is:
- big picture
- a version of the future designed to provoke conversation
- A tool that helps clients make better informed decisions
- Data organized in a way that can help the business owner build toward that very reality
- A picture that helps the client visualize what might happen in their business, or what potential reality they may want to avoid
- As fresh as possible, and “real-time” should be clearly defined
What a rolling forecast is not:
- A promise
- A target that the business owner needs to deliver on
- A prediction guaranteed to happen
How do I start implementing rolling forecasts for my clients?
Start with a revenue and gross profit forecast, by profit line or by customer segment
Then build into the next level of sophistication.
Get good at asking questions!
- What could be done to improve net profit
- What if you stopped doing X
- What if you doubled-down on Y
Connect with NAME:
Website: https://mantleanalytics.com/en/
Linked In: https://www.linkedin.com/in/laura-landmark/
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Want some help in your CPA firm, but not sure where to start?
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