This following is excerpted with the author’s permission from a post that appeared recently on the MailerMailer blog.
The economic forecast for 2009 looks dismal. Given the jitters of the market, reviewing your forecasts more frequently throughout 2009 will serve you well. Use this timetable as a guideline for the next six months.
1. January: Prepare your annual forecast. If your market segment is too unpredictable, forecast through June. Prepare monthly targets in line with your forecast.
2. March: Revisit your forecast to see if you are hitting your targets. If not, ask yourself why. What product or service changes can you make to increase sales?
3. April: The first quarter is over. Update your forecast for remainder of 2009, including the product or service changes you identified in March.
4. May: If summertime is usually slow for your business, what promotions do you have planned to keep pace?
5. June: The second quarter is almost over. What is selling and what is not? What changes have occurred in the economy that you need to address? What does the rest of the year look like financially? Can you see far enough into 2010 to identify what you need to be doing now to increase revenue?
Stay focused and don’t take your eye off of the numbers. I’ve been through several recessions — even started my current company in the midst of the last one. Each time it has been the companies that manage cash efficiently that come out afloat, even ahead.
Raj Khera is the CEO of MailerMailer, LLC, which specializes in e-mail solutions for all types of organization.
