There’s nothing more frustrating for a sales leader, a CEO or a Board of Directors than a continued inability to come up with a revenue forecast that consistently hits the target numbers. But - as anyone who has had the responsibility knows only too well, accurate forecasting is a tough task.
That’s particularly true in complex sales environments with multiple variables. And it’s a sad truth that there are no magic wands. But - as I hope to prove in this occasional series on the essentials of effective sales forecasting - there are some basic foundations that need to be laid.
At the most basic level, forecasters - and everyone they depend on for data - have to work off a common set of definitions about what exactly they mean by various forecast categories. It sounds like it ought to be simple, but I’ve been exposed to far too many sales environments where even this most basic objective has not been achieved...Read More