Forecasting business revenue and expenses during the startup stage is really more art than science. Many entrepreneurs complain that building forecasts with any degree of accuracy takes a lot of time—time that could be spent selling rather than planning. But few investors will put money in your business if you’re unable to provide a set of thoughtful forecasts. More important, proper financial forecasts will help you develop operational and staffing plans that will help make your business a success.
Chris Bechtel, Principal and Chief Marketing Officer at Make Good Social, a division of Blue Deer LLC a full-service marketing and business development consulting firm for start-ups and growth-stage organizations focused on strategy + services for demand generation, revenue and growth. Chris is a content marketing, demand generation, social media marketing, online PR professional and growth hacker who has spent more than 15 years working with consumer and B2B startup tech companies as well as leading Fortune 500 companies including ACS (a Xerox Co.), City National Bank, Epson, and Target extend the reach of their content online.