In my previous post on Setting Up Your Financial Goals in Microsoft Excel, I showed you how to begin laying out what really amounts to the beginning foundation for creating projections. I refer to them as “goals” because while projections are useful in obtaining financing if you need it, I think the same basic process is even better served when you use it to establish and track progress in reaching your financial goals.
So if my goal is to go from $250,000 per year to $500,000 per year, then I need to lay out the financial roadmap for how I am going to get this done. So far, we have gone as far as to look very roughly at how many contracts we would need based on an assumption about the average gross amount per contract to reach our sales goals. It was also spread very evenly over the timeline, which of course isn’t realistic. That was just to get a starting point established.
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