Reason #10 Why You Should Do Business Projections
Jun 02, 2021 by Roger Scherping
Roger recently appeared on the Small Small Business (SSB) podcast. Learn how SSB helps small businesses here.
Roger discussed 10 reasons why you should do business projections. Here’s reason number ten.
Roger Scherping: All right, number 10 I call “Stop managing by the seat of your pants,” or another way to say it, “Are you controlling your business, or is your business controlling you?” Do you ever feel like all you’re ever doing is reacting to the things that happen in your business? Do your days never go as you intended because you’re always dealing with one unexpected crisis after another? This can be a very stressful situation leading to people getting burned out. It’s no way to run a business. It feels like you’re always sort of being dragged behind the car.
So, to me, you need to get out in front of things if you want to control the business. Get out from behind, and you’ve got to get out in front of it to control the business, and a projection is a great place to start because a projection by definition puts you out in front. You have a different vantage point now. You’re looking forward. You’re looking ahead. You can start making decisions proactively now. No more reacting. You see where you want to go, and now you can start making the decisions that will get you there.
Steve Fredlund: That’s so good. Clarity, right? It’s all about clarity.
Roger: Right. And I think of most of the small businesses that I’ve worked with, everybody is focused – they’re great. They’re great businesses. They’re all focused on one thing, though. They’re all heads down trying to get the orders out by Friday. That’s all that they think about. And I always encouraged them, let’s just stop, let’s all pick our head up and look around, make sure we’re on the path we want to go on, want to be on, and if we are, OK then, put your heads back down and go back to work. And part of that picking your head up and looking around is doing a projection. Are we on the path that we want to be on? If we are, OK then, go back to work. And so I think that’s my number 10 reason why you should be doing a projection.
Steve: That’s so good. I mean there’s – this is really good.
Listen to Roger’s previous reasons on our YouTube page.
You can hear the entire podcast here.