What’s the difference between a forecast and a projection? I know that I often use those terms interchangeably. Does anyone care? Does it even matter? Yes, it does matter, or at least it can. There is a subtle but significant difference between a forecast and a projection. It probably won’t matter too much for your internal discussions, but if you’re talking to a professional like a banker or a potential investor, you should be clear on whether you’re presenting them with a forecast or a projection. ... [continue reading]

We created ProjectionSmart to help entrepreneurs and owners of small businesses under $10 million in sales. Those are the specific people we set out to help. We want to help them see their financial future and understand the numbers of their business. We know that most of them don’t have a finance background and also don’t have a controller or CFO to help them, so we made ProjectionSmart easy to use and simple to understand. So far we’ve helped lots of entrepreneurs and small business owners see where... [continue reading]

Gino Wickman spent many years consulting at small companies. He worked with thousands of businesses and every type of entrepreneur or business owner. In his experience he found that all small companies had basically the same problems. Regardless of their industry, they were all struggling with the same issues. Wickman grouped their problems into six areas: Vision, Data, People, Issues, Process and Traction. Since he knew most small business owners have never been to business school, he knew they didn’... [continue reading]

Most companies are facing trying times right now. Revenues have dropped suddenly and dramatically, and they certainly will stay at reduced levels for at least a short time, but maybe for longer. Companies are having to make decisions about cutting staff, reducing inventory, and reducing expenses. For most companies, these decisions are difficult to make because it’s not often we suddenly find ourselves in these very difficult situations – think 9/11 or the Great Recession. Most of us just aren’t prepared... [continue reading]

This week I met with three entrepreneurs who Bob and I met through a workshop on business planning that we hosted for SCORE (Service Corp of Retired Executives). All three entrepreneurs are starting or running small businesses. I love working with entrepreneurs and have great respect for their vision, determination and confidence. They told me about their businesses, and I told them how ProjectionSmart could help them understand the numbers of their businesses. ProjectionSmart Startup One of the entr... [continue reading]


Tag Cloud

[ ProjectionSmart ] [ startup ] [ numbers ] [ succeed ] [ fail ] [ Planning ] [ Plans ] [ Budget ] [ Projection ] [ Number ] [ Plan ] [ Balance Sheet ] [ Cash Flow ] [ control ] [ failure ] [ crystal ball ] [ financial picture ] [ future ] [ options ] [ risk ] [ model ] [ income statement ] [ P&L ] [ equity ] [ bizowner ] [ micro-business ] [ entrepreneur ] [ Proof Plan ] [ banker ] [ investor ] [ mistakes ] [ profit ] [ cash ] [ mistake ] [ sales ] [ margin ] [ markup ] [ margin percentage ] [ business plan ] [ business planning ] [ bootstrap ] [ bootstrapping ] [ debt ] [ bank ] [ investors ] [ success ] [ turnaround ] [ Growth ] [ financial statements ] [ fear of finance ] [ see the future ] [ confront your concerns ] [ proof ] [ forecast ] [ look ahead ] [ financial model ] [ financial projection ] [ failure rate ] [ first year ] [ decision making ] [ sales forecast ] [ expenses ] [ insights ] [ SCORE ] [ The Blueprint ] [ projections ] [ templates ] [ spreadsheets ] [ loan ] [ accounting ] [ Gross margin ] [ gross profit ] [ net income ] [ better business decisions ] [ financial projections ] [ overhead ] [ accounts receivable ] [ accounts payable ] [ revenue per employee ] [ business plans ] [ Finances First ] [ crisis ] [ scenario ] [ Predict ] [ CPA ] [ accountant ] [ spreadsheet ] [ Cuban ] [ manage ] [ companies ] [ subscriptions ] [ start ] [ business ] [ entrepreneurs ] [ create ] [ confidence ] [ Startups ] [ small business ] [ cash flow statement ] [ entrepreneurship ] [ cash basis ] [ accrual basis ] [ podcast ] [ see ] [ pandemic ] [ banking ] [ regulatory ] [ decisions ] [ finances ] [ accrual ] [ taxes ] [ RAAP ] [ cash management ] [ financial impact ] [ troubled ] [ strategy ] [ peace ] [ struggling ] [ reasons ] [ banks ] [ FranNet ] [ franchise ] [ information ] [ intuition ] [ proactive ] [ reacting ] [ tactics ] [ survey ] [ tool ] [ statement of cash flows ] [ vision ] [ goals ] [ subscription ] [ Excel ] [ QuickBooks ] [ understand numbers ] [ costs ] [ scale ] [ advisor ] [ prediction ] [ trusted advisor ] [ client ] [ benefits ] [ Process ] [ monthly ] [ forward-looking ] [ forward ] [ backward ] [ staff ] [ modeling ] [ predictions ] [ pricing ] [ reports ] [ Linked User ]

Five stars

"I've started a few businesses, and for the last three I ran my ideas through ProjectionSmart to help me make a go/no-go decision. Without that initial review of what the future might look like, I wouldn't have known which ones were a good use of my time and which ones were a bad use of time. ProjectionSmart guided me to the right decisions. It's easy to use and a fantastic product."
~ John, serial entrepreneur

Five stars

"Roger and staff are wonderful to work with! Such a great planning tool for small businesses!"
~ Sam, Entrepreneur

Five stars

"ProjectionSmart is truly an invaluable tool for both start-ups and established businesses looking to get financials in order. I am in the process of getting a start-up put together, thus creating a valid projection of revenue and expenditures will help get funding and create a solid plan to succeed. Super easy to use and intuitive! "
~ Marissa, Entrepreneur

Read more reviews