I encourage all my clients to develop a job forecast. Why? Because it helps them to plan and manage jobs and their businesses better. It enables you to understand when jobs will start, how long they will take and when you can invoice for the work.
I was with a client yesterday who has taken their Job Forecast to a new level, which is great. However. and it was recognised by them. that they were still not using it to it's full potential, so we had a discussion about what that should be.
The key to this is that, as simple tool, it can help you run your business. It identifies key steps in the process to start actions, rather than leaving it to the last minute or trusting to luck.
It enable this client to understand their cash flow, invoicing targets and ensure these are met. Where invoicing will change it enables them to look for other income streams to meet the target. It enables better discussions at management meetings around where jobs are and what needs to be done to ensure that invoicing is accurate and timely.
So, how can we improve this? Simple really, we need to understand the accuracy of our invoice estimating and are going to compare actual invoicing against forecasted invoicing.
If you want to learn how developing a Job Forecast can help you, then get in touch. We may even be able to get some funding to help you develop and embed it in your organisation.