Forecasting your financials is an important part of your strategic business growth planning. Business leaders who make time to translate business goals into a financial roadmap are more likely to realise their strategic plan. Rather than focusing on increasing your top line revenue, we start with your bottom-line net profit and build a holistic budget that will fuel your business growth.
We challenge you to build a budget from the bottom up rather than focusing on top line revenue.
In this workshop, we will start by determining what net profit you want to make, then reviewing all expenses, and looking for opportunities to reduce costs. Top line revenue is then determined taking into account all of the business goals and activities.
This wholistic approach to forecasting financials ensures business owners review every part of their business, not just their revenue model.
- Translate your business goals into financial strategy
- Create a profit reinvestment plan
- Learn how to forecast future income and expenses
- Identify how to correctly allocate your cost of goods sold
- Calculate your revenue gap
- Build a high-level budget from the bottom-up.
About Craig Mitchell, Partner, Business Services at BDO
Craig is a Business Services Partner and a Financial Educator for the Business Growth Program at BDO in Brisbane. Craig develops close working relationships with business owners and managers to help them manage and grow their businesses.
Craig provides taxation and business advice to clients, including family-owned and operated businesses, entrepreneurs, and high net worth individuals. He is an experienced adviser to businesses in the Real Estate & Construction sector, with a particular interest in construction business and QBCC compliance matters.
As a Financial Educator, Craig leads the delivery of our 12-month financial education and Business Growth Program in Brisbane. This program has a strong foundation in financial literacy, and it provides business leaders with a strategic framework for business and personal growth. Craig is dedicated to empowering business owners by improving their financial literacy to make informed strategic decisions to grow their business.
Craig joined BDO in 2015 after gaining experience as an accountant and advisor in a boutique accounting firm and a listed professional services firm.