Financial Forecasting Part 3: Sustaining Success for Small Businesses

To complete your financial forecasting journey, after analyzing data, selecting methods, and planning scenarios, these final steps ensure your small business stays agile and thrives.

Update Forecasts Regularly

Refresh your forecast monthly or quarterly to reflect new data, such as sales trends or unexpected costs. Regular updates help businesses adapt to market shifts, reducing financial risks significantly. (Source) Tools like Wave simplify tracking changes in real-time.

Monitor Performance

Compare actual results against your forecast using software like QuickBooks. Monthly reviews catch discrepancies early, preventing costly errors. For example, if payroll—often 20-50% of expenses—exceeds projections, adjust spending promptly. (Source) This keeps your business on track.

Leverage Insights for Growth

Use forecasting insights to inform hiring, budgeting, or expansion decisions. For instance, stable cash flow projections can justify offering benefits like Exectras’ Virtual Primary Care, which in turn boosts employee retention, and decreases days out due to sickness.

How We Help

Exectras supports small businesses with cost-effective payment processing, lowering transaction fees to enhance cash flow predictability. Our myExectras Wellness Platform, featuring Virtual Primary Care and wellness challenges, stabilizes HR costs, making forecasting easier. By updating regularly and monitoring performance, small businesses can drive sustainable growth and navigate challenges with confidence.

Book a demo and start mastering your financial future today!