262 – Forecasting – How to Use and Adjust Your Data Based Numbers in the Field Daily

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One thing that tradies like us fear is the unpredictability of our business’ future. It’s like trying to cross the road with blindfolds on hoping you don’t get hit by a bus along the way. However, what if you have the ability to foretell your business’ financial future beforehand?

That’s what we’re here to discuss in Part 2 of our “Measuring What You Manage: The Only Way to Run a Profitable Business at Scale” series with Danny Kerr. Today, we’ll learn more about forecasting, what steps you need to take to make a sales plan, and what makes it so key in ensuring the survival of your business in drastic situations.

Take charge of the future by tuning in to this episode today!

What’s Discussed in This Episode:

  1. What is forecasting? [03:19]
  2. Data is the building-block of forecasting [04:11]
  3. Start with your financials [05:17]
  4. Stages in forecasting [06:01]
    • The difference between goal-setting and working on it is having a sales plan [08:05]
  5. A sales plan is the contractor’s holy grail for tracking their business [10:48]
  6. It’s alright to take a risk, just not a blind risk [11:59]

About the Guest:

Danny Kerr created his own success in life by starting his own trades business and used the profits to buy his first home. By age 20, he had taken a leadership position with a franchise company and grew sales by 225% in one year. He then spent the next 6 years scaling businesses before co-founding Breakthrough Academy as a way to open horizons for other trades entrepreneurs. 

Breakthrough Academy now works with over 300 contractors across the continent, managing over $900 million worth of revenue, and was rated Canada’s 16th fastest start-up by MacLean’s magazine in 2018.

Resources: 

 

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to The Site Shed: You can also listen to The Site Shed on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in! 

If you enjoyed this podcast and this series, please take 5 to leave us a review:

No joke, Danny has left behind FOR YOU the most amazing templates, frameworks and business tools, you’ll likely ever get your hands on.

There’s cut and paste templates for hiring and job posting, there are how to videos to follow and there’s even an absolutely incredible figure tracking spreadsheet that took Danny and his team over 50 hours to create…and a video on how to use it. Amazing!

He’s also made some time in his crazy busy calendar for you to have a chat with him and his team, so you can learn how to apply those documents directly into your business. Again, for FREE.

They’ve also got loads more awesome things that they’ll be sending you, so fill in the form, grab your stuff and claim your calendar spot right now!

    If you like this content, you should see what else the folks at BT Academy have for you.

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The Site Shed is one of the best online communities and podcasts for tradies out there. The free content provided to members is unbelievable - offering invaluable advice to run a successful business, and the community of tradies is truly awesome. Do yourself a favour and check it out.

Peter Cox Business Man

Great work Matt with all the podcasts and the site shed facebook community group. The amount of information that you can learn for free in this space is unbelieveable. It's great to see like minded contractors and trades trying to improve their businesses and also share ideas and help others. Highly recommend. Thanks!

Ben Hern Business Owner

I have been listening to the pod casts for a few months now, I can't get enough of all the awesome content that you guys provide. Especially when you guys deliver it from a trade perspective which helps out a lot. Keep up the good work and hopefully one day I can afford one of the trade training trips.

Ché Henton Customer

I own a construction company,and i love learning how to make my bussiness more competitive,profitable and how to better serve my clients. The site shed is a wonderful place to get invaluable knowledge no matter your trade .

Michael Mullinax Construction Company Owner

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