The Prosperity Playbook: Planning for a Successful Family Business Succession

Forecasting is a best-practice tool that already exists in every large company. It is simple, easy to use, and well worth your time and effort.

For now, putting together your own trailing twelve-month charts using a spreadsheet is the best solution.

if you close one in five opportunities, your close ratio for that section of the funnel is 20% (1 divided by 5 = 20%).

Overhead expenses are the overall costs of running the business outside of cost of goods or services sold.

What do your most loyal customers buy from you?

What is the potential of different products or services in terms of units and gross profit?

Do I want to achieve my goals? If so, what changes are needed in investment in personnel?

Forecasting is predicting the future.

If there is one number that’s the single most important factor in achieving your net-income goal, it is gross margin as a percentage of sales.