How good is your forecasting?

Salescraft Training

Mastering the art of sales forecasting transforms your business from reactive to proactive, giving you power to anticipate cash flow, allocate resources efficiently, and make strategic decisions with confidence. This episode dives deep into the essential skill of predicting not just how many orders will come in, but precisely when they'll arrive.
We explore why forecasting matters so profoundly to business operations, revealing how it impacts everything from inventory management to foreign currency purchases. You'll discover how to recognize and adjust for the natural tendencies of salespeople – some perpetually optimistic about close dates, others consistently padding timelines. Understanding these personal biases proves crucial when interpreting forecast data, whether from your team or yourself.
The episode introduces a powerful, structured probability system that brings clarity to the often murky forecasting process. Each probability level (10%, 25%, 50%, 75%, 90%) corresponds to specific criteria about qualification status, budget approval, competition position, and purchase order progress. This framework eliminates guesswork and creates consistent, reliable forecasts you can actually trust. Plus, you'll learn about the rookie mistake that catches many salespeople – trusting a contact's assurance without verifying with the budget holder.
Don't miss our free one-hour webinar at www.salescrafttraining.com for three immediately applicable sales techniques. Whether you're managing a sales team or running your own business, the forecasting methodology shared in this episode will transform how you predict revenue, allocate resources, and ultimately grow your business with confidence and clarity.

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Graham Elliott

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Chapters

1. Why Forecasting Matters to Business (00:00:00)

2. Understanding Seasonal Buying Patterns (00:02:46)

3. Qualifying Clients for Better Forecasting (00:05:43)

4. The Probability Rating System Explained (00:09:31)

5. Applying Forecasting to Your Business (00:15:50)

6. Key Takeaways and Resources (00:17:48)