Create a forecast: What can education services learn from sales?

A sales forecast is an expression of expected sales revenue. It estimates how much your company plans to sell within a certain time period—and the best sales forecasts are extremely accurate. All sales forecasts answer two key questions: 1) how much money each sales opportunity is projected to bring into your business; and 2) when your sales team expects the revenue to hit. 

Accurate sales forecasts are extremely important to business health. They help the entire business allocate resources to ship products, pay for marketing, hire employees, or whatever else suits the company’s needs. 

For example, an accurate sales forecast helps your company make better and wiser investments—such as how many people to hire, and more importantly when to hire, allocating for sufficient onboarding and ramp up periods. Accurate sales forecasting basically helps companies allocate resources to meet customer demand both today and in the future. 

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