Budgeting & Forecasting for High Growth Companies

A Roundtable Discussion

Budgeting and Forecasting for High Growth Companies - Red Granite | Outsourced Accounting in Chicago, IL

From best practices, to forecasting, to budgets gone bad…

…we recently hosted a roundtable discussion on budgeting and forecasting for high growth companies at The Junto Institute in Chicago, IL. 

One of the key takeaways from this discussion were the essential questions to ask for each stage in building a budget.

Related Read: When building your business budget don’t get bogged down with office supplies but do get detailed with your biggest drivers, like income, COGS, and personnel expenses. 

The Essential Questions for Each Stage of Building a Budget

Stage 1: Creating the budget.
  1. What key assumptions are we making?
  2. Will we have the needed cash flow?
  3. What are our drivers of growth and costs?
Stage 2: Reviewing the budget.
  1. What assumptions were accurate/inaccurate?
  2. Why did we miss revenue? (long sales cycle, churn etc.)
  3. Why do we have lower profit margins?
Stage 3: Revising the budget.
  1. How should we revise our assumptions?
  2. Can we shorten the sales cycle? (e.g. using a free trial..)
  3. Can we automate a task that we do across all clients/customers?

See the full slide deck below for Budgeting & Forecasting for High Growth Companies.

Now that we’re part of one of Chicago’s most prestigious CPA firms, Ostrow Reisin Berk & Abrams, Ltd, you’ll also find us online at www.orba.com.  With our ORBA colleagues, we’re positioned to offer you an expanded array of state-of-the-art services. 

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