Too often, we as business leaders or owners prepare a forecast for a specific purpose such as an application for a loan or new property lease. But then what? For most, stepping away or putting it in the drawer to never be seen until someone asks for one again is a common occurrence.
A solid financial forecast should be used as a business tool to identify your financial position and destination at any point in time.
Whether you’ve never thought about the preparation of a financial forecast for your business before, or you’re now willing to pull it out of the drawer and dust it off – now is the time to make some changes and updates!
In our recent Experts in Residence Financial Growth session, Sandbox hosted expert Jeff Bond of the York Simcoe CFO Centre to learn more about the importance of having a solid financial forecast and much more. Check out the video below to watch and explore how having a forecast in place can help your business adapt to change and unforeseen circumstances! Interested in saving the slide deck used in the presentation? Scroll down to download!
Some of the main points covered include:
- What your forecast should look like & what is integrated
- How your forecast can provide a foundation to your financial vision
- How having a forecast in place can help you adapt more quickly to unforeseen circumstances (ex. COVID-19 pandemic)
- How a well thought-out forecast will allow you to run scenarios again a variety of current and range future conditions
- How a forecast can prepare you for future impact to your business
meet the expert
Jeff Bond – Principal, York Simcoe CFO Centre
Jeff brings more than 20 years of diverse executive financial and operations experience acquired in the public, financial services, health care, environmental services and e-commerce sectors. Jeff is a CFA with strong operational business expertise, having worked in both entrepreneurial and corporate environments, including 3 start-ups. He has worked with owner/operators, private equity sponsors and publicly-owned organizations.
Jeff has held senior positions such as Chief Financial Officer, Chief Strategy Officer and Senior Director of Operations in companies such as Comcare Health Services, Quantum Murray, CarePartners and Paramed Inc.- the Home Health care division of Extendicare Inc. He has several years’ experience in business start-up and financing, restructuring and turnarounds, M&A, corporate governance, financial reporting & controls, budgeting, legal and contracts, ERP implementations, risk management, IT and human resources management.
Jeff’s hands-on, collaborative approach delivers strong results for business owners and their financial partners in both public and private company settings. His track record of success and delivering value spans launch, steady state, turnaround, pre- and post-acquisition, and growth phases of organizations.