1. Make three different spreadsheets for good, moderate and bad scenarios.

2. Plan for the worst scenario to at least break even in tough times.

→ 8 Key Entrepreneurial Questions

3. Use cash-flow projection templates and software.

4. Revise your annual forecasts after every major change in your business or economy.

5. Estimate how many sales you think you will be bringing in either weekly or monthly.

6. Consider the terms on which you will be paid.

7. Take into consideration your customers' payment habits as well as your own.

8. Keep your customer terms updated depending on their business performance.

9. Identify developments and trends in information technology that will affect your business processes and customer behavior.

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→ Modern IT-powered Value Chain

10. Remember, no matter which online or offline business forecasting e-tool you use, your forecast is only as good as the data you enter into it.

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