Care About Profit? Get Serious About Forecasting.

If you think forecasting is primarily about inventory planning, think again. Taken seriously, forecasting forces you to stare your business's financials in the face so you can design your PNL for profit. That makes it a fundamental skill in operating an ecommerce brand. In today's episode I make the case for forecasting as a key step in designing your PNL for profit, then planning, executing, and tracking towards that profit design. SUBSCRIBE ON YOUTUBE The Andrew Faris Podcast is now available on ⁠⁠YouTube⁠⁠ at www.youtube.com/@andrewfarispodcast. EPISODE HIGHLIGHTS [00:00:51] Forecasting provides clarity for profit. [00:08:48] Forecasting helps understand business performance. [00:10:01] Forecasting helps control costs. [00:14:33] Forecast Opex for scalable growth. [00:18:44] Forecast your business for clarity. EPISODE SPONSOR Virtual assistants can be helpful. Virtual professionals can transform your business. Get connected to incredible ecommerce talent from the Philippines with More Staffing by visiting ⁠⁠⁠⁠www.morenow.co⁠⁠⁠⁠. RESOURCES REFERENCED IN THIS EPISODE The Lightspeed Cohort Forecasting Model Dave Rekuc's CXL Forecasting Course FOLLOW UP WITH ANDREW Follow Andrew on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@andrewjfaris⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Email Andrew: [email protected] Work with Andrew: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ EPISODE MUSIC Music Intro: "⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tell Me Mama⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠" by The Devious Means Music Outro: "⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Rusty Little Scissors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠" by The Devious Means