Demystifying Financial Forecasting for Good Business Planning
Financial forecasting begins with thinking through how to deliver the product or service that your customers may want. Rural Health Innovations (RHI) has developed a tool, Product and Service Canvas, that helps generate thinking for this development. To get to the end goal and complete a Canvas, you must be clear on your financial goals and consider your assumptions. This work prepares you to estimate costs and project revenues, ultimately forecasted net income for each of your network’s products and services.
To take the mystery out of financial forecasting, RHI, in partnership with Steve Stoddard, have developed a tool that will help you think through and calculate a forecasted net income for each of your network’s products and services. With financial forecasts in-hand, you will be able to complete your business planning effort ultimately providing your network members and potential funders with a better understanding of your network’s sustainability, where you are achieving your goals, and are able to continue doing so over time.
- Be introduced to a Network Product and Service Canvas Sample, Annual Health-Oriented Educational Conference, with a complete financial forecast
- Learn how to use RHI’s product and service Financial Outlook Worksheet to estimate costs, project revenues, and forecast net income
- Understand how to complete your Business Plan using a Network Product and Service Canvas Template in concert with the Financial Outlook Worksheet
This workshop will build on the network’s Marketing Plan by building out the Business Model Canvas while increasing knowledge of each component of the Business Planning Canvas, with an emphasis on the Financial Forecasting component of the canvas.
Marketing is defined as discovering and meeting the needs of network partners to the mutual, continuous benefit of all parties. Your marketing plan outlines, in detail, the ways that the network will meet member needs and communicate with members. Learn about the toolkit designed to support your work of developing a marketing plan for your project.