What are projections and why do you need them?
Projections are an estimate—or forecast—of a future situation. For example, if you’re thinking of hiring on another employee you will want to sit down and figure out how much that employee will cost you and whether you have enough business to offset that cost. If you realize that perhaps a full-time employee might not be realistic, you can run projections for a part-time employee or an outside contractor (such as us!). You can also figure out how many clients you’ll need in order to be able to hire anyone. Simply put, before you make any major decision for your company, run a few scenarios through your budget first.
If you're not sure about this, or anything else about your business or books, give us a call for a consultation! It's what we do!