Have you ever wondered how your business would look if you charged a little more for your products or services? Or, are you considering adding more employees and wondering if you can afford it? Is now the right time to invest in some new equipment or should you wait a few months?
Today, we’re launching “what-if scenarios” in LivePlan to help you answer these questions.
We want to make it easy for you to experiment with different forecasts and budgets to see how changes in your business will impact your bottom line. The new scenarios feature should do that for you.
Now, you can create up to 10 different forecasts for your business. Create an optimistic forecast to set targets for your team. Create a pessimistic forecast to see what will happen to your business if sales don’t go quite as planned.
Scenarios are also a great way to answer those difficult cash flow questions. Let’s say you are considering taking on a new loan for some much-needed equipment for your business. But, you’re not sure how that’s going to impact your cash moving forward. Now, you can simply copy your current forecast, add the new loan, and see how it impacts your cash over the next several months and years. It’s a great way to figure out if you should invest in your business now or if you should wait for a better time.
In addition to the new scenarios feature, we made minor changes to how some of the forecast screens are organized in LivePlan. You can now find forecasts for taxes, dividends, cash flow assumptions, and financing in a “more” menu in the Forecast tab. We haven’t taken anything away, just rearranged things a little.