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9 Forecasting Phrases to Listen For

May 24, 2019 by Jack O'Riley 1 Comment
Part of the “secret sauce” in playing The Great Game of Business is developing a consistent Huddle rhythm that includes forward forecasting your income statement by "line owners," or people close to the numbers that have responsibility for reporting each line of the P & L. The level at which associates embrace this practice varies across Huddle team members—some take it very seriously, while others devote little or no time to this critical process. As a coach who has been a part of hundreds, if not thousands, of Huddles, I've learned what to listen for in a forecast. When I hear phrases like these below, it alerts me to dig a little deeper and ask questions of the line owner to promote a better thought-out and more accurate forecast:
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Forecasting 101: 3 Tips for Success

Mar 19, 2019 by Lauren Haley 0 Comments
A financial forecast in business is a prediction of what’s going to happen. Not what you hope will happen, not what you fear will happen, but your best guess as to what’s likely to happen. While reviewing and analyzing company performance and financials is an important process in the business world, the past cannot be changed. Forecasting is a tool that makes financial reporting a forward-focused, educational process where changes and adjustments can be made to influence the outcomes of the numbers.  What does it take to properly forecast? Here are three tips on making forecasting work in your business:
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6 Key Components of Financial Forecasting

You wouldn’t drive your car while only looking in the rear-view mirror…why run your business looking only at the past? This is the method many businesses have used for decades: close the books, review the numbers, repeat. While reviewing and analyzing company financials is an important process, you can’t change history. Forward financial forecasting is a way of communicating your company’s financials while keeping all eyes on the target. The purpose of forward forecasting is not to predict the future, but to influence it. This process minimizes surprises by having employees estimate or offer an educated opinion on what to expect.
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Automating Financial Forecasting with Office365, SharePoint and PowerBI Score Boards

Aug 30, 2018 by Bryce Finnerty 0 Comments
Want to learn how to enhance how you play the Great Game of Business? Open-book management is a powerful tool to grow profitable businesses that benefit all employees and stakeholders. At the core is financial literacy, which includes financial forecasts that are reported in weekly Huddles and presented on white boards, so everyone can follow the action and keep score to know if they are winning or losing The Game. We want to show you how to go beyond traditional desktop tools like Excel for financial forecasting and scoreboards. 
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Tips You Need to Know for Forecasting Cash Flow

Sep 10, 2015 by Jack O'Riley 0 Comments
Forecasting cash flow is the key to the survival of many organizations, yet it’s a non-existent process in others. Often, organizations with abundant cash see little value in taking the time to put a system in place to do this. Other organizations that operate with little or no cash see forecasting cash flow as a critical element in running their business in such a manner as to avoid a crisis of liquidity. The truth is, Forecasting cash flow should be a part of the monthly business cycle, regardless of your cash situation, and here is why. 
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Power Plant Employees Control Costs & Impact Bottom Line

American Electric Powers’ (AEP) Pirkey Power Plant in Hallsville, Texas, has been providing low-cost power to its customers since 1985. The plant is part of a division of AEP called Southwestern Electric Power (SWEPCO), which is composed of eleven plants over a three-state region that includes parts of Texas, Louisiana, and Arkansas. 
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Catering Company Survives Tough Times by Teaching Employees to Think Like Owners

Tasty Catering began as a fast-food hot dog stand called Tasty Dawg more than 25 years ago. Founded by a trio of entrepreneurial brothers, Tom, Larry and Kevin Walter, the company, which is based in the Chicago suburb of Elk Grove Village, Illinois, now serves up tasty treats at weddings, corporate meetings and conferences, social events, residential parties, special events, holiday parties, outdoor picnics, and more. Beyond its great food, Tasty has also garnered dozens of awards for its outstanding company culture.
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Family-Owned Manufacturer Improves Gross Margin with The Great Game of Business

The Kiolbassa Provision Company is a 65-year-old family-owned manufacturer of handcrafted sausage based in San Antonio, Texas. Originally started as more of a pork and beef processor, the company shifted into making sausage fulltime under the guidance of president Michael Kiolbassa, whose grandfather started the company. The company’s sausages will soon be sold in all 50 states and in Mexico. 
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Australian Accounting Firm Increases Productivity & Engagement Using Open-Book Management

O’Connells OBM is a progressive chartered accounting firm based in Brisbane, Australia, that specializes in providing its clients with proactive tax and business advisory services. The OBM in the firm’s name is short for open-book management, which the company first embraced some 15 years ago. 
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Aircraft Repair Company Uses Financial Forecasting to Avoid Pay Cuts

Founded in January 2000 in Fort Worth, Texas, Texas Air Composites (TAC) repairs and overhauls aircraft for airlines and other private owners all over the world. 
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Disciplined Forward Forecasting

Aug 12, 2013 by Jack O'Riley 0 Comments
The High-Involvement Method for Improving Financial Performance Assuring that the time and money spent on Forward Forecasting yields greatly improved financial performance is certainly one of the primary results expected from this process.  A key element of financial Forecasting success is the involvement of the right people regardless of functional area, organizational position or geography.
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Timing: It will Drive you Crazy

The race to end the accounting year is full of twists and turns. You really don’t know where you are going to end up until that final day where your year officially ends, after which you can begin the arduous process to close your books. But those twists and turns sure make life interesting to plan for.
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About The Great Game of Business

Our approach to running a company was developed to help close one of the biggest gaps in business: the gap between managers and employees. We call our open-book approach The Great Game of Business. What lies at the heart of The Game is a very simple proposition: The best, most efficient, most profitable way to operate a business is to give everybody in the company a voice in saying how the company is run and a stake in the outcome. Let us teach you how to develop a culture of ownership, where employees think, act and feel like owners.