The Andrew Faris Podcast

Care About Profit? Get Serious About Forecasting.

Listen Later

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
          • ...more
          View all episodesView all episodes
          Download on the App Store
          The Andrew Faris PodcastBy Andrew Faris
          • 5
          • 5
          • 5
          • 5
          • 5

          5

          20 ratings

          More shows like The Andrew Faris Podcast

          View all
          a16z Podcast by Andreessen Horowitz

          a16z Podcast

          1,029 Listeners

          Shopify Masters by Shopify

          Shopify Masters

          375 Listeners

          Perpetual Traffic by Tier 11

          Perpetual Traffic

          748 Listeners

          Ecommerce Playbook: Numbers, Struggles & Growth by The Ecommerce Playbook

          Ecommerce Playbook: Numbers, Struggles & Growth

          70 Listeners

          Marketing School - Digital Marketing and Online Marketing Tips by Eric Siu and Neil Patel

          Marketing School - Digital Marketing and Online Marketing Tips

          1,253 Listeners

          Founders by David Senra

          Founders

          1,877 Listeners

          The Game with Alex Hormozi by Alex Hormozi

          The Game with Alex Hormozi

          4,325 Listeners

          My First Million by Hubspot Media

          My First Million

          2,617 Listeners

          Acquisitions Anonymous - #1 for business buying, selling and operating by Bill D'Alessandro, Mills Snell, Heather Endresen, and Michael Girdley

          Acquisitions Anonymous - #1 for business buying, selling and operating

          244 Listeners

          Marketing Against The Grain by Hubspot Media

          Marketing Against The Grain

          352 Listeners

          Limited Supply by Nik Sharma

          Limited Supply

          148 Listeners

          OPERATORS by OPERATORS

          OPERATORS

          45 Listeners

          Moneywise by Hampton

          Moneywise

          643 Listeners

          Marketing Operators by Marketing Operators I Connor Rolain I Connor MacDonald I Cody Plofker

          Marketing Operators

          10 Listeners

          Tactical & Practical by Nate Lagos

          Tactical & Practical

          2 Listeners