This is a reminder that all business planning and budgeting requires guessing the future. Times of crisis mean much higher uncertainty. But we don’t just guess — we guess, then track results, and then revise. Our guesses get better over time.
Whether you hire someone or do it yourself, you want to create three forecasts: an optimistic, best-case one; a realistic likely one; and a worst-case one that imagines what will happen if customers who owe you money go out of business and that this crisis drags on...
