A good wine will take as long as it takes to reach maturation. Much like forecasting, you don’t want to rush the process. Manage fluctuations and work towards your business goals with a high yield of great tasting wine.
1. Revenue per customer: Dependent on whether you sell retail or wholesale, your revenue per customer is a crucial metric to measure. Would branching out to new customers help your brand recognition?
2. Wages to revenue: Measure the percentage, proportion or amount of revenue which is being generated in relation to your wage costs. You’ll see if you need to hire or streamline. Adding this to your forecast will show if you might need seasonal workers too.
3. % of grapes purchased vs sold: Compare purchases to your forecasted sales. It’ll decrease your chances of making a loss, as you’ll be able to fight future fires in the present day. You need to get this ratio correct for a successful season.
4. Land investment: Plans need to be made in case of unexpected opportunities. A large contract could be what it takes to get your business into the next stage of growth. Putting some thought into where you want to be next will keep the focus on success, and forecasting will help you see how to get there.
For more KPIs, have a look at our KPI Library.Find out more about revenue per customer here.Calculate wages to revenue here.Put your % purchased against sold in your forecast.Add land investment to a scenario model to see if it’s financially the best choice for your business.