Demystifying Financial Forecasting for Good Business Planning

National Rural Health Resource Center Podcasts

Financial forecasting begins with thinking through how to deliver the product or service that your customers may want. Rural Health Innovations (RHI) has developed a tool, Product and Service Canvas, that helps generate thinking for this development. To get to the end goal and complete a Canvas, you must be clear on your financial goals and consider your assumptions. This work prepares you to estimate costs and project revenues, ultimately forecasted net income for each of your network’s products and services.

To take the mystery out of financial forecasting, RHI, in partnership with Steve Stoddard, have developed a tool that will help you think through and calculate a forecasted net income for each of your network’s products and services. With financial forecasts in-hand, you will be able to complete your business planning effort ultimately providing your network members and potential funders with a better understanding of your network’s sustainability, where you are achieving your goals, and are able to continue doing so over time.