Creating realistic projections involves several steps:
Data Collection: Gather historical data, market analysis, and industry benchmarks. Trend Analysis: Identify trends within your data to understand past performance and predict future outcomes. Scenario Planning: Develop different scenarios (best-case, worst-case, and most likely) to understand the range of possible outcomes. Assumptions: Clearly state and justify the assumptions used in your projections. Regular Updates: Continuously update your projections with new data and insights to remain accurate and relevant.