When you're just getting started, you won't have data about how your business converts customers - at least not yet.

While it's crucial to set up the right systems and analytics to drive the business, it isn't going to help you create the sales forecast you need now.

When you're flying in the dark, you can use top-down benchmarks that you can find online or ask from others with businesses in a similar position to yours. Some of the benchmarks relevant to your business are:

• Cost per click (if you plan on search engine marketing), which you can estimate using free online tools like WordStream. Maybe you will use other marketing tactics - the important thing is to know the cost per engagement and guess the conversion to sale per tactic.

• Conversion rates to sale (which depends on what you're selling and industry, but 1-3% is ballpark for online. You can google better ones for your business)

• Spend per sale (which should be driven by the prices of your offering, or benchmarked to competitor pricing)

To create a sales forecast, you can use a formula such as:

• Number of customers = conversion rate * your marketing budget / cost per click

• Sales forecast = Number of customers * spend per sale

Because you're using high level estimates, it's incredibly important to create a realistic range. Use the brutally lowest estimates for your low case, and the high end of real benchmarks for your high estimates.

You might not like the number you see, but without a rock-solid plan on how to raise them (which likely requires investment), they're the most accurate you can get - that is, until you have data of your own to work with. Some businesses buck the trend and outperform (or massively under-perform) the benchmarks. Let data and experience help you learn where your business really stands.

Need someone to pressure-test your sales forecast? Reach out to our coaching team.