{"id":2246,"date":"2016-01-21T23:58:03","date_gmt":"2016-01-21T22:58:03","guid":{"rendered":"https:\/\/www.myexcelonline.com\/?p=2246"},"modified":"2024-02-06T15:58:17","modified_gmt":"2024-02-06T14:58:17","slug":"use-excel-goal-seek-to-meet-your-profit-goal","status":"publish","type":"post","link":"https:\/\/www.myexcelonline.com\/meo-staging\/blog\/use-excel-goal-seek-to-meet-your-profit-goal\/","title":{"rendered":"Use Excel Goal Seek To Meet Your Profit Goal"},"content":{"rendered":"<p>Say you have a quarterly Profit Statement and your Sales for Q1 and Q2 have been reasonably well but in Q3 they dropped dramatically. \u00a0You are left with one quarter to\u00a0meet your Net Profit goal of $200,000.<\/p>\n<p>You can use Excel\u00b4s Goal Seek feature (under What If Analysis) to find out what Sales you need to achieve in Q4 in order to meet your Net Profit goal of $200,000.<br \/>\n<iframe src=\"https:\/\/www.youtube.com\/embed\/2KIELOYxngM?rel=0 \" width=\"800\" height=\"400\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/c\/MyExcelOnlinecomtutorials?sub_confirmation=1\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"alignmiddle wp-image-111468 size-full\" style=\"vertical-align: middle;\" src=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2019\/04\/1.yt_.png\" alt=\"\" title=\"\"><\/a><br \/>\n<span style=\"text-decoration: underline; color: #0000ff;\"><a class=\"IRPP_minimalist icon-download\" style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/Goal-Seek-Budget-Values.xlsx\" target=\"_blank\"><span class=\"ctaText px-3 text-capitalize\">Download excel workbook<\/span><span class=\"postTitle px-3\">Goal-Seek-Budget-Values.xlsx<\/span><\/a><\/span><\/p>\n<p><span style=\"color: #ff0000;\"><strong>STEP 1:<\/strong> <\/span>Select the cell that you want to achieve your goal of $200,000 which is\u00a0the\u00a0Total Net Profit in cell <strong>F7, <\/strong>which is\u00a0a Sum formula<strong> (Important: This cell must be a <a class=\"wpil_keyword_link\" href=\"https:\/\/www.myexcelonline.com\/meo-staging\/blog\/top-excel-formulas-function-examples-to-get-better-at-microsoft-excel\/\" target=\"_blank\" rel=\"noopener\" title=\"formula\" data-wpil-keyword-link=\"linked\">formula<\/a> for the Goal Seek to work)<\/strong><\/p>\n<p><a href=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/Select-Net-Profit-cell.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" title=\"Use Excel Goal Seek To Meet Your Profit Goal\"  class=\"alignnone size-full wp-image-2247\" src=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/Select-Net-Profit-cell.png\" alt=\"Use Excel Goal Seek To Meet Your Profit Goal\" width=\"723\" height=\"188\" srcset=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/Select-Net-Profit-cell.png 723w, https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/Select-Net-Profit-cell-300x78.png 300w\" sizes=\"(max-width: 723px) 100vw, 723px\" \/><\/a><\/p>\n<p><span style=\"color: #ff0000;\"><strong>STEP 2:<\/strong> <\/span>Go to <strong><em>Data &gt; What If Analysis &gt; Goal Seek<\/em><\/strong><\/p>\n<p><a href=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/what-if-analysis-goal-seek.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" title=\"Use Excel Goal Seek To Meet Your Profit Goal\"  class=\"alignnone size-full wp-image-2249\" src=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/what-if-analysis-goal-seek.png\" alt=\"Use Excel Goal Seek To Meet Your Profit Goal\" width=\"171\" height=\"161\" \/><\/a><\/p>\n<p><span style=\"color: #ff0000;\"><strong>STEP 3:<\/strong><\/span>\u00a0<strong>SET CELL:<\/strong>\u00a0This is the\u00a0cell that contains the\u00a0goal we want to achieve,<strong> F7<\/strong>, and is selected automatically<\/p>\n<p><a href=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/set-cell-goal-seek-excel.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" title=\"Use Excel Goal Seek To Meet Your Profit Goal\"  class=\"alignnone size-full wp-image-2251\" src=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/set-cell-goal-seek-excel.png\" alt=\"Use Excel Goal Seek To Meet Your Profit Goal\" width=\"212\" height=\"141\" \/><\/a><\/p>\n<p><span style=\"color: #ff0000;\"><strong>STEP 4:<\/strong><\/span>\u00a0<strong>TO VALUE<\/strong>: Type the goal value that you want to achieve. \u00a0In our example, it will be<strong> 200,000<\/strong><\/p>\n<p><a href=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/to-value-goal-seek-excel.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" title=\"Use Excel Goal Seek To Meet Your Profit Goal\"  class=\"alignnone size-full wp-image-2253\" src=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/to-value-goal-seek-excel.png\" alt=\"Use Excel Goal Seek To Meet Your Profit Goal\" width=\"212\" height=\"141\" \/><\/a><\/p>\n<p><span style=\"color: #ff0000;\"><strong>STEP 5:<\/strong><\/span>\u00a0<strong>BY CHANGING CELL:<\/strong> Enter the reference for the cell that contains the input value that you want to adjust. \u00a0In our example it is the <strong>Q4 Sales forecast in cell E5<\/strong><\/p>\n<p><a href=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/by-changing-cell-goal-seek-excel.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" title=\"Use Excel Goal Seek To Meet Your Profit Goal\"  class=\"alignnone size-full wp-image-2254\" src=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/by-changing-cell-goal-seek-excel.png\" alt=\"Use Excel Goal Seek To Meet Your Profit Goal\" width=\"510\" height=\"198\" srcset=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/by-changing-cell-goal-seek-excel.png 510w, https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/by-changing-cell-goal-seek-excel-300x116.png 300w\" sizes=\"(max-width: 510px) 100vw, 510px\" \/><\/a><\/p>\n<p><span style=\"color: #ff0000;\"><strong>STEP 6:<\/strong><\/span>\u00a0<strong>Press OK<\/strong> and Goal Seek will run and produce a result. \u00a0<strong>Press OK to keep the results or Cancel to discard<\/strong><\/p>\n<p><a href=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/goal-seek-result-excel.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" title=\"Use Excel Goal Seek To Meet Your Profit Goal\"  class=\"alignnone size-full wp-image-2256\" src=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/goal-seek-result-excel.png\" alt=\"Use Excel Goal Seek To Meet Your Profit Goal\" width=\"717\" height=\"331\" srcset=\"https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/goal-seek-result-excel.png 717w, https:\/\/www.myexcelonline.com\/meo-staging\/wp-content\/uploads\/2016\/01\/goal-seek-result-excel-300x138.png 300w\" sizes=\"(max-width: 717px) 100vw, 717px\" \/><\/a><\/p>\n<p>With Goal Seek we need to achieve Q4 Sales of $437,730 in order to achieve our Net Profit goal of $200,000. \u00a0Over to the Sales team then to make it happen!<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Say you have a quarterly Profit Statement and your Sales for Q1 and Q2 have been reasonably well but in Q3 they dropped dramatically. \u00a0You are left with one quarter to\u00a0meet your Net Profit goal of $200,000. You can use Excel\u00b4s Goal Seek feature (under What If Analysis) to find out what Sales you need [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cos_headline_score":0,"cos_seo_score":0,"cos_headline_text":"","cos_headline_has_been_analyzed":false,"cos_last_analyzed_headline":[],"om_disable_all_campaigns":false},"categories":[6,41],"tags":[114,116],"acf":[],"_links":{"self":[{"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/posts\/2246"}],"collection":[{"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/comments?post=2246"}],"version-history":[{"count":0,"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/posts\/2246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/media\/17358"}],"wp:attachment":[{"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/media?parent=2246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/categories?post=2246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myexcelonline.com\/meo-staging\/wp-json\/wp\/v2\/tags?post=2246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}