So, what should be on your Quarter 2 Checklist? So glad you asked.
1. File your taxes
➤If your business pays its taxes on April 15, make sure your CPA has everything they need to complete your taxes, or that they’re prepared to file an extension.
➤Depending on your business’s finances, you might be paying quarterly taxes to the IRS, as well. This can be a good option to avoid owing a large amount in April.
2. Perform an audit of Quarter 1
➤Review the goals you set for quarter 1, and evaluate how successful you were
➤Take time to celebrate your successes. What did they teach you about your strategy moving forward?
➤For the goals you didn’t meet, how will you adjust your plan in quarter 2, or should your goals shift?
3. Review your finances
➤Prepare a report of your business’s finances for the quarter. How did it compare to the quarter 1 from the previous year? How does it compare to your quarter 4 finances?
➤Are there tweaks you can make (change of a supplier or distributor, changing product or service price) that can improve your business’s financial health?
4. Evaluate your Business Identity
➤Look at your marketing materials, social media posts, and website with fresh eyes and ask yourself a few questions:
➤What story is your brand telling? Is the message consistent across all platforms?
➤Are you able to connect with your customers in a meaningful way?
5. Plan Quarter 2
➤Ask yourself the questions: What would you like your company to accomplish in the next three months? What will it take to get there?
➤When you set goals, break them down into measurable and actionable chunks.
➤A goal shouldn’t be “I want my business to make more money” but rather “I want my business’s revenue to increase by x%, and I will accomplish this by ….”
➤Learn from your failures and build upon your wins
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LEGAL DISCLAIMER
The information contained in this video is only for entertainment and educational purposes. If you require legal assistance, you should consult an appropriately licensed attorney. Viewing and commenting on this video or its contents does not create or establish an attorney-client relationship.