Close of First Quarter

March 31st is the final day in the first quarter of the fiscal year. This signifies the closing of the first quarter for businesses operating on a typical calendar year.

Now that the first quarter is completed - what can you see about your year so far?



This is the time to examine your first quarter. Typically you will want to compare it to the first quarter of the previous year, as well as to any projections and predictions for the current year. You want to review important items like, whether you are on track with the budget you planned for the year, or if you need to cut back or alter your projections. Did your company encounter unexpected costs? Are your employees and their compensation rates making sense for your current path? Is your revenue more or less than predicted? What outside, economic influences affected your quarterly outcomes?



After examining your first quarter and concluding whether you are satisfied to follow the original plan you set in place, or you feel the need to re-work some things, be sure to re-commit to your goals. Whether you are ahead of, or behind schedule, set in motion a strategy to maximize your likelihood of success. Be exacting in your goals and uncompromising in your efforts.

But remember, this is only the first quarter. You still have three more to go!