Forbes Article: Seven Strategic Approaches To Assessing Quarterly Accomplishments
Moving into the second quarter of the year, entrepreneurs should be well aware by now that the only way to ensure that their company gets more efficient is to examine its performance in the previous quarter and see where it can improve. Performance evaluation is much more than just an assessment that focuses on a small core of metrics.
Gearing up for the second quarter relies on determining where the company dropped the ball in the first quarter. In dealing with strategic approaches, these seven members of Young Entrepreneur Council look at their own methods of determining their goals for the second quarter based on performance in the first and explain how their approach helps their teams gear up for a more productive quarter.
5. Closely Track Your Cash Flow
Every business should have a 13-week cash flow forecast in place at the beginning of the year. This forecast maps out your quarterly budget and projections so that the executive team knows how to measure expectations and performance. Reviewing it weekly helps us mitigate surprises and address cash flow issues before they become a major problem for the company. The forecast allows us to better evaluate overall company performance quarter to quarter. - Jennifer A Barnes, Optima Office, Inc