Easter weekend is here; kids are out of school, employees are taking their first vacation week, and the first quarter is ending. For small business owners, the first perfect storm of the year! Let’s use this holiday not just for spring cleaning but to get a fresh start.
Easter provides us with 5 reminders of the fundamentals of our businesses:
Easter Bunny. Our furry friend reminds us that our income taxes have been hopping down the trail… hopefully they have already hopped by us and we’re in good shape; if not we need to put on the finishing touches or file an extension (remembering to include any estimated tax owed).
The Easter Rising. One hundred years ago during Easter Week the Irish finally took matters into their own hands and took some time off from their English overlords. Let this remind us that with kids out of school for a break, employees will be taking their first vacation week of the year. It’s a good time to review employee schedules and payroll. How are we tracking after the first quarter? Are we properly staffed for expected sales? Are we showing appreciation for those employees that are contributing the most to our success?
Hot Cross Buns. (yummy!) These perfectly balanced treats remind us to manage our inventory so that we don’t carry too much and yet have the right amount to fill orders to maximize revenues and customer satisfaction.
Easter Eggs. We’re reminded to not put all our eggs into one basket. This is the time to look at our finances—specifically our cash flow—to make sure that we have our “chickens in a row” in order to sustain our business meet our 2016 goals.
Lamb Cake. For many, a lamb cake is the traditional Easter bottom-line, which is the measurement of the viability of our business. Do we have the right overall mix of product/service offerings, competitively priced yet able to generate a profit? Are we innovating? Are we communicating with and listening to our clients?
As we fill our collective Easter baskets with jelly beans and chocolate bunnies, remember that unlike the weight we may gain, increases in revenue are welcome. Hopefully your business is not in need of an Easter-like resurrection, but most of us can use a healthy spring cleaning. We encourage you to take a good look at where your business is at the end of the first quarter, recommit to positive changes, and enjoy time with your family.