I was just reading a few articles listed in my daily Google Alert for Small Business. I noticed several reports from corporations about their first quarter earnings. Hmmm. . . How many of other small business owners take a look at their first quarter earnings? Do You?

First quarter reports tend to look only at numbers. How much revenue increased or decreased. How much expenses went up or down. And on and on.

It is good to know how much revenue you are generating in comparison with the expenses your are incurring. That translates to - Are you making any money? It is also good to know if all your products and services are profitable.

I think a first quarter report is more than just numbers. I think it's important to evaluate customers and clients. Did you lose some repeat clients? If so, why? You don't want to lose clients so it's important to know why someone leaves so you can keep it from happening again. Once in a while it is good to lose a client especially if they are high maintenance and your fee doesn't cover all the extras.

Did you land some new clients? If so, how? You will want to be able to repeat the process to increase your roster (i.e. your revenue).

My first quarter was interesting. I lost one long time client. He decided it was in his (and his family's) best interest to return to the work force rather than continue with a struggling business. Some choices are out of my hands. Four new clients joined my roster. I am happy to be helping individuals and their companies in New Jersey, Washington, California and New York.

How was your first quarter?