As the seasons change, so do the dynamics of running a business. Just like the four seasons of the year, your business has its own set of seasons—quarters. Understanding how to strategically approach each quarter can significantly impact your business growth and success. In this guide, we’ll explore how to effectively set a quarterly focus, manage your finances, and plan for growth.

Understanding Business Quarters

• Business Quarters:
• Q1: January - March
• Q2: April - June
• Q3: July - September
• Q4: October - December
• Tax Quarters:
• Q1: January - March (Tax due April 15th)
• Q2: April - May (Tax due June 15th)
• Q3: June - August (Tax due September 15th)
• Q4: September - December (Tax due January 15th of the following year)
• Key Difference: Business quarters are for planning and evaluating business activities. Tax quarters are used to pay estimated taxes to the IRS and your state’s Department of Revenue

Quarterly Estimated Taxes and Quarterly Payroll Differences

• Estimated Taxes:
• Personal income taxes based on net profit.
• Paid quarterly to the IRS and state revenue departments.
• Payroll Taxes:
• Taxes associated with running payroll for employees or yourself if you’re an S-Corp.
• Federal and State filed and paid monthly; quarterly reconciliation required.
• Local paid and filed quarterly
• Common Mistake:
• Confusing estimated taxes with payroll taxes. Each has different rules, deadlines, and payment schedules.
• Tip:
• Consider using payroll services like ADP or Gusto to automate payroll taxes and filings. Saves time, reduces errors, and ensures compliance.

Quarterly Goal Setting and Evaluation

• Why Set Quarterly Goals?
• Breaks down annual goals into manageable parts.
• Allows time for implementing changes and measuring results.
• Analyze Your P&L Statements:
• Evaluate performance quarterly.
• Identify patterns or trends in revenue and expenses.
• Compare current quarters with previous ones to spot growth opportunities or challenges.
• Set Net Profit Margin Goals:
• For service businesses like chiropractors, aim for 20-40% profit margins or above depending on business structure.
• Focus on profitability, not just revenue growth. (How much money you keep vs. how much income coming in)

Planning Promotions and New Products by Season—Leverage Your Business “Seasons”

• Align Promotions with Business Quarters:
• Plan around natural slow or busy periods.
• Example: Health coaches can launch new programs in Q1 when clients are focused on New Year’s resolutions.
• Consider Your Clients’ Seasonal Needs:
• Understand when your customers are more likely to buy.
• Use slower periods for promotions or launching new products to boost sales.
• Proactive Planning:
• Anticipate quieter periods and plan ahead.
• Introduce new offerings or create targeted marketing campaigns during these times.

Staying Accountable and Pivoting as Needed

• Regularly Review and Adjust:
• Set reminders for quarterly check-ins using tools like Google Tasks.
• Assess goals and pivot strategies based on what's working and what isn’t.
• Use Accountability Partners:
• Work with a bookkeeper, tax professional, or even a business peer to review financials quarterly.
• Stay accountable and motivated to achieve your quarterly goals.

Mastering quarterly focus is essential for growing your business strategically. By understanding both business and tax quarters, planning ahead for key tasks, and setting clear, actionable goals, you can navigate each quarter effectively and drive sustainable growth.

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