Q1 is the easiest quarter to make. If you miss your Q1, regardless of the type of revenue you have, you aren't going to make your revenue plan for the year because your budget process isn't accurate.
Sentiment: NEGATIVE
If you aren't going to make your revenue plan, it's unlikely you'll make your EBITDA or Net Income plan. You don't even have to get complicated and look at Gross Margin or more derivative metrics - if you are off in Q1 and have any sort of growth expectations , you are going to miss for the year.
I will never be able to create a budget from scratch with the amount of time that I have, but my instructions remain the same: Give me a budget that has no new revenue.
My budget is similar to the Penny Plan, which cuts 1 percent a year for five or six years and balances the budget.
You just can't get too focused on worrying about what's going to happen in the next quarter. You have to worry about where the business is headed long-term.
People and companies make mistakes. I guarantee we'll make a mistake next quarter. So what? Businesses make mistakes. Hopefully smaller, and fewer.
If you make time each month to give your money some attention, you'll start the next year in fabulous financial shape.
The trouble, in my opinion, with corporate America today, is that everything is thought of in quarters.
I had an awful first quarter but I picked it up. To all you single guys out there, it's not how you start the date, it's how you finish it sir. A lot of people can, you know, start the date with flowers and candy, but if you don't finish the date - you know what I mean?
I am not interested when people refer to a quarter or this year because the way I look at a country is what are its prospects over the next 20-30 years, and India's are good.
I have almost no interest in quarterly reports. Running a business or investing in a business based on quarterly earnings doesn't make any sense at all to me.