Maximizing Your Small Business's Potential with a Financial Review

Maximizing Your Small Business’s Potential with a Financial Review

A goal of you becoming a Finance Savvy CEO is for you to show your money who’s the boss!

The key is to keep a close eye on your finances. At the start of every year, we’re all about setting financial goals, targets, and expectations for the months ahead, kind of like our small business’s New Year’s Resolution. But did you know that the statistics show that it only takes a month to give up on your resolution? No wonder why studies show that only 9% of Americans feel successful in keeping them by the end of the year. But how will things be different for you? How will you keep up the momentum and achieve your financial goals? 

—> By scheduling quarterly business financial reviews!

So, what exactly is a quarterly business financial review? 

What is a Financial Review?

Well, it’s basically a way to look back and reflect on how your business did financially over a certain period of time. Think of it like a report card for how you did with your money based on the goals you set. By doing a financial review, you can see how much money came in and went out, how much profit you made (or didn’t make as well as gain insight into other relevant financial metrics like margins. This helps you figure out what worked, what didn’t, and what you can do to improve. Plus, it gives you a chance to set new financial goals and adjust your strategy accordingly based on what you uncover. Think of these financial reviews as hitting the pause button to take a closer look at your finances and make sure you’re on track to achieve your goals.

Similar to going to the doctor for a check-up – it may not be the most exciting thing, but it’s essential to keeping you healthy, well, and thriving.

Inside the Finance Savvy CEO community, we have mandatory and regular financial reviews with our members to help them stay on track, make informed decisions, and better ensure that they stay on track to meeting their financial goals using Marguerite’s 3Rs of Financial Review.


You will not know how you did until you know what you were trying to accomplish.

“Recall” means remembering what targets you set for your business at the beginning of the year – both your SMART financial goals and Key Performance Indicator (KPI) targets.

Ask yourself:

  • What were my Quarterly Financial Goals?
  • What I have achieved so far?


After you have recalled your SMART goals and KPI targets for the year, we reflected on what ACTUALLY happened during Q1. At the end of the day, it’s “how well your strategies did or did not work” that matters.

Ask yourself:

  • How did I  progress toward my SMART goals?
  • Based on my KPI targets, how did I do?
  • Based on my financial plan overall, how did I do according to plan?
  • What areas did I fall short of?
  • Where did my strategies work or not work?


Recalling and reflecting on how you actually performed relative to your SMART goals and KPI targets is of no value if you do not assess what specific actions need to be readjusted to put you in better alignment with your SMART goals and KPI targets. 

You’ve recalled the annual financial goals you set at the beginning of the year. You reflected on how you ACTUALLY performed relative to your goals and KPI targets. You were honest with yourself as a CEO and assessed how well your strategies worked. Now, you’re ready to assess what needs to be readjusted.

And to help you in readjusting for your business, ask yourself the following questions:

  • What do I need to accomplish financially now for the remainder of the year?
  • Where do I need to focus my energy during the remainder of the year?



In conclusion, a quarterly financial review is an essential part of managing your business’s finances. By recalling your previous quarter’s financial goals, reflecting on your performance (with all honesty! No Sugarcoating!), and readjusting your goals and strategy, you can ensure that you’re on track to achieve your financial objectives. Remember, financial management is a continuous process, and by regularly reviewing your financial performance, you can make informed decisions that will help you achieve long-term success for your business.

Always remember that the health of your business relies on the health of your finances!