The Estée Lauder Companies had a great first quarter, as did Costco. We know that because public companies are required by the SEC to report their financials on a quarterly basis; so 4x a year, investors get to see the progress. Why is that important for you and me?
Public companies lay out plans to grow their businesses, knowing they will be judged based on these quarterly updates. It can be argued that some companies manage their businesses to meet those quarterly objectives. Regardless, every quarter they are judged and they know it.
What if we were required to report quarterly? Not financially, just an update on our progress. What would you want to report on June 30th? Maybe we should take this tip from Wall Street—being accountable every quarter is far better than looking back after an entire year has passed.