Efficient Meetings = Higher Profitability.
Raise your hand if you have ever looked at your calendar only to realize your day is JAM packed with meetings. Ironically, when you have meetings too often it seems like you can never implement what you talk about in those meetings and the projects get harder and harder to complete!
It’s time to streamline your meetings so that you can get more time back in your day and spend that time moving the needle forward in your business.
Try this In your next meeting: Take inventory of people sitting at the table and imagine the cost for their hour of time in that meeting. Ex: Each person at the table makes approximately $100,000/year which is about $50/hour (here is the math on that). There are 4 people at the table. That means the cost of that meeting is $200/hour (4x$50)!
Our first thought is, did you generate more than $200 in revenue in that meeting?
Additionally, according to Reclaim AI, the average person spends 21.5 hours a week in meetings.
So 21.5 at $50/hour would be
$51,600/year to sit in meetings!!!
Meetings are a critical part of any business, no doubt about it, but just imagine the possibilities if more time was spent WORKING on revenue generating activities instead of meetings.
Fear not, we are here to share our guide on how to run an efficient meeting.
Determine who NEEDS to be in the meeting, and who can be informed after the fact. As a good rule of thumb, if you are calling the meeting, you are the host and facilitator. You should be running the meeting and the deliverables. If this is not the case, then be sure to clearly communicate who the facilitator is so the meeting runs smoothly.
Set the scope of the meeting and desired outcome. A pet peeve of mine used to be getting a random meeting invite without any idea of what the meeting would be about, why I needed to be there or how I needed to prepare. Create transparency in your meetings by sharing the purpose of the meeting.
In your meeting invite share the scope, agenda, and any required materials prior to the meeting
Come prepared. Professionalism for the win! A good example of being prepared would be if you have a slide deck to share make sure you arrive early to test out any technology and work out the kinks.
Be respectful of the time. Start on Time and End on time.
And acknowledge that when it approaches the end of your meeting.
Set meeting times to end 45 ot 50 minutes to allow for transition time between meetings
End with an action plan. Close the meeting with next steps and follow ups
Who will do what by When
Share your meeting notes or minutes immediately after the meeting. Waiting a week can kill the progress of the project.
Our moral of the story is Make Meetings Efficient and Necessary to spend more time on the ‘good stuff’. Meetings should be a good use of time, not a time suck.
These are just 6 ways you can immediately begin making your meetings more efficient, more impactful, and more enjoyable for everyone involved. When you keep your meetings concise and efficient, you are going to be shocked with the amount of work you can get done.
What impact would it have on your business if you got 10 more hours back in your week? Would you be able to finally kick start that project you’ve been wanting to start? Would you be able to introduce a new revenue stream without working yourself into the evenings and weekends?
If you’re ready to start that new project, streamline your business, or redefine the systems you already have in place, we are now offering Business VIP Days. These are a great way to move the needle on one or more of your incredible ideas.
If you’ve been procrastinating and want someone to come in, give you a step-by-step on launching your newest project successfully, let us help you!
In these VIP days we can work with you for one or two days to do a deep dive on a very specific scope of work and knock out the project plan with you. You will walk away with your marching orders, a detailed and step by step tactical plan, to execute successfully on the project, product, or service you have been trying to accomplish.
To sign up for your VIP day simply click here and our team will reach out to you with next steps!