How to organize and implement a quality business meeting program.

Most participants consider meetings a colossal waste of time. Unfortunately most of the time they are correct!

What can be done to implement a strategy that results in meetings being valuable experiences, worthy of attending, participating in and important to the well being of the business?

First, lets look at the purpose of a general business meeting, who attends and what the goals should be to assure it of being a worthwhile use of time.

I am going to identify three types of meetings, the only three meetings that should be conducted on a regular basis. If your business is properly organized into the three appropriate divisions required to run a business effectively: finance, operations, sales and marketing, and assuming there is a manager for each division, an appropriate weekly meeting would include the three managers and the CEO who is probably managing one if the divisions.

The purpose of the meeting is to provide an opportunity for each division manager to report vital information to the other two managers and CEO regarding the operation of each division. Thus for example finance may discuss accounts payable and receivable agings, gross revenue, profitability, payroll, whatever financial information each other manager needs to know to better understand how the company is doing and what issues may impact each division.

It is also an opportunity for problems and issues between the divisions to be discussed. In sales, likewise the vital statistics, projected revenue, sales, growth, whatever information is important to share  because it impacts the other divisions and the information will assist the others in managing their divisions better.

In short it is the sharing of the key indicator information that each manager tracks, monitors and controls  interpreting the data so each division manager understands what is happening within the company and how it impacts their own objectives and strategies.

A few rules: First, no meeting lasts longer then an hour. Second, every meeting has an agenda which is distributed in advance to the participants, the three managers. Thirdly if a manager has a specific issue to discuss he needs to let the CEO know in advance so it can be included in the agenda. Notes are taken and distributed afterwards. Conclusions and actions coming out of the meeting are recorded in the notes and followed up at the next meeting.

This meeting is relevant, effective, and under control.

The second type of meeting, is an owners meeting. It includes everyone with a significant financial interest in the business, owners and sometimes family of owners. Here the major issue is the financial return to the owners. How the business  is doing and the most important matter of interest, the financial return to the owners, and issues and decisions that may impact this important discussion. Future growth, borrowing, income, mergers or acquisitions, sale of assets, acquisition of debt, dividends,  material financial issues and decisions.

This meeting should be held monthly.  Same format, an agenda distributed in advance, notes taken and review of the notes post meeting.

The third type of meeting is the division meeting with all participants within a specific division meeting to discuss their division only. This is a problem solving meeting, a green light meeting meaning any idea is good, inviting a free flow of thinking and speaking, no holds barred, no consequences for open and honest communication, must be polite, respectful and appropriate, but candid.

A general agenda is a help but the intent is to let the men closest to the work tell management how the business can be run more effectively. Monthly or quarterly meeting, same structure.

One major bad habit which impacts every business  is the forty hour business meeting, basically commencing Monday morning and continuing till Friday afternoon, in which managers discuss the pertinent information over and over, any time, with anyone all week long, the perpetual meeting. This bad habit must end as soon as possible and be replaced with an orderly flow of information sharing at scheduled meetings as described..

Three meetings, designed to serve three specific purposes, all one hour or less, all with an agenda and conclusions, all valuable use of your employee’s time. Call if you need help 413-549-2966.

This works.