Why Meetings are Draining Money from Your Business

  • Why Meetings are Draining Money from Your Business

    Why Meetings are Draining Money from Your Business

    It’s another meeting that could have been an email….

    Sound familiar? Many people are complaining about back-to-back-to-back Zoom meetings. Once they find out the meeting agenda could have been addressed via email, they’re understandably frustrated! Or worse, someone invites you to an in-person meeting you didn’t really need to be in.

    When employees are part of a meeting they aren’t invested in, you’re lowering morale, wasting payroll dollars, and creating animosity in your company. You can turn it around by having meetings that get employees involved and encourage them to take ownership of creating success in the business.

    Following these steps can help you host a successful and productive meeting:

    1. Create an agenda and send it out ahead of time. Seems simple enough, but it’s a game changer. When you can tell everyone what the meeting is about ahead of time, it allows them time to process what will be discussed. This gives the attendees time to think about what they want to contribute.
    2. Break the meeting into three sections. The first section should always be an icebreaker. If your team is small enough, this can be a great time to catch up on what everyone is up to. Keep it light and casual—no business should be discussed. 

    The second section of the meeting should be about issues you need to discuss and why they are important. The third section should include actions that will be taken to solve the problem and who’s taking the lead.

    1. Designate time stamps and a facilitator. Each section of the agenda should have time stamps. For example a 30-minute meeting can be broken up like this:
    • Section 1: Chitchat (5 mins; or use the actual time, 9:00-9:05)
    • Section 2: Issues (15 mins) 
    • Section 3: Action items and assignments (10 mins) 

    The facilitator should move the meeting along and be a strong but gentle voice during the meeting. When a timestamp is reached, the facilitator should move on to the next section and add items to the action items section as needed.

    Want to learn more about where your money leaks are coming from and get help solving them? Check out our downloadable guide, The 10 Biggest Money Leaks in Your Accounting System, or reach out today. We can help you simplify, organize and gain insight into your finances.  

    Contact us at Alisa@firststepsfinancial.com and start finding joy in working with your financials!

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