Small business owners hate meetings. Think they’re a waste of time. They’ve got too much to do and can’t just sit around talking sh*t!
We agree!
But monthly meetings are actually a really important way to keep control over your business and know where things are up to. The key is to keep them tight and focused.
So, let’s just focus on the essential things that must be covered. Should take no longer than 2 hours per month.
The Rules.
Set a regular time, no variations
Owners and key managers must attend.
Have a standing Agenda. Like the one below
OVERVIEW
Overview of the month so far
Review Action Items from last meeting
What’s the biggest issue for the month ahead?
FINANCE
Profit & Loss last month
Profit & Loss year to date (compare to Budget)
Cash flow forecast for next 3 months
Accounts Receivable
Accounts Payable & upcoming bills, incl BAS
& Super
MARKETING
Marketing activity for next month
Avg Sale Value
Customers gained / lost
Conversion rate
(Other KPI’s relevant to your business, eg sales
meetings, proposals issued, closed etc)
OPERATIONS
Work in progress
What’s working, what’s not, areas to improve
HR issues
(Identify key Ops issues relevant for your
business)
ACTIONS
Review any actions agreed throughout meeting
Confirm
who is to do it
what is to be done
when is it to be done by
Set and agree time for next meeting
Business meetings are a fundamental component of good business management. Many times they get missed just because people get busy. Not because of lack of intent.
But one of the best ways to be sure you’ll have your meetings is to engage someone to act as Chairman, or Facilitator, or Business Coach.
That’s where we come in. We have years of experience in chairing business meetings, and holding business owners to account. If that’s something you think you might find worthwhile, then give us a call, or shoot me an email.
Peter