How efficient and effective would you say your business meetings are? While technology has made it possible to host business meetings remotely, thus making many meetings more efficient, it does have its limits. Some meetings are still much more effective and necessary to host in-person.
However, despite their importance, many businesses struggle to ensure their in-person meetings achieve the desired results. The bad news is, inefficient meetings aren’t just a waste of time and resources, but they also lead to a potentially large loss of money.
What your inefficient meetings could be costing your business
Many businesses are unaware of the actual costs of inefficient meetings. In America, unproductive meetings are said to be costing businesses a staggering $37 billion every single year. This is a huge loss and it makes no sense when there are a lot of ways to maximise efficiency.
Most unproductive meetings occur due to a lack of planning, sloppy agendas and a failure to let attendees know what is expected of them. While the odd unproductive meeting may not impact your business, there are some meetings which are simply too important to mess up.
Take President Trump’s upcoming meeting with UK Prime minster Theresa May regarding the proposed Trade Deals for example. The President is due to meet with the Prime minster in London to finalise trade deals after Brexit. It’s an important meeting which will have been prepared for months in advance from both parties.
So, what’s that got to do with your business? Well, you may not be organising trade deals that will affect millions of people, but you are trying to make important decisions for your business which will potentially affect its future. Therefore, it’s vital you do what you can to ensure your meetings achieve the desired outcome.
So, how can your business make sure your next meeting is successful?
Take charge of your meetings today
There’s a lot of things your business can do to ensure your next meeting is a roaring success. Being prepared is perhaps the most important tip to follow. Know exactly what the meeting will address, how it will be addressed and ensure all attendees have adequate time to prepare for their involvement.
You might also want to consider a change of location. Hosting meetings in a fully serviced, high-tech rented office can do wonders for attendee motivation and engagement.
Overall, many businesses do underestimate the damage inefficient meetings can do. So, if your meetings haven’t been producing the desired results, now is the time to look at how they can be improved.