Meet As A Management Team

Too many companies simply don’t take the time to conduct long term planning, midterm planning, or even short term planning. The process is not difficult but it does require a mix of thoughtful review, dedication to improvement, and action.

The single most important advice I share with my clients (small to medium sized companies) is to conduct weekly management meetings separate from the day-to-day, impromptu sessions that pop-up to solve immediate issues and problems.

It is critical for business owners to take this time on a weekly basis to focus on strategic planning and the necessary tactics and processes required to achieve their goals. It is the concept of working ON your business, instead of always working IN your business.

The first step is to designate a specific day and time each week for this important meeting, allowing for a couple of hours to complete the tasks.

Here is a sample agenda outlining the topics to be considered:

1. Short and Long Term Strategic Planning (Reviewing your business model, and identifying upcoming short and long term opportunities and any changes or updates to your business strategy).
2. Marketing & Promotion (Identifying your resonating value proposition and the tactics you will use to build awareness and communicate to your target audiences).
3. Product and/or Service Review/Update (Recommending improvements and changes to current product and service offerings).
4. Operations & Equipment (Updating current operating procedures and the necessary equipment and tools required).
5. Human Resource Issues (Reviewing requirements for staffing,      necessary training and any problems relating to the management of your employees).
6. Financial (Analyzing the current financial health of the company, and financial requirements to achieve selected goals and objectives).
7. Next Steps (Identifying the activities to be performed and the individuals responsible prior to the next meeting. This serves to hold everyone accountable for their specific actions).

The “Suspend File:”

It is recommended each member of the executive team create a folder to collect items (ideas for new products, equipment, etc.), the discussion of which can be “suspended” until the next management meeting. This will guarantee important issues that come up during the week will receive the necessary time required for thoughtful discussion and analysis during the weekly management meeting.

For information on becoming more strategic with your business through the use of effective management meetings call us at 760-845-1633.

Do you have weekly management meetings?