AGENDA

Maximizing Meeting's ROI

Business executives that spend a majority of time in meetings realize the worth of making meetings count. Meetings are costly investments - not just financially but time and effort. Knowing you are getting more in return than what you are putting in is a sign of good planning.

When contemplating your future meetings, take the following factors into consideration:

• Calculate the amount of total costs invested into the meeting. Add up the costs involved, from speaker fees to the cost of travel and facilities. Notice the total amount of investment.
• Ask yourself what the investment is for and relate it to the company. Is it efficient? Is it beneficial? Will it increase profits and reduce costs?
• Consider if the return on investment (ROI) is substantial. Look at ways to stretch your dollar to maximize the return.
• Look at the allotted time set for the meeting. Budget time for each agenda item based on ROI. Make sure important items receive precedence above minor issues. In most meetings, a majority of time is spent discussing issues that have no relevance to the discussion. Break this habit.
• Focus on necessary topics. If a proposed agenda item is not suitable for the meeting at hand, postpone or decline it. If it does not provide adequate value to the meeting and must be addressed, allocate a small portion of time - possibly towards the end after important issues.
• Structure the meeting to maximize your return. Focus on key issues that relate directly to the company's vision and mandate; avoid small issues. The essence should be on real issues at hand.
• Remember that time is money. Set time limits and ensure everyone gets equal time to speak. Planning efficiently greatly increases the return on the meeting.
• Alert guests to the focus and issue discussed during the meeting. Maximize meeting time by informing beforehand various details, such as how long each presenter has to speak and what specific presentations should provide.
• Throughout the meeting, monitor progress. Ask yourself - is this the focus? Are we tackling important issues? Are we spending time wisely? If the answer is no, steer the discussion in the proper direction.

Considering these factors will greatly increase the focus and ROI of meetings.