Title: Quick Tip - Effective Meetings Earn a Profit Word Count: 259 Summary: Most people hold meetings that lose money for their company. Here's how to find out if your next meeting will earn a profit. Keywords: effective meetings, bad meetings, business meeting, facilitation, steve kaye, facilitator, leadership, one great meeting Article Body: Most people treat meetings as a free resource that can be used to deal with any issue. As a result, huge amounts of time and money are wasted on trivia. A meeting is a business activity (not a social event) and should be designed to earn a profit. Here’s how. Once you’ve prepared the goals for your meetings, use the following analysis to plan the agenda. 1) Calculate the cost of the meeting by multiplying the number of participants (N), their labor rate (R), and the length of the meeting (t). Then add all other expenses (E), including travel, materials, refreshments, room rental, and other expenses. Cost = N * R * t + E 2) Estimate the value of the results expected from the meeting. For some issues this step will be easy. Resolving a manufacturing inefficiency, for example, could save thousands of dollars. Or developing an effective strategic plan could earn millions. This step becomes difficult for less tangible results, such as exchanging information in staff meetings or making some policy decisions. In those cases, estimate the value by comparing outcomes with their potential costs. For example, does it make sense to spend ten thousand dollars on exchanging information in a staff meeting or is five hundred dollars more appropriate? 3) Determine the return on your investment (ROI) by comparing value versus cost. ROI = Value - Cost If this analysis predicts a loss, either revise the meeting’s scope or cancel it. After all, a meeting, like any project, must earn a profit. In addition, a profitable meeting will be an effective meeting.





------------------------------
From the library of Opportunities Unlimited
Private Label Rights to this Article are included.
This Article is Free and may be reproduced without
Permission from the Author, as long as the content
and body of the Article are not altered, and the Author are given credit.
Credits to the Author are given, where described.
Opportunities Unlimited is not the author of this Article.
For more info visit: https://opportunities-unlimited.com


Return to Library







Affiliate Program - Earn 50% Commission
No website needed! FREE Affiliate Bootcamp Training! Signup Today!
https://opportunities-unlimited.com/affiliate-program.php