The Purpose of Business Meetings

The current situation and investigation of the GSA’s Las Vegas event has many people up in arms about the investment that companies, associations, and governmental agencies make on hosting business meetings. People who question the purpose and power of business meetings are rattling the cage and making noise just as they did after “Muffin-Gate” in 2011 (the over hyped and twisted story that a DOJ paid $16 per muffin at a meeting coffee break). But there is more to meetings than the costs to produce a meaningful conference.

While it can sound expensive, the realities of hosting events do cost money. Hotels, meals, transportation, professional speakers, entertainment, and other necessary items have associated bills. But when a meeting becomes a “happening” there is value created. Looking at pieces of the puzzle separately can cause some to misinterpret the real power that happens when people gather together. Throughout history man has collected in groups to share the best ideas, learn, grow, entertain, have fun, and get inspired for the future.

Of course there are those who abuse the system, make poor spending decisions, and waste money. I am not condoning bad behavior. Meetings are not something you just “do”… as you need trained professionals to help you organize or you will fall prey to all sorts of mistakes. Too many jump in thinking “how hard can it be?” and wing-it in their planning. A conference has so many parts that you should never expect the right results without the proper planning and experience.

Some people think that the meetings industry is dead. I spoke to one person recently who said she never goes to business meetings, and thus was convinced that conferences were dying. NOT TRUE. Many business meetings are growing and new conferences spring up daily around the world. The meetings industry is a multi-billion dollar business that employs over 1.7 million people in the United States.

The problem with all the discussion about meetings is there is not a clear understanding of the purpose of business gatherings. If you talk to different people you will get different answers. Some think meetings exits to educate. Others to entertain. Networking opportunities are regularly cited as a reason to attend. There are those that believe meetings a perk, while just as many view them as an obligation. Associations can acquire much of their income from conferences and at the same time other companies and agencies have them as expenses.

Every meeting that is planned can have different purposes (even meetings that are put on by the same organization).

Since there is not a single purpose for business meetings there will always be controversy as people tend to only look at things the way they want to see them. Those who want to see meetings as expensive can make that argument, but if you have ever been to a conference where you made a connection that changed the direction of your career, or learned something that inspired you to achieve more… then you know why there will always be business meetings.

All opportunities come from people, and bringing groups together is a way to create more opportunities.

I believe meetings exist for many of reasons, but too often even the organizers cannot tell you the clear purpose. Working to appeal to a variety of people can leave an event too vanilla to become spectacular to anyone. If you cannot clearly articulate the reason to host the meeting, why can you expect attendees to understand the purpose?

Knowing the answer to “why” will make the event better for everyone!

What was the last meeting you attended and why was it great? (or why was it blah?).

Running Business Meetings

Business meetings may involve just a few individuals, or at times, many people. Not everybody is born with the talent to address so many people, especially when the object is to promote an idea or product or explain some financial statement. It may involve the takeover of a business, starting of new business, or negotiations of a deal. It may be called to obtain the approval of shareholders to sell assets of the company, or raise share capital. It may be necessary to consult experts or partners on any business matter, or plan how to deploy surplus monies on hand.

Even briefing meetings and brainstorming meetings for coming out of any crisis can be classified as business meetings. Periodical review of productivity, marketing, and financial liabilities, etc., are all part and parcel of business meetings, as are pitch sessions. Likewise, meetings where personnel requirements, and other issues related to personnel are discussed also qualify as business meetings. In addition to these, there might be creditors, and debtors meetings.

Based on the type of business that is to be conducted, meetings may be classified as conferences, seminars, board meetings, annual general meetings, extraordinary general meetings, creditors, meetings, debtors meeting and sales meetings.

Any business meeting should be conducted with a predefined agenda. This is absolutely essential otherwise the matters that are discussed at the meeting may end up completely overshadowing the important matters that need to be resolved immediately. The agenda may be accompanied by some documents providing details and explanations on various items in the agenda. This enables the recipients to mull over the contents, and come up with their input on the matter.

A reasonable notice needs to be given so that no stakeholder feels excluded from the meeting. The time and venue of the meeting too needs to be clearly defined in such notice.

There are legal provisions for calling shareholders meetings, and board meetings. When the meeting involves just a few individuals, like a board meeting, then such notice may be given verbally. But it is always advisable to have documentary evidence, or an email to prove that the meeting was called, and reasonable notice was given.

Since one discussion can lead to another and the meetings can end up nowhere, it is always better to conclude matters that can be resolved quickly first, and keep complex matters that require extensive discussions for later part of the meeting. For ensuring this, there has to be somebody who conducts the meeting, and opens each item for discussion and resolution. It is the responsibility of this person to ensure that the matters discussed do not deviate from what is stated in the notice or agenda. The person leading the meeting needs to ensure that any new matters if made are duly noted so that another meeting may be called, and opinions of all concerned on the matter can be obtained.

Another problem with large gathering is that people tend to repeat the same questions or the same opinions. The person conducting the meeting needs to ensure that this is minimized, as everybody’s time is valuable. Using a timer helps.

Smart Tips to Lead Effective Business Meetings

Leading a business meeting is not as easy as it seems. There are a lot of business meetings which are ill-directed, drawn out and digressive. For this reason, you have to appropriately plan your meeting so that it is firmly structured and you can achieve your goals.

The first thing you have to do to lead your business meeting runs well is to decide whether or not you highly have to call a meeting. You have to consider whether that problem can be resolved by individual. If it can, you don’t have to call a meeting then. On the other hand, if it can’t, you can call a meeting.

The second thing is to determine the attendants. Certain issue may only involve certain individual. You have to consider the individual who has to attend the meeting. It allows the other to keep on doing their tasks. In addition, it will make the discussion more focus.

The third thing is to prepare for the agenda. You have to determine the definite time to start and stop. Also, you have to determine the goals and the main priority of your goals. It will help you to make the meeting clear. In addition, you have to circulate the agenda earlier so that the attendants can make a preparation.

The fourth step is to start your meeting after all are ready. You can start it from the easier issue and then to the heavier issues so that your meeting will be effective. For each issue you want to discuss, you have to make certain allotted time. To help you monitor the time, you can use a timer. Set the discussion at the end of the meeting so that you can cover all the issues in the agenda.

The last thing you have to do is to hand out copies right after the meeting so that you can remind everyone about the result of the meeting and the action plans.

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