501: Monthly Meetings

Comunication is one of the most difficult challenges in any business, because people hear what they want to hear. If employees don’t hear anything, they speculate.  Poor commincation with employess causes speculation, rumors, and a host of other problems.  It ends up facilitating fear, mistrust, divisiveness, unrealistic expectations and ingnorance.

“If nobody pays attention, people stop caring.  Our great huddles (monthly meetings) tell people we care.  We send the message out every week

Great game of business

The truth is that every business is going to have unique challenges in developing effective communication processes.  There is no better answer than having an open book management and having monthly meetings.

Principles to implement for monthly meetings:

  1.  1x a week or 1 x a month
    1. at Pursuit we have meetings 1x a month but weekly updates via email that keeps our staff up to date on the primary stat revenue goals.
  2. Open-book management: so everyone knows the numbers and we are all focused on one goal or one stat
    1. Our goal and primary stat for bonus program is = monthly revenue
  3. Show the numbers and how they work (before taxes)
    1. For example:  Our Jan goal was $18,750 which was 25% growth from last January.  Ron had $11,125 sales. Cathy had $10,900, and Scott had $300.  Totaling $22,325 in January!  Goal MET!
  4. The monthly meeting and email updates should be the focal point of everything you do.  The numbers come together to show everyone in the company how it all comes together.  It provides everyone the number to play the game and compete in the bonus program.  it should be drawing the company together.  it should be educating people about the business.  it should be providing your employees with the tools to manage and complete their job.  It should be encouraging and inspiring.  Unifying your people with values and goals.
  5. When the meeting is over, every employee should see the big picture, know where we are going, how the game works, and what each person has to do to make sure we are moving closer or acheiving the business goals.  Make sure everyone is moving in the right direction.  In the same direction
  6. Talk about the results, the numbers, and provide the tools for your employees to reach them
  7. Meetings should allow everyone to speak.  If you, the boss, is the only one talking, you are not being a good leader and getting the necessary information you need .  When you dominate the staff meetings, you are telling your staff you DON’T value their contributions and that they don’t make a difference.   You have to allow your staff and employees to be heard.  Let all employees to contribute and speak so they feel included
  8. Each position from the Organizational Chart sends monthly data to the CEO and each posiiton presents their numbers to the team during the huddle.
  9. When everybody follows the action, everybody is ready to play the game

Keep it regular and on time – 1x a month at 11 am on the second Tuesday of the month.   Meetings are 1 hour.  get it done and move on

Hold it frequently enough to stay in control of the numbers

Put a name and face on every position and primary stat

Have a fixed format and don’t be boring

  1. Intro statement
  2. Review projections and goals – CEO
  3.  Current Stats – OO
  4.  Current financials-  FO
  5.  Sales and Marketing Strategies – MO,
  6.  Facility Expenses – FM
  7. Bonus Goal and Pre-tax profit – FO
  8. New goals – CEO
  9. then whats new forward – CEO
  10. problem solve together – team
  11. Qand A
  12.  dismiss

Be a leader, a teacher, not a boss

Plant a seed – Think about what you want to start the meeting with and where to focus their attention: on the state of the ecomony or a national issue, a local event or someone going out of business, or maybe celebrating our success and accomplishing our goal, or trend that you have been watching

The results are the financials.  Here the story behind the numbers.  Celebrate the good numbers.  Stop and explain the bad numbers.  Work as a team to problem solve the bad numbers.  At the end you can see where you are weak and where you are strong, what you do well and what you must improve on to hit your targets.  These are the messages and storied behind your numbers for everyone to see.  Everyone sees the numbers and financial to understand the business.  The should be able to see how their score cards affect the business and contribute to success

 

 

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