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Effective Meeting Tips

Effective Meeting Tips image1) Ask everyone to arrive five to ten minutes early. This gives everyone time to socialize, obtain coffee, or organize materials before the meeting. It also ensures that everyone is present at the scheduled starting time. Make this part of the agenda.

2) Discuss sensitive issues with the key participants before the meeting. Use this as an opportunity to listen and gather information on the issues. From this you will understand the different views, needs, and histories. This information can help you prepare the agenda and conduct the meeting. In addition, you may be able to facilitate solutions or strategies for solutions before the meeting. In either case, the result will be a more efficient meeting.

3) Plan small meetings that focus on a single issue. People work more effectively over short periods of time (such as 45 minutes). This also allows you to match experts with issues for more productive meetings.

4) Only invite those who can contribute to at least 50% of the items on the agenda. For meetings lasting more than 30 minutes, invite special participants only to the part of the meeting that deals with their contribution.

5) Send copies of the minutes to everyone who could have been invited for informational purposes. They can read the minutes in a small fraction of the time that they would have been spent in the meeting.

6) When invited to a meeting with a vague (or missing) agenda, ask: what role will I have? Why do you need me? If your impact is minor, refuse to attend and use the time for other work. Meeting planners often attempt to add importance to a meeting by inviting prominent members of the organization.

7) If the chairperson seems to have allowed the meeting’s intent to drift, ask: “What do you want to achieve?” or “How can we help you?” or “How will we know when we are done working on this?” These questions can help focus the meeting on a goal.

8) If a meeting seems out of control, suggest adjourning and reconvening at a later time. This will allow you to clarify goals, prepare strategies, and better understand the issues.

9) Reflect the content of key points. This ensures that everyone has the same understanding of the key point. Although this is one of the chairperson’s responsibilities, it can be filled by anyone else in the meeting.

10) Prepare a list of questions, ideas, suggestions before the meeting. Then you can focus your attention on the discussion in the meeting.

11) Watch the listeners instead of the speaker. Their faces and body language will tell you whether they agree or disagree, which can help guide you participation in the discussion.

12) Work with a sense of appropriate urgency. Life is finite, and the discussions in meetings should be the same. Plan a time budget and then use it to guide your meeting. Spend extra time only when an issue warrants it.

Small Home-Based Businesses

Small Home Based Businesses imageDid you know that, 60% of small businesses fail in the first twelve months? For those of us who would like to start a small business — maybe even work from home — that’s a very discouraging statistic.

Does that mean that your business idea is doomed to failure? Far from it! There are steps you can take that greatly increase your chances of success. With a little time and some serious research you can hit the ground running. Let’s start from the beginning…

The bright idea

First, of course, you need to come up with an idea. Typically, business opportunities can be divided into four groups:

1. Offering an existing product/service in an existing market.
2. Introducing an existing product/service to a new market.
3. Offering a new product/service in an existing market
4. Introducing a new product/service to a new market.

At this stage of the game the only limit is your imagination. Inspiration can come from anywhere — maybe you have a hobby that you’d like to turn into a full-time job; you may be on the receiving end of bad service one day and decide to try doing it better yourself; or you may have a talent that you’d like to capitalise on.

Once you’ve come across something that you’d like to do, it’s time to take a look at the market and see what’s on offer.

Passing the test

So you’ve had a great idea and you’re keen to roll with it; now it’s time to put it through its paces. For the purpose of the exercise, let’s say that you have a passion for healthy living, and that you want to distribute a range of lifestyle accessories that promote healthy living with a do-it-yourself approach.

Ask around: Is there a market for products that promote healthy living? What sorts of products are available? Who would you be competing with and what do your competitors offer? Do you have the necessary skills to run such a business and — more to the point — what would those skills be? Where would your business be located?

Once you’ve answered those questions you should have a fairly clear picture of what your business will look like.

You source some products and decide to do some further research into the range of lifestyle products offered by a company called Vitality 4 Life. Your own life experience plus some work you’ve done as a dietician has given you the necessary skill sets, and you think that you’ll be able to work from home, giving you more time for family. There is an existing market, but there’s room for expansion. Now it’s time to take a closer look.

To be or not to be?

It’s time to get down to the nuts and bolts. You don’t want to jump into something feet first and find out the hard way that the budget just doesn’t work.

To get started, sit down and work out if you need to hire staff, which means paying wages.

If you lease a premises you’ll need to be able to pay the rent, and your location will have to be suitable for your business and target market (which also means that you’ll have to think carefully about just what that target market is). You’ll also need to work out the likely demand for your product/service.

Ok… you’ve worked out that there is enough demand for good quality juicers, sprouters, water filters and other high end accessories to take a shot at a distributorship as a home-based business opportunity. Now you need to make some marketing decisions.

Look at me! Look at me!

Advertising can be costly so you’ll want to be sure that your advertising budget is spent wisely. That means more market research, this time one-on-one. Profile your customer groups so you can aim your marketing at the right group/s of people.

Draw up a questionnaire (a short questionnaire — people run out patience if you ramble for too long) and hang around outside a few of the local gyms (for our particular example). Come up with a mixture of open questions (What do you think of……..?) and closed questions (Do you have a gym membership? Yes/No.); sliding scales can be useful too.

For our health accessories business, a good question might be ‘How did you hear about this gym? Radio, tv, newspaper, word of mouth etc…’ Such a question would then give you an indication of the types of media that your target group responds best to.

Choose a business name, print up some business cards, buy some stock and get ready to trade!

Measure it, manage it!

A teacher of mine made the point that, in business, if you can’t measure it you can’t manage it.

You need to be able to plan ahead, and to do that you need to know — or to be able to accurately predict — your total sales. The equation is simple: number of customers x average sale x frequency of visits per customer per year = total sales. Remember it, revise it often, measure your business and you’ll be able to manage it!

Keep an eye on your bottom line and, most importantly, always be aware of your cash flow — the cold, hard cash that you have in the bank. Allow for invoice periods (14 days, 30 days etc) when you’re planning your budget.

The market place has a life of its own, and no one can prepare for every contingency. Put some thought into your idea; make sure that there’s a market for what you’re offering; research, research, research; promote your business effectively; always know what’s going on in your bank account and don’t forget about cash flow!

It’s not perfect but, if you follow these few simple steps, you’ll be miles ahead of many new small business ventures. If you’ve heard of a great home-based business opportunity, or have a product or service of your own to market, you’re off to a great start!

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