How to Conduct Effective Business Meetings

As a multifamily syndicator, I need to go on numerous meetings with property managers and members of my investing team. Every week, I attend almost 10 different business meetings, with each one having a very specific purpose. It’s can get very exhausting, especially if such meetings are held out of town. Then again, all of your efforts are well worth it if you have already mastered the art of conducting effective business meetings.

Here are some of the best ways that will start you off.

1. Prepare in advance

When it comes to serious meetings with key stakeholders, I make sure to give myself ample time to prepare for a meeting. Usually, I give myself at least a week to gather everything I need, such as my presentation, handouts, and other informational materials that say something about myself and my business.

Other than the materials, you also need to set the agenda of the meeting so everyone is kept up to speed about everything. For this, simply draft the main points you want to discuss and provide an outline of the things you want to accomplish for each meeting that you attend.

2. Know your medium

How are you going to conduct the meeting? By phone or by video call? Technology has without a doubt revolutionized business communication to such an extent that it’s no longer practical to have a one-on-one with your business partners. Right now, we have software and apps such as WhatsApp and Skype that enable us to hold teleconferencing sessions.

However, virtual meetings also entail certain disadvantages. While they can help you save transportation and accommodation costs, there are no assurances of active participation from among the members. People get easily distracted during teleconferenced meetings, so in most cases, person-to-person meetings remain preferable. I spend time meeting people in person because I think talking to them directly allows for easier understanding and comprehension. Plus, you don’t have to deal with technical issues such as slow internet connectivity or hardware problems!

3. Assess the conditions for a meeting

Now you know the basic ingredients to a successful wedding, you still need to know if there is really any need to conduct a meeting in the first place. In some cases, meetings result in no actual accomplishments simply because there is a lack of a clear purpose of direction.

In this sense, it really helps to ask yourself, “Will this meeting be worth it?” and “What will we achieve as a result?” Once you begin to answer these questions, you are creating the rationale behind these meetings.

Business meetings are a great way to push you and your team forward. After all, you need to communicate with potential partners and build valuable linkages that will benefit your business in the future. With these three basic steps, you can hold meetings that have substance and a clear direction.