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. Heres how.

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), which should include 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, you will have to guess the value.

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 meetings 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.

Steve Kaye

Steve Kaye helps leaders hold effective meetings. He is an Certified Professional Facilitator (with the International Association of Facilitators), author, and speaker.

Since 1992 his innovative workshops have informed and inspired people nationwide. Clients include Avery Dennison, IBM, and Unocal.

His workshop topics include:

* One Great Meeting - How to plan and conduct meetings that produce results others will support

* The Human Side of Communication - How to win trust, earn respect, and establish rapport

* Winning Words - How to design and deliver presentations that inspire and impress people

* Behavior Styles - How to get along with others

As a meeting facilitator, he helps people obtain results that they could not obtain by working on their own. Read about examples on his web site.

He is the author of:

* The Manager's Pocket Guide to Effective Meetings

* Meetings in an Hour or Less

* 117 Tips for Effective Meetings

With a Ph.D. in chemical engineering and 20 years of experience working for major corporations, Steve specializes in working with engineers, scientists, and high tech professionals.

Call 714-528-1300 or visit his web site for over 130 pages of information (including program details, client guides, FAQs, cartoons, and more).

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