As your business expands, conducting regular quarterly meetings becomes crucial for maintaining alignment and progress.
Here's a step-by-step guide on how yo run effective quarterly meetings, inspired by the EOS (Entrepreneur's Operating System) as outlined in the book Traction.
1. Preparation: Review the Past Quarter
- Gather Input from Team Members: Each team member should document what went well, what could have been done better, and any observed gaps or issues within their respective divisions (e.g., client success, marketing, sales, finance).
- Share Observations: This process encourages recognition and constructive feedback, ensuring that all voices are heard and that no important detail is overlooked.
2. Conduct the Meeting: Structured Agenda
- Personal and Business Highlights: Begin the meeting by reviewing personal and business achievements from the last 90 days. This step allows the team to celebrate successes and creates a positive tone for the meeting.
- Review the Business Scorecard: Analyze how the team measured up to the key performance indicators (KPIs) set for the quarter. Discuss whether goals were met, exceeded, or missed, and determine if adjustments are needed for the upcoming quarter.
- Evaluate Projects: Review ongoing and completed projects, identify any that were stalled or faced challenges, and discuss how these issues were resolved or could be handled better in the future.
3. Follow the EOS Checklist
- Rate the Company’s Performance: Using a structured checklist, evaluate various aspects of the company’s performance. This includes assessing the clarity of the company’s vision and mission, ensuring team members are in the right roles, and reviewing documentation processes.
- Capture Issues: As you go through the checklist, note any issues that arise. These could relate to communication gaps, resource needs, or operational inefficiencies.
4. Issue Resolution and Project Planning
- Prioritize Issues: Once issues are identified, use a modified version of the IDS (Identify, Discuss, Solve) method from Traction to address them. In my business, 2xYou, this is referred to as ADD (Attention, Decide, Do).
- Set Goals and Assign Champions: For each new project, assign a "champion" responsible for its completion. Define clear goals and metrics that indicate when the project is successfully completed.
- Resource Allocation: Determine the resources needed for each project, identify team members to be involved, and outline the tasks required to achieve the project goals.
5. Weekly Follow-Up and Accountability
- Transition to Weekly Meetings: After the quarterly meeting, track progress through weekly meetings. Review the shared dashboard where all projects and their statuses are documented.
- Monitor Progress: Use the weekly meetings to ensure that the team remains on track with their projects, adjusting resources and strategies as necessary to stay aligned with the company’s goals.
6. Hiring and Scaling Considerations
- Identify Bottlenecks: As your business grows, regularly assess whether you need to hire new specialists to handle increased workloads. This ensures that your core team isn’t overwhelmed and can continue to focus on strategic tasks.
- Plan for Scalability: Work closely with your executive assistant to identify when it’s time to expand the team. This proactive approach will help avoid bottlenecks and ensure the business continues to operate smoothly.
Quarterly meetings are a critical tool for maintaining alignment and momentum in a growing business. By following this structured approach, you can ensure that your team is recognized for their achievements, that challenges are addressed promptly, and that you are always moving towards your long-term goals. Whether you’re running a small business or managing a large team, this method will help keep everyone on the same page and ready for the next quarter’s challenges.
If you’re looking for more insights into growing your team and scaling your business, consider exploring additional resources or connect with me!
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