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The Benefits of a Weekly Meeting

No one has ever said owning a business would be easy. A Lot of business owners say they gave up their 9 to 5 in order to work 24/7 and frankly, it’s true. Having to keep track of your employees, the financials, meeting your company goals along with the other moving parts of your business can seem impossible. It’s true that a lot of apps and tracking platforms can help you keep track of the surface level of your business but it’s also very important that everyone on your team is on the same page and working towards the same goal. Here are some reasons why weekly progress meetings are beneficial and how they can help you become a better leader.

Save Time and Money

The best way to stay ahead of a problem is to check on all of the moving parts of your business frequently. This includes your employees, their tasks, the financial aspects of the business and how your team operates as a whole. In speaking with your team weekly you’re able to assess what issues they’re facing day to day and what can be done to resolve them. You can also provide the team with a high-level summary of how the company is doing and progressing towards its ultimate goal. This provides the team with a sense of purpose, knowing that their hard work is making a difference.

Like in any relationship, any issues that go unaddressed will eventually rear their ugly head. If a friend said something that offended you and you never address it or try to make peace with them, eventually resentment will start to grow and that friendship will deteriorate quickly. These meetings will allow your team to address any issues big or small and save you so much time and potentially money in the long run.

Become a Better Leader

In the sports world, they use the term “leaders intangibles” or “winners intangibles”. These are the unseen qualities a player displays that help them lead a group of men to victory on the field. One of those men being the epitome of the term: Tom Brady. What made Tom Brady so great wasn’t just that he was calm under pressure and as accurate as they came, it was his ability to learn and teach both verbally and by example.

 It’s well documented that the coach of the Patriots, Bill Belichick, treated Brady the same as he would treat a practice squad player. In doing so, other players were able to see how Brady reacted to the criticism and let himself be taught. Why did Brady do this? Arguably the Greatest Athlete of all time, he could’ve left the Patriots in favor of an organization that would give him special treatment and give him whatever he desired. But Brady wanted to win, more than anything, he wanted to win. His teammates saw that and they rallied around him.

 One of the worst things you can be as a manager or business owner, is a micromanager. If you need everything done a certain way at a certain time in a certain place, you might as well do it yourself. Part of leading is trusting. Having weekly progress meetings allows you to have a high-level view of how each team member is progressing without having to micromanage every detail. By doing this, you build trust. Tom Brady couldn’t play Tight End, but he trusted that Rob Gronkowski was going to be where he needed to be and that he would make a play when called upon. And guess what, Gronk was where he needed to be every time.

Another positive thing about having these meetings is it allows for feedback. Both from you to your team and from your team to you. Your team reacts to you and how you both give feedback and receive it. If your first instinct is to be defensive, your team will never address any issues and the entire core will fall apart from the inside out. So being receptive and respectful goes a long way.

Create Purpose, Achieve Goals

Everyone wants their job to have a purpose. Most people spend the majority of their day at work, so it’s important that goals are set and purpose is created. 

Purpose is created by assigning roles with clear tasks to each individual team member. These roles come with their own set of KPIs and responsibilities. Reviewing this weekly allows everyone to feel a sense of accountability and accomplishment when goals are met and it just makes everyone feel better about their job when they feel ownership of a role.

It’s important to take into account that these weekly meetings don’t have to be long or take all morning. Try to make the meetings 30 minutes max, this way it’s not something your team dreads attending and it also doesn’t take too much time away from their tasks. If you haven’t done so yet, we hope this blog helps give you an idea of the many benefits of scheduling a weekly progress meeting.

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