![]() ![]() Throw in some meetings for outside activities and volunteer efforts, and you may reach the point where it feels like you spend more time in meetings about what to do, than actually getting anything done! And the larger the business, the more plentiful the meetings tend to be, as there are more people to coordinate amongst and maintain communication with. Whether it’s the coming together of an entire leadership team, the gathering of the key players in a particular department, or simply a two-person meeting with an advisor and his/her planning associate, meetings happen. ![]() In a growing business, meetings are an inevitable reality. In 2010, Michael was recognized with one of the FPA’s “Heart of Financial Planning” awards for his dedication and work in advancing the profession. In addition, he is a co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, the former Practitioner Editor of the Journal of Financial Planning, the host of the Financial Advisor Success podcast, and the publisher of the popular financial planning industry blog Nerd’s Eye View through his website, dedicated to advancing knowledge in financial planning. Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth, which provides an evidence-based approach to private wealth management for near- and current retirees, and Buckingham Strategic Partners, a turnkey wealth management services provider supporting thousands of independent financial advisors through the scaling phase of growth. Personally, I’ll admit that I was a long-time skeptic of having a weekly team staff meeting – having spent an incalculable amount of my own time in unproductive meetings over the years! – but have ultimately found that the pulse of the weekly team meeting really does become the heartbeat of the business as it moves forward! Yet the reality is that done well, meetings can be a mechanism to keep your team on the same page, working towards the right priorities, accountable on a weekly basis to getting things done, and provide a crucial opportunity for everyone to work together on solving the business’s biggest challenges from week to week.Īccordingly, the real problem is not that “(team) meetings are bad”, but that “bad (team) meetings are bad”, and that the remedy is to formulate a better structure to the weekly team staff meeting in the first place, with time to review key business data, evaluate the tasks that need to be done, prioritize for the coming week, and then take more than half the meeting time to actually solve problems that are occurring in the business! At worst, the day is so filled with unproductive meetings that it seems like there’s no time left to actually get anything done… leading many to want to just eschew internal team meetings altogether. Anyone in a growing business has had the displeasure of being stuck in an unproductive meeting. ![]()
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