How Expensive Are Your Meetings?

Remember, says Jason Fried, there’s no such thing as a one-hour meeting.

Photo Credit: Consolidated Construction

A 1-hour meeting with 8 people is an 8-hour meeting. That is 8 hours that something else could’ve been getting done.

And what are those 8 people’s salaries?

If those 8 people make $100,000 a year, that’s at least $50/hour.

Eight people x $50/hour = $400.

Are those eight people, making $100,000 a year, getting together to solve a problem that’s costing their organization more than $400? Gosh,I hope so.

Not to mention, how much value could they provide with those 8 hours back?

Something to consider before scheduling that giant Town Hall aimed at everybody (and consequently nobody) — or even that status meeting where you just go around the circle and share what you’re working on. There are usually better options.

Here’s 5 keys to more successful meetings.

And 11 simple hacks for more effective meetings.

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This blog started primarily as a marketing blog, but now I write much more about work/life, social psychology, health and happiness. I will also continue to explore top performers (authors, entrepreneurs, business leaders and more) and dissect what we can take away to be top performers in our own work and personal lives.

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