Do you hold solo business meetings? This is where you sit down by yourself without interruptions and review what’s working and not working in your business and map out future plans. My original business coach got me into the habit of doing this each Sunday night, and I’ve discovered 3 benefits that happen as a result of these solo business meetings.
1. My week is more structured and productive.
By planning ahead and filling out a calendar with all of the meetings, appointments, family obligations, etc I have for the week, I clearly see the days and chunks of time when I’ll be focusing on my business. This is especially important during the summer months when my kids are home and we often have activities planned. If my available time is limited for a certain week, I add additional tasks to my virtual assistants’ lists and delegate what I can to my in-house team members. This helps me to stay focused on the activities that bring in the most revenue, rather than getting bogged down with less important tasks. At the end of the week, I have accomplished a lot more and am more content with my productivity than on the weeks where I don’t hold my Sunday night business meeting.
2. I accomplish my monthly, quarterly and annual goals with more ease.
If I don’t meet with myself and review where the business is compared to where I want it to be, then time just slips away and I don’t make consistent progress towards my overall goals. But by taking a look at my overall goals that have been broken down into monthly and weekly tasks, I know right away if I haven’t been taking care of those tasks, and if it is something I need to schedule more time for. Otherwise, months could go by and I could get busy with other tasks and never take a single step towards that goal.
Say you have a goal of securing 1 new wholesale account each month. Then you’ll need to reach out to X number of potential accounts and pitch your line. If you’ve scheduled time for this each week and follow through with completing that task, you’re much more likely to reach the goal of a new wholesale account than if it’s simply another item on a to-do list. It’s the same with revenue goals. If you’ve fallen short of your yearly goal, then you know (because you’re reviewing on a weekly basis) that this next week or two you really need to be creative and hustle hard to get back on track.
3. I fail faster, but also recover faster.
There are products, programs and services I’ve released over the years that have been super successful, have helped entrepreneurs and were very profitable. Others, not so much. But since I keep a close eye on metrics including page views, conversion rates and sales in addition to feedback from customers, I know which can stay as is, those that need to be tweaked slightly and those that need to be trashed. I don’t waste my time on things that aren’t needed or that cost too much or that aren’t as profitable. Clearing those off of my plate helps make room for new and/or improved items.
A solo business meeting doesn’t need to take a lot of time – mine takes less than an hour each Sunday night. But the time that it saves me and the clarity it brings by doing a brain dump at the beginning of the week and mapping out my tasks and priorities certainly makes it worth it.
Do you have solo business meetings? If not, why not? If so, what’s a benefit that you’ve seen as a result of holding regular business meetings with yourself?