158 The Financial Times Guide to Business Development
Master your meetings
If you want to nd a way of wasting valuable business development time,
have a meeting to discuss business development!
Have you ever been to a meeting, particularly an internal company one,
where you left feeling uplifted and excited, like you had really achieved
something useful and that this was a great use of your time? I have, but not
often! I struggle to think of more than a few which have been necessary and
totally constructive. There seems to be a culture in many organisations of
simply holding meetings as a substitute for actually getting on with the job.
It never ceases to amaze me, how much time is squandered in meetings.
I once attended a formal gathering of a major legal practice which had 20 partners
present, all of whom charged about £250 per hour. The only issue to discuss was
what percentage shade of grey their new brochure front cover should be printed in.
This discussion went on for three hours. If you do a bit of basic number crunching,
this vital meeting and decision cost them 60 hours of time and at their charging rate
amounted to £15,000. Time and money well spent, don’t you think?
It is astonishing and ironic that one of the things that business develop-
ment people spend so much of their work time on is regarded, by them, as
one of the biggest time traps of all.
Here are just a few of the comments I have heard when I have asked people
about meetings in their organisation:
‘Given e-mail and other modern ways of communicating with each other, it
is incredibly outdated to think that every time we need to speak to each other
we have to have a meeting.’
‘We have weekly business development meetings. Every time we virtually
discuss the same things. We talk a lot and no one ever does anything.’
‘On the whole I think business development meetings here are a waste of
time. The only good thing about them is that I can stock up on sandwiches,
fruit and chocolate biscuits.’
Of course, the reality is that some meetings are productive and are abso-
lutely justied. What is it then that differentiates the worthwhile from the
time-wasting meetings? Here are a few tips on how to master your time
when it comes to meetings.