Depending on what source you’re consulting, anywhere from 75 to 90 per cent of startups fail. The reasons are varied. Sometimes, funding runs out. Other times, teams don’t mesh, the market doesn’t co-operate or competition is too intense.
But my theory is that a hidden menace is dragging down lots of startups (and established companies): too many meetings. According to one estimate, unnecessary meetings cost U.S. businesses a mind-blowing $37 billion a year. Meanwhile, studies have shown that employees spend more than 60 hours a month in unproductive meetings — half of which they consider to be a complete waste of their time.
As Hootsuite has grown, I’ve realized how challenging it really is to keep a lid on meetings. The original team that developed our platform for managing social media consisted of just seven people. We now have more than 800 employees. Meetings are an absolute necessity, but keeping them focused and on task is a minor obsession of mine.
Here are a few hacks I’ve picked up along the way that help me and my team avoid the unproductive-meeting trap, at least most of the time:
Skip the meeting altogether. One of the best ways to avoid unproductive meetings is to not have them in the first place. Think twice before yanking your colleagues away from their desks. And if you find yourself getting roped into too many meetings, hone your ability to say no.
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