Business By Design

Ep 204: Business meeting rhythm: Stop oiling the squeaky wheel

• Stuart Wemyss & Mena Abraham

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0:00 | 32:15

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Too many businesses run on firefighting, where the squeaky wheel gets the oil. Stuart and Mena set up a weekly, monthly, and quarterly meeting rhythm- part of the systems and processes for business growth that keeps decisions owned and on time.

  • Weekly meetings keep delivery on track. They need a set agenda, one person running them, and a short scorecard that mixes lag indicators with lead indicators, the way FedEx replaced a single on-time promise with a 12-part service quality index
  • Monthly meetings are for improving the engine, with sales, operations and finance in the room. Domino’s eventually fixed its recipe, but a monthly rhythm with the right leading measures might have caught the drift years earlier
  • Quarterly meetings turn strategy into one theme at a time. Ours was “make value visible”, and it only stuck because it was on the scorecard every Monday
  • Giving every decision a clear owner is how to build a business that runs without you. When something goes wrong, blame the system, not the person, and celebrate whoever stops the line, as Toyota does

Chapters

00:00 - From firefighting to a meeting rhythm
 00:55 - Four features of a good meeting rhythm
 01:46 - Three layers: weekly, monthly and quarterly
 02:06 - The weekly meeting: keeping delivery on track
 04:25 - Building the scorecard: lead and lag indicators
 05:55 - FedEx’s service quality indicator
 08:41 - The monthly meeting: improving the engine
 09:54 - Domino’s and the recipe fix
 12:04 - The quarterly meeting: one theme at a time
 15:20 - Our quarterly theme: make value visible
 19:24 - How long each meeting should run
 20:51 - Separate sharing information from making decisions
 24:10 - Measurement without micromanagement
 26:32 - Toyota: celebrating whoever stops the line
 28:46 - Where to start

References


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Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

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