Although every business is distinctly unique, there is one activity that consistently demonstrates the overall health of an organisation. The quality of the Weekly Management Meeting is the Litmus test of your company’s stability, strength and integrity. This single activity is the metaphorical equivalent of using the health of a canary to judge the safety of a coal mine. It accurately predicts the vitality of the rest of the company, just as the vitality of a canary does for miners.
Although you likely have an immediate, more general diagnosis of your canary’s health, here is a quick business coaching self-check that can help you focus upon some specific areas of management weakness.
Self-check on the health of our Weekly Management Meeting canary:
- Is there is a consistent weekly meeting that starts on time, ends on time, and that everyone considers to be highly productive?
- Does everyone on the management team share their thoughts and ideas with a high level of trust?
- Is there an effective scorecard for measuring how the company is performing in its key areas?
- Is cashflow effectively monitored with accurate forecasting as part of the meeting process?
- Is the majority of the meeting used for identifying and actually resolving the key challenges of the business?
- Is there a longer quarterly meeting used to refocus the team on the key initiatives for the upcoming quarter?
Answering ‘no’ to any of these questions likely suggests weaknesses within your team, your company structure or the business at large. In affect, if you answer ‘no’, you have a sick canary. Left unchecked, these issues can fester and grow beneath the surface, unrecognised or addressed due to your lack of a fully-functioning, healthy Weekly Management Meeting.
Why is the Weekly Meeting so indicative of a company’s management health?
The meeting brings all the key pieces of the company together and shines a spotlight on each of them every week. When there is a weakness in the company, it will come up through maintaining highly productive weekly meetings.
Through this process, you can turn all those noes into yeses, resurrect your canary and unify as a team to address any concerns that may arise. From this healthy and united position, you are far better able to tackle issues in the earliest stages, extinguishing the sparks before they become fires.
As an initial assessment of your company’s health, complete the free Better Execute 20-Question Self-Audit. If this uncovers issues within your company processes, contact Better Execute to discover how we might assist in returning your business to optimal health.
Learn how to develop healthy, productive Weekly Management Meetings in part 2 of my Canary in the Coal Mine blog, coming soon.