February 14


Key Meetings Pt 2: Essential Monthly Meetings

By Eric

February 14, 2024

Key Meetings Pt 2:  Essential Monthly Meetings

  • Marketing Meeting
  • Finance Meeting 
  • Monthly Review
  • 1 on 1s

In Part 1 of my series of the key meetings that all businesses should have, I went over the weekly Sales, Operations and Leadership meetings.  The Leadership one is only if you have sales and operations managers.  The other key meeting is the daily huddle.

With these meetings you actually get MORE free time and less distractions because your staff saves non-urgent but important matters to discuss in those meetings.  They know not to text you randomly or call and interrupt your workflow (outside of super urgent matters, which we all know rarely come up).  

For my main company LIFT Enrichment that I started 14 years ago, I stack a lot of those meetings on the same day so I have the rest of the week to do the harder higher-level tasks that take a lot of focus.  

I’ve delegated the Sales and Operations Meetings, and even the Leadership one.  I attend the Leadership one, but as a participant, as my President runs that meeting every week.  Recently, I changed my schedule so I attend it every other week.  I literally have a four hour week (every work week) and make a 7-figure income so I can devote most of my focus on my Net Profit King.  Once it hits a certain rate of revenue, I’ll delegate all the key meetings and free up my time even more.

Here are the next four meetings that happen monthly or bi-monthly.  You can probably guess what they are because they represent key parts of business that aren’t Sales or Operations.

Finance Meeting:

The Finance meeting is a monthly meeting that focuses on the core financial levels of my business. These include

  • Profit & Loss Review:  We look at last month’s P & L…which is honestly not super important because I’m more focused on the Trailing 3 months P & L and Trailing 12 months P & L, which are more accurate snapshots of the company’s health.  I also look at percentages of revenue for Gross Profit, Net Profit, COGS and a few other key categories.  
  • Cash Flow:  We then look at the current bank account numbers and make sure we have plenty of cash (which is usually the case.
  • Budgeting:  This it to scan the budget from last months and upcoming spending to make sure our predictions are roughly on track
  • Credit Cards / Transactions Review:  We can bank statements and credit cards for any audities or services we don’t use or very high expenditures to avoid fraudulent activities
  • Tax Planning:  Uncle Sam always gets his cut!  We look into how much how our quarterly tax will be and make sure we have enough budgeted

We have an “Issues” section which I went over how that works in the first post of the Essential Meetings series.  For more detailed elements to troubleshoot

The Finance Meeting takes about 60 minutes and is attended by the Controller or CFO, President and Founder.

Marketing Meeting:

The Marketing Meeting is more frequent because it impacts sales (which is something I’m always focused on)

The key part of the marketing meeting, which is about 60 minutes and is attended by the Founder, President and all Marketing-related staff.

  • Website Stats:  Visit per month, which pages have the most traffic, etc.
  • New Leads:  From the website or other key marketing channels
  • Followers/Subscribers on Key Channels:  You’re probably posting in a lot of places, and you should look at postings across all channels (we repurpose content a LOT) and track subscribers on the channels your clients mostly go to like Linkedin, Facebook, Instagram, Tik tok, Pinterest, Twitter X, etc.
  • Email Newsletters:  We send newsletters every week and tracking open rates, click throughs, etc. is a key part of marketing.
  • Referrals:  Who can refer us out and how?
  • Joint Venture:  Who can partner us with that also targets our same clients?

And you can add other elements like Public Relations and opt-in pages, paid ads, and so much more.

1 on 1 Meetings

Each staff member has a scheduled 1 on 1 meeting with their direct supervisor every other week.  It can range from 30 minutes (which I aim for) to 60 minutes (usually for those with more high-level positions).  

We have a structured element, so the participants have to write down the individual Issue topics to discuss.  

We don’t just “free style” because you can’t really solve anything if you jump from topic to topic the minute it pops in your head.

Instead, WRITE IT DOWN, and then SOLVE one key topic (with To-do items, that are logged on Basecamp, our project management software)

Plus if a staff has an “idea” they can save it for this 1 on 1 meeting.  It’s just very helpful for the supervisor and the staff, plus 1 hour every other week is far better than tons of non-urgent phone calls or texts throughout the week.

Monthly Meetings: Operations, Sales and Leadership

Each of the Operations, Sales and Leadership Meetings have a monthly component.  In this meeting, we look at the Key Performance Indicators (KPIs) of on a Monthly timeline:  These are things like:

  • Sales Pipeline
  • Closed Clients
  • Client Success Percentage
  • New Leads
  • New Hires
  • Recruiting Pipeline
  • Revenue
  • Profit

And much more.

It’s a more macro view for each department.

In my next and last post of the meeting series we’ll go over Quarterly and Annual meetings.

And if you’re a dental practice that’s tired of not making enough net profit, wants to bring in new patients, organize your finances and completely level up your recruiting, company culture and customer support: Book a meeting with me and the Net Profit King Team HERE.

We will work for free, to get your 10 new patients.  It’s our latest offer, it’s no-risk on your side and all upside using our unique business techniques (like remote offshore talent hiring!)

Eric Horwitz

Eric Horwitz

CEO And Founder

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