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What does your meetings cost - and how much are you getting back?


Each meeting costs money. The meeting you had today with 16 people has a price. Do you think about that or are the meetings just included in your everyday schedule? Take a moment and figure out what your next meeting will cost with the help of these questions:

1. What is the average monthly income for your participants?
2. How many participants are normally attending your meetings?
3. How long are your meetings on average?


Example:

  • 4 200 dollars (4 200/160 hours per month = 26. 25 dollars per hour)
  • 16 (26. 25 dollars x 16 = 404 dollars an hour)
  • 2 hours (2 x 404 dollars = 808 dollars)
The cost for each session is in this case 808 dollars, but we haven't anticipated what the participants could have done with the time, had they not attended the meeting. Neither preparation or travel time is included. And the time to get started working again after the meeting is not included either. I would probably say that the meeting will cost at least double. Was it worth it?  


About the author

Stefan Ekberg has worked in marketing for small business for 20 years and has written around 30 books on how small business owners can market themselves with limited resources. . In 2012 Stefan was nominated as Entrepreneur of the Year in Stockholm.

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"The 5 minute marketer" - the book
You run a small business and you want to get ahead of the competition, but how can you give resources to marketing when you're short on time and the budget is tight? The solution is here! The 5-Minute Marketer is packed with 395 tried-and-tested ways to market your business in 5 minutes or less.