Over the years we’ve been thinking about the cost of meetings a little bit. In the case of CK Golf when all you have to give is time, time becomes a pretty valuable commodity. Meetings must serve a purpose, or they can become a big time waster for everyone involved.
Case Study – from a few years ago…
We were sitting around the management meeting table at a golf course having a discussion on pull cart pricing. The discussion wasn’t going forward, should we increase the price $1 to fall in line with other increases, or decrease the price because of needs to upgrade fleet etc, etc. Finally, after about 30 minutes talking about pull cart pricing (in part to stop the discussion) we asked what the total pull cart revenue for the previous year was. After a quick check the answer was $900 annually! What, why are we even talking about this??
What Is The Cost of Meeting?
After looking around the table (including CK Golf) and seeing four other team members we decided to calculate the cost of the meeting. Knowing everyones wage we came to $2.88 per minute (all were year round employees). So in that 30 minutes we spent $86.40 talking about something that generates $900 total dollars in a year. We no longer waste that amount of time on decisions that should be quick!
By the way… pull carts are now free of charge at that golf course and we haven’t talked about it since.
We, Jeff and Tara Ciecko of CK Golf write two blogs, one is our 19th Hole Blog where we share personal experiences and the other an Industry Blog where we comment on general business and internet marketing best practices, sales strategies and give golf industry related opinions. We have owned CK Golf for 10 years and provide business services to the golf and other industries. As of August 2016 our life and our business is ‘location independent’. Our 19th Hole Blog is about the places we visit and the things we do. If you have any questions or comments, or happen to be in the same location as us please reach out and contact us anytime.