Understanding the 'Why' Behind Regular Team Meetings in Retail Business

October 12, 2023

In the world of retail business, maintaining momentum is just as crucial as setting it in the first place. One proven method to keep the wheels turning smoothly is regular team meetings. While this might seem like a no-brainer, the practical execution and beneficial outcomes of these meetings are often overlooked.

Every retail business is a beehive of activity, with countless fires to put out and an endless array of tasks to tackle. Against this backdrop, a regular meeting with your team might appear redundant, especially if you see your team every single day. However, these interactions often revolve around immediate tasks or problems at hand and not the broader goals or strategies.

Regular meetings on Mondays and Fridays provide a platform for systematic performance reviews and planning. Team members get an opportunity to present their scorecards, discuss their accomplishments, and set their plans for the week ahead. They also enable the identification and rectification of any hiccups that might be preventing the achievement of the set goals. These meetings are not about the leadership doling out instructions but about team members presenting their understanding, solutions, and plans to push the business forward.

The results? An engaged team, a clearer understanding of the business's current state, and a definite plan of action for the future. Most importantly, these meetings serve to keep everyone's eyes on the prize, constantly talking about and working towards business improvement.

Action List:

  • Establish a twice-weekly meeting schedule with your team, preferably on Mondays and Fridays, at a time that works best for your business.
  • Make these meetings mandatory for all key members of your team - from management to salespeople.
  • Instruct each team member to come prepared to the meetings with their scorecards and a review of their past week's performance.
  • In the meetings, discuss whether the goals were met. If not, identify the reasons and devise a plan to fix the issue.
  • Make sure the meetings have future-oriented discussions. This includes the team members' plans for the upcoming week and how they intend to meet their goals.
  • Make Friday meetings about reviewing the performance of the first four days of the week and devising a plan to achieve the goals by the weekend.
  • Ensure open communication, active listening, and constructive feedback during the meetings. Everyone should feel confident and prepared to contribute.
  • Regularly iterate and remind everyone about your business's goals and expectations, and discuss any business facets needing attention.
  • Constantly aim to improve the business by moving the dial on targets, goals, and expectations based on performance.
  • Make sure to be open to communication beyond these meetings. Encourage your team to reach out with any questions or issues they may encounter.

Remember, meetings are not just about checking in with each other; they are about fostering an environment of collaboration, innovation, and constant growth.

Return to the blog