How Will Online Business Meetings Save Your Budget

online meeting

Every business project begins with a thorough plan. In order to create this framework, it’s important to work with educated and skillful people. Business professionals who form such a team are more likely to get ahead of the curve. On the road to successfully executing a business project, business meetings play a major role in the formation of ideas of team members.

Therefore, business owners should hold regular meetings with their employees, advisers and business partners. What’s more, when these meetings are held online, you get to communicate efficiently while still saving significantly on costs. And MyOwnConference is the perfect platform for a fast and effective webinar organization.

Avoiding overhead expenses

Holding a physical meeting on your business premises always includes additional actions and expenses. For example, it’s impossible to stay focused and creative in summer when you and your team are sweating and panting. So, you need an air-conditioner or a few cooling fans to keep your meeting team fresh and cool. Also, they’ll need to have refreshments or snacks during such meetings – again, extra costs.

On the other hand, winter meeting sessions require central heating. Moreover, sometimes you need to turn on additional electric heaters, to keep the team warm.

Apart from that, there are other expenses that you might not even notice, such as making coffee, tea, smoothies or any other drinks. Also, don’t forget the electricity you’re going to use for each meeting.

While these might not seem like huge expenses, if there are one or two meetings a week, all year long, the total sum of these overhead expenses might not be as little as they first appear. Before you know it, one cost adds to another cost and the trajectory continues until you realize your expenses for holding meetings are not worth the value of the actual meetings. Some meetings are just for updates or to pass across certain announcements. Yet, you have to prepare the venue and other logistics every single time you have a physical meeting. It is easy to lose track of your expenses as a result.

Sharing business documents

Living in this day and age brings a huge advantage in terms of amazing tech hacks that make meetings simpler than ever. For instance, only ten years ago, meeting agendas were usually printed and handed out to attendees.

Nowadays, however, there’s no need to waste paper and drag around a briefcase full of business documents. Today we rely on various online tools for creating, storing and sharing documents.

In the same way, holding an online meeting enables you to use Google Slides or some alternative solutions to present your ideas to other participants. You can create documents, graphs, and video presentations and incorporate them in a well-prepared webinar presentation for your collaborators.

To top it all off, each of them will be able to follow it on their own computer or any other device in real-time.

As a result, they’ll have a chance to start working on the project immediately after the meeting. This way, they don’t have to waste time coming to your office, carrying their laptop bags on their shoulders. 

Besides, they’ll also be able to access all shared online documents whenever they want to work on their tasks. In return, it will give them more time management freedom. 

Working from different locations

remote work

Modern business people appreciate flexibility. Research conducted by My Family Care and Hydrogen showed that about 80% of people would like to work for flexible employers. Moreover, many of them will choose increased flexibility over a raise. Knowing that it’s clear that letting your employees enjoy some fruits of flexible work is a must. On the one hand, they’ll be more satisfied with both their business and private lives. On the other hand, you’ll save some assets.

One of the greatest benefits of the online approach to business meetings is that you can take part in them from any place with a fast Internet connection and proper equipment for video conferencing. For instance, an employee of yours has just gone on a family vacation, but you need to hold a 5-min chat with them. They can simply call you from their hotel lobby, discuss the business matter and continue with their vacation.

However, such a relaxed approach to work hours requires some caution as well. It is easy for flexibility to be misused. Hence, it is important that there isn’t too much flexibility. There should still be some form of structure to ensure work is done properly and at the right time.  What’s important here is to track your employees’ work hours, as well as their productivity. Measuring their efficiency will help you make the next move regarding that business policy.

The bottom line is that online meetings are a perfect way to keep your employees included in business affairs even when they’re thousands of miles away.

Expanding professional networks

As a result of the Internet’s rapid development, the global business market is getting closely connected. Therefore, many entrepreneurs expand their professional networks with foreign businesses. This trend enables them to order raw materials at lower prices. Apart from that, it also gives them a chance to hire a workforce at more affordable rates.

So, if you want to work with a foreign business fellow, the first thing you’ll do is make an appointment for an online meeting. Instead of wasting money on fuel or plane tickets, you can arrange everything on the Web.

What’s also important when negotiating the terms of collaboration with these enterprises is to discuss the payment options. If you don’t set some clear rules, both parties could experience some inconveniences. This is why you have to prepare a proper business proposal before that online meeting.

By doing so, you’ll increase your chances to secure a project and expand your professional network with a reliable business partner. And the only expense you’ll have along the way is Internet expenses, which you’re already paying regardless of the meeting.

Learning in real-time

Presenting a new idea or a project to your workers will require introducing some new concepts, i.e. learning new things. When this is done via the Web, it’s much easier for you to provide your collaborators with all the data they need about the project.

What you’re basically doing here is teaching your employees and partners online, in real-time. This is a great medium for a fast exchange of information since you can swiftly send links, tutorials and e-books on the given topic. The benefit of this approach to online business meetings is two-fold. On the one hand, you’ll manage to delegate tasks much faster. On the other, the participants will get an opportunity to show their individual skills by processing and applying new information in the shortest time possible. 

For instance, suppose you have a new project and need to explain what it entails and how you and the team will go about it, an online meeting is ideal because everyone gets to learn about the project at the same time. It can even become a brainstorming session where everyone shares their thoughts on what they have learnt about the project. This way, when it’s time to delegate tasks, everyone understands who is handling what and why based on the meeting.

Of course, the most productive ones should be rewarded with some bonuses or additional flexible work hours.

Here’s where online meetings not only encourage your employees to be competitive but also extend their business knowledge.

There are so many benefits that come with online meetings, and until this solution came, we never imagined we wouldn’t need to move from the comfort of our home or personal space to collaborate on projects or share documents. 

Who knows, maybe in the future we won’t even need to have online meetings but can share ideas just by thinking about them and choosing to share them via some telepathic portal. That sounds crazy, but so did the concept of the internet back then. So, we’ll just have to stay tuned to see what the future holds. 

All in all, we’re yet to experience the full potential of online business conferences. What’s important to know at this moment is that they’re the fastest way to distribute information to your employees. As such, they’re extremely valuable to every business owner who wants to expand their work capacity and improve their productivity. Online meetings will enable you to do that without wasting your business assets. Just try it for free with MyOwnConference.

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