Nobody likes meetings, so if you schedule one, you'd better get something out of it. A simple formula can help ensure that a meeting won't be a waste of everyone's time.
Inc's equation is as follows: "No leader + no documentation + no follow up = waste of time." Steve Tobak explains:
Every meeting has to have a leader, a stated purpose, a start and end time, and a valid reason for each and every person to be there. The leader documents conclusions, plans, action items, whatever, then follows up.
Basically, ideas generated in meetings die unless the onus is on one person to either delegate or act on them later. If that person doesn't exist, or if she fails to fulfil the rest of the equation, then the meeting will be unlikely to create any lasting value. Be sure to click through for more advice on holding productive meetings.