It is great to plan for a practical business meeting, and it can be more helpful than unplanned meetings.
An unplanned business meeting may end up as a waste of time for your team and business purpose, and the conference may end without deciding anything regarding your business motive.
Make sure the cause of the meeting is fulfilling the goals of the selected purpose.

Plan the meeting if it is necessary 

Ensure that if the formal meeting is necessary or not?
If the purpose of the meeting is crucial to be reviewed at a conference, then arrange it and send the invite to the participants.
If the purpose of the meeting is not that primary to be held formally but crucial to be discussed, you can discuss the purpose of the meeting with the participants via email or a conference call.

Before arranging a business meeting figure out the purpose of the meeting

Why are you planning for the meeting? It is necessary to know about the motive for the meeting.
Select an agenda for the business meeting, you want to be discussed by the team during the conference.
And make sure to keep the discussion on that specific topic that you have selected for the meeting.
And make sure if the meeting will help to accomplish the goals regarding the motive.

Note down the topics:

Noting down the topics to discuss in the meeting is an effective procedure.
This process will have positive effects during the meeting.
It will help the team to make a decision regarding the selected motive for the meeting.

Make a list of participants :

Creating a list of attendees is also one of the main tasks while planning for a business meeting.
Call for the participants who are needed and belong to the selected agenda for the meeting purpose.

Unnecessary attendees can make the meeting effortful and they may end up wasting their time there, which has nothing to do with them.

Inform the participants 

It is important to know the purpose of the meeting for the participants because it will help them to stay on track and continue throughout the conference.

Informing the participants about the motive before the meeting can be helpful for them as if they know the purpose, the team will come prepared.

Inform your team about the meeting at least 1 or 2 days before the meeting.
Notify your team in advance about the meeting plans, so if they have any plans, they can reschedule their plans according to the business meeting.

Schedule for the meeting:

After confirming the time and location for the meeting, inform your team about the plan for the meeting.
Make sure to start and end the meeting on time, because the longer it gets, the harder it will get for the participants to focus on the motive.

Arrange the meeting at a convenient time for the participants so that every attendee can join at a fixed time.

Additionally, consult your team before scheduling the meeting.

And after scheduling the plans of the meeting, inform your team about the schedule as a reminder call.

Assign the work 

After the discussion, assign each participant the work that belongs to their profession,

Summarize the meeting after

Making a summary of the discussion held in the meeting will turn helpful.
Send the summary to the attendees so they can stick to the work assigned to them.