It's always a relief for people attending a meeting to have an emcee who keep things moving. With some advance planning, and the will to stay in control, you will keep your audience in their seats with their minds on the event at hand.
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Don't fumble for an opening. Have a detailed outline in front of you, something that includes more than just the agenda. Consider writing out an entire script so you don't miss anything, and you're not caught wondering what to do next.
This is risky. When you introduce special guests be sure not to overlook someone. Introducing special guests is an important function to the meeting so it worth your time to give it some serious thought. Don't rely on a list of people who said they would attend. Assign someone to check that list against the actual audience. Ask the audience to hold their applause until all special guests have been introduced, and then lead them in applause when you're done.
If this is a business meeting, use good parliamentary procedure, but keep things moving as simply and quickly as possible. Remember, you may have guests in the audience who won't care about this portion of the meeting. On the other hand, your members do. Work to reach a balance for both groups.
Don't allow the meeting to just taper off, trying to make last minute statements while people's minds have already left, even if their bodies haven't. Praise volunteers who organized the meeting and thank everyone for attending.