Lunch For Success

Social Capital Seminar in San Francisco Feb 24

Posted on 18. Feb, 2009 by Craig Peters.

We’ve just been asked to join Sasha Vasilyuk’s Meetup group next week. We’re going to cover Social Capital and how it relates to some timely issues: surviving the recession, presenting yourself well, closing more deals and conducting a successful business lunch or power lunch. Should be fun and informative. If you’re in San Francisco and free on Tuesday, come join us (it’s only 10 bucks, which is a steal for the information you’ll gain).

When: Tuesday - February 24th, 6:30 - 8:00 PM

Where: Sandbox Suites, 123 10th Street, San Francisco, CA 94103

Here’s what we’ll be covering in the seminar.

• What is Social Capital and how to develop it
• Common misconceptions about Social Capital that cost you money
• How to get the most out of your “Business Lunch”
• Powerful ideas that you can use right away to separate yourself from your competition
• A template for a Social Capital Action Plan

rsvp by email or at Sasha’s Meetup page.

Here’s more information from the flyer:

Separate Yourself and Your Company from the Competition

A hard fact of the economic downturn is that it has greatly increased competition. There are many more hungry companies and people vying for an even smaller piece of the pie. These days, Social Capital means more than ever. Especially for the Entrepreneur.

Social Capital helps you get more done
Social Capital will help you get more done with less and if used correctly, can even replace large amounts of Financial Capital. Social Capital can green light an idea without a substantial investment of up-front money. It can get a person who you cannot normally afford to hire to work with you at a greatly reduced cost. It can get you that “impossible to get” meeting with a important investor.

Social Capital is the most cost-effective form of capital to develop
The “Power” to “get things done” consists of Financial, Intellectual and Social Capital. Of these three, Social Capital is the easiest to develop and stockpile as well as being the most cost-effective in the long run. Contrary to popular belief, it is not a matter of your innate social skills or your personality. Your Social Capital can be easily developed with a few simple ideas and a bit of practice.

Entrepreneurs need Social Capital
As an Entrepreneur, you may not have a large sales and marketing staff to handle this end of business. You must learn to do it yourself — especially in the beginning. Our program isn’t about sales methodologies. It’s about building fruitful and productive relationships that will drive your business forward.

Don’t make it harder on yourself - let us help you
Perception is reality and the only way to shape perception is through relationships. Starting a business, especially now, is hard enough. Don’t make it harder than it has to be by neglecting this very important piece of the overall picture. The Social Capital Group will show you how to develop and use your Social Capital. Please join us for a brief seminar followed by a question and answer session. Our staff will be there to answer any Social Capital questions you may have.

rsvp by email or at Sasha’s Meetup page.

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Bottom’s Up! Business Meals in China

Posted on 13. Feb, 2009 by Mark Cornish.

For the most part, I totally agree with Craig’s post about not getting drunk at a business lunch. In America business lunch etiquette generally has you staying away from lots of drinks.

But, what if your host is not American? Choosing NOT to drink can be insulting to the host, and can end a chance at doing business before you’ve barely started. As Ken Cheong explains:

The Chinese are big drinkers especially in Northern and Western China. It does not matter if it is lunch or dinner; as long as a meal is being hosted, there will be alcohol.

Chinese wine is the favourite, followed by red wine and beer. Chinese wine is more like fuel than liquor, having a alcohol concentration as high as 60%! No matter how good a drinker you may think of yourself, never, ever challenge a Chinese into a drinking contest. They will win, hands down!

It is often seen as rude not to drink with the Chinese in a formal dinner. To maintain your sanity, either claim to be a non alcoholic or plead medical grounds as an excuse. This will let you off the hook with little or minimal drinks. Better yet, bring a partner who can drink on your behalf!

Just like in many parts of the world, the business custom in China is to start your dealings with a meal.

There is no business talk in China without at least one trip to a restaurant. Sometimes, a trip is made to the restaurant even before any business discussion take place! Inevitably, the restaurant will always be a grand one and you are likely to be hosted in a private room.

Good luck, have fun, and close some business.

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Rise and Shine! Time for a Business Breakfast

Posted on 12. Feb, 2009 by Craig Peters.

One of my readers, Gray, asked if people are doing more business over breakfast. Yes, Gray, they are.

Why? Because it costs less. In yesterday’s post, I quoted a New York Times article, which said “the number of customers at breakfast — which is about 40 percent cheaper than lunch — has increased 20 percent.”

Here’s a bit from a Boston Globe article from last month:

The economic crash has exacerbated a generational shift away from power lunches and those mythical three-martini chasers, O’Neill said. Real business is now done early, from 7 a.m. to 9 a.m., over made-to-order omelets and mixed berry pancakes at upscale breakfast spots such as Meritage at the Boston Harbor Hotel.

“That’s where you see things happening,” O’Neill said. “Where business is being done.”

One of my favorite places for a business breakfast is at Bob’s Steak and Chop House at the Omni Hotel in San Francisco. Great staff. Great food. More importantly, they have these little mini-rooms where you can sit with your guests in relative privacy (and great coffee).

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Tough Times - Are the Rules Changing for Who Pays?

Posted on 11. Feb, 2009 by Craig Peters.

I can’t say it enough: a business lunch is an investment. You invite someone to a business lunch when you’ve decided that it’s a good investment. If you’re not going to be able to pick up the tab, then you have to reconsider your plan from the get go. Choose a more affordable venue. Meet over coffee. Entertain less frequently, and be more selective of which clients are worth the investment.

Laura Holson writes that things are changing a bit in her NYT article At the Power Lunch, the Check Is Kryptonite:

At Michael’s in Manhattan, some patrons who used to come in for lunch three times a week are now down to two visits, according to the general manager, Steve Millington. They are passing up extras like bottled water and rarely ordering both an appetizer and a dessert. And, he said, the number of customers at breakfast — which is about 40 percent cheaper than lunch — has increased 20 percent.

If you’re thinking that this is more sober and calculated than lots of power lunches have been handled, you’re right.

The Macho Game of Credit Card Lottery

When the economy was humming along and money was flowing, high-powered lunches were seen as a perk as much as an investment; a way to show off, feel good about yourself, impress the ladies, get what was yours because you’ve paid your dues. More from the article:

One wealthy woman, the wife of a securities company executive, said he and his work friends used to play a game at dinner they called “credit card lottery” to decide who would pick up the check.

Each man, she explained, would take a credit card out of his wallet and toss it onto the table. Then someone — usually their server — would be asked to pick a card and bellow the owner’s name so everyone in the restaurant could hear. The “winner” would pay the bill, which often tallied $1,000 or more.

“It was disgustingly awful,” she said. “The waitress hated it. The wives were uncomfortable. It was a guy’s betting kind of thing, you know, ‘I’m a macho master of the universe.’ Thank God, no one is saying let’s play that game anymore.”

For most of us, that scene never would’ve made sense. For most of us, we’ve always looked at the expense of a business lunch as an investment. Like any investment, you weight the cost and the benefit.

Let’s Just Put You Out of Your Misery

Let’s say you’re going to lunch with someone who can give you work. You get an hour of their time to establish yourself, build a relationship, and impress them so that you can have another meeting. Hopefully, in the end, they’ll be impressed that you know how to handle yourself and you’ll get the gig. Now, let’s say that the bill comes at the end of the meal and you’re feeling skittish about your funds, so you ignore it, hoping that someone else will grab it. You might even come up with some quick rationalizations in your head: “Well, she’s more successful than me and has more money…. She’ll understand that times are hard and she’ll pick up the bill.”

If you think this is a good idea, read another example from Laura and ask yourself if you ever want someone to think about you this way:

On a recent Monday night, Christine Peters, a producer of “How to Lose a Guy in 10 Days,” tucked into a corner booth in the Polo Lounge at the Beverly Hills Hotel with a fellow producer and an actress. They chattered about a possible film for an hour or so before Ms. Peters excused herself to go to the ladies’ room. When she returned, she noticed a thin leather case sitting on the table, with the check inside.

“Did anybody get this?” she asked. Both women stared blankly, first at her, then the check. “We didn’t see it,” one finally said. When neither offered to pay the tab, nearly $100, Ms. Peters did what she has found herself doing more and more these days: she fished out her wallet and paid the check herself.

“They were polite,” she said. “But neither wanted to pay. It’s like you almost want to put them out of their misery.”

If You Make Your Guest Uncomfortable, You’ll Pay

Say this out loud three times: If I make my guest uncomfortable, I’m going to pay a lot more.

Do you think Christine Peters left that meal with a positive feeling about working with these two people? Maybe. Maybe not. But if she did, it’s in spite of her lunch experience. Why make it harder on yourself?

Any social/business interaction is an opportunity for you to demonstrate that you know how to handle a situation. This is an opportunity to build social capital with that person; by making them feel cared for and creating a positive experience for them.

Just look at the opportunity cost. If you don’t get the work, you’ve lost more than the cost of the meal.

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Do You Power Lunch in Chicago?

Posted on 10. Feb, 2009 by Craig Peters.

I came across this post, Dish on Your Favorite Power Lunch Spots, today by Mandy Burrell Booth. If you live in the Chicago area and have a favorite spot for business lunch (also business breakfast and business dinner spots), you can share your opinion with the rest of the Windy City.

On Tuesday, March 3, Crain’s Chicago Business and “Check, Please!” will host a party at Texas de Brazil to videotape people from all over Chicago talking about their favorite spots to meet for a business breakfast, lunch or dinner. Crain’s will post a selection of these segments to its web site, ChicagoBusiness.com.

The party isn’t a free-for-all, though. You must register here, and the deciders will let you know if you’re in.

Ahh, I miss Chicago. Need to get myself over there some time soon.

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It’s the Same for Mrs. Clinton’s Business Lunch; She Invites, She Pays

Posted on 07. Feb, 2009 by Craig Peters.

How different is Hillary Clinton’s power lunch from your power lunch (or your “business lunch” if you prefer)? Would a CEO of a major international corporation do things differently than an entry-level salesperson at a power lunch?

At its core, a power lunch is a business lunch is a power lunch. They’re the same animal. They all follow the same overall structure; the same blueprint. In this article from the New York Times, we see Mrs. Clinton following the same guidelines that you and I do:

Lunch consisted mainly of coffee, tea and cookies (at Oscar’s, though, where they ate, a single order of coffee goes for $4). The bill came to $85. Mrs. Clinton, who invited the others to lunch, paid personally and left a $35 tip.

Of course, she probably gets more VIP treatment than the rest of us, but hey, she is the Secretary of State.

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You Can Never Blame Traffic: You Must be Early to a Business Lunch

Posted on 06. Feb, 2009 by Mark Cornish.

I realize that the first piece of advice you hear about a business lunch is to show up early. You get there early, confirm your reservation, make sure you have a good table, and rehearse your strategy.

Since some of the simplest words of wisdom are often the most easily overlooked, I just feel compelled to remind my readers with my own simple example.

Yesterday I had an important business lunch and my planned early arrival saved me. The culprit that almost ruined the lunch was nothing fancy: traffic. We’re talking 3 city blocks barely moving (construction project). I was on my way to Paragon ( a great business lunch spot near the ballpark in San Francisco). What was supposed to be a 5-minute drive turned into 25. I felt like abandoning the car and walking!

When I got there, the lunch crowd was huge. Even with my reservation, we were going to have to wait at least a few minutes extra. Had I left even 5 minutes later, my guest would’ve beat me to the restaurant - a cardinal sin if I’m the one hosting the lunch (besides I needed that extra time to see if I could get our table moving along and entertain my guest should we have to wait).

Fortunately all went well, I had a great lunch, and my business relationship grew stronger. I know you know it, but it’s worth a reminder: give yourself tons of time.

(Btw, if you go to Paragon, say hello to Pete the bartender. If you’re drinking, he makes some of the best infused vodkas in San Francisco.)

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Don’t Get Drunk (Just a Fun Business Lunch Reminder)

Posted on 06. Feb, 2009 by Craig Peters.

Is it just me, or does it crack you up when you read a business etiquette tip “don’t get drunk”? What else should I not do? Don’t punch your client in the side of the head. Let me write that one down - wouldn’t want to forget that.

In all seriousness, I did enjoy this article by Bernice Mulligan: Working through lunch. She’s got results from Pamela Fay’s survey on manners.

Pamela Fay is managing director of Business Performance Perspectives, a company specialising in business etiquette training and performance management.

Each year she conducts a survey on manners, and the results relating to food etiquette and business dining are fascinating.

“Our most recent survey reveals that 98pc of respondents believe table manners are important in Irish business,” she explains. “Another survey, conducted in 2007 by Berry Bros & Rudd in the UK, revealed that some 15pc of people would actually pull out of a business deal if they had a bad business lunch experience. In addition, for 67pc of respondents, getting drunk at a business lunch is the biggest faux pas that can be made. A further 41pc said they would have doubts about a person’s professional ability if they behaved improperly at lunch.”

I actually think these percentages might be higher than reported. The survey says that 15% of people would pull out of a business deal if they have a bad business lunch experience. That’s the self-reported number. Most people are more beholden to relationship influence then they like to admit (or are even aware of). So, it could certainly be higher than 15%.

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Business Lunch Etiquette Tip - Handwritten Thank You’s

Posted on 04. Feb, 2009 by Craig Peters.

Earn extra business etiquette points—aka social capital—by doing something a little different after a business lunch. In these digital days, the handwritten note is a dying art. Darrell Zahorsky agrees in his About.com article:

In today’s hyper social networked age, the simple act of sending business thank you notes to your customers is often overlooked. Saying thank you is a forgotten act and done by so few. It’s the reason why a thank you note leaves a strong impression, reduces customer remorse and builds referrals.

After your next business lunch, why not deliver a handwritten thank-you note to your client?

I actually came across this simple business etiquette tip earlier tonight in the Plain Dealer Living News - Cleveland.com (something about that name makes me smile, but I don’t know what). The short article lists different times when it’s appropriate to deliver a handwritten thank-you note, including the business lunch.

They mention writing a thank-you note when the other person pays for your business lunch, but I think it’s as important to thank someone even if you paid. While you may have paid with money, they gave you something, too - time, conversation, ideas, connections…

I didn’t expect to go this deep into the subject, but I found an article called Writing a Thank You Note at DailyWritingTips.com and How to Write a Thank-You Note from The Morning News on how to actually write a business thank-you note. If you’re really curious, you can find guidelines and examples there.

Now, like I’ve said before, a framework is more important than a bunch of tips (the first section of The Power Lunch training video lays out a framework). With that said, I’m not against talking about tips. In fact, truth be told, I like talking about tips. It’s useful and, well… kinda fun.

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A Business Lunch is Not a Social Engagement

Posted on 03. Feb, 2009 by Mark Cornish.

I want to take a moment to remind my readers that a business lunch is not a social engagement. It sounds simple enough, but it’s a fact that’s often overlooked or forgotten. It makes sense that it’s easy to forget. We’re trained over years of practice to sit down for meals with friends and family as a way to connect and be together socially. On top of that, when you’re eating out it’s easy to get caught up in the wonderful food, the good-looking wait staff, the game on TV.

I like the way Christopher Elliott puts it in his article 5 business-lunch faux pas:

A business lunch is part meal, part meeting.

Notice it doesn’t say “…part hanging with your pals” or “…part sitting back relaxing.”

Remember, focus on achieving your goals and executing your plan. Even if your lunch partner seems to just want to get to know you and chat, remember not to get too casual. Relaxed is OK. Being too casual is not. If you really need to get some socializing in, save it for after work.

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