Lunch Appointments

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Jan 28, 2009 3:34 pm

There is a younger guy in my area that built almost his entire mortgage business (and it's successful by the way) on finding one different business professional per day and taking them to learn about their business and introduce his.

 
If you someone were to do this for 2 months straight, you would have taken out about 45 people.  Assuming you spent about $20-$25/lunch for the both of you, you would have spent between $900 and $1125. 
 
Now that amount could easily be made back in getting just one client, which could come from one of the 45 one-on-one meetings or even better, in the form of a referral. 
 
If someone had the marketing bucks in their back pocket, why wouldn't they make this a goal?  Has anyone really taken this marketing/prospecting avenue as opposed to a more casual lunch every once in a while?
 
I'm really thinking about this as I know personally and know of some lawyers, CPA's, business owners, and other COI's that don't know exactly what I do or that I haven't seen in years.
Jan 28, 2009 3:42 pm

There was a post on here some time ago (or maybe it was an article I read), about an advisor that did the same thing with dinners.  It think the guy built a huge business doing only that for like 4 years. 

Jan 28, 2009 5:54 pm

Snaggletooth, you could do that.  However, you could be equally successful doing it by meeting them in their office.   The difference is that you'd save the $1000.

Jan 28, 2009 5:57 pm
anonymous:

Snaggletooth, you could do that.  However, you could be equally successful doing it by meeting them in their office.   The difference is that you'd save the $1000.




Better yet, you could drip on them for six years with weekly emails.

Jan 28, 2009 6:05 pm
anonymous:

Snaggletooth, you could do that.  However, you could be equally successful doing it by meeting them in their office.   The difference is that you'd save the $1000.

 
I have to eat too...so I'd really only save $500.  There are a lot worse things I could blow that money on, like crack.
Jan 28, 2009 7:31 pm
snaggletooth:

There is a younger guy in my area that built almost his entire mortgage business (and it's successful by the way) on finding one different business professional per day and taking them to learn about their business and introduce his.

 
If you someone were to do this for 2 months straight, you would have taken out about 45 people.  Assuming you spent about $20-$25/lunch for the both of you, you would have spent between $900 and $1125. 
 
Now that amount could easily be made back in getting just one client, which could come from one of the 45 one-on-one meetings or even better, in the form of a referral. 
 
If someone had the marketing bucks in their back pocket, why wouldn't they make this a goal?  Has anyone really taken this marketing/prospecting avenue as opposed to a more casual lunch every once in a while?
 
I'm really thinking about this as I know personally and know of some lawyers, CPA's, business owners, and other COI's that don't know exactly what I do or that I haven't seen in years.
 
What language would you use to get them to meet you for lunch?
Jan 28, 2009 8:04 pm
Baba Booey:
snaggletooth:

There is a younger guy in my area that built almost his entire mortgage business (and it's successful by the way) on finding one different business professional per day and taking them to learn about their business and introduce his.

 
If you someone were to do this for 2 months straight, you would have taken out about 45 people.  Assuming you spent about $20-$25/lunch for the both of you, you would have spent between $900 and $1125. 
 
Now that amount could easily be made back in getting just one client, which could come from one of the 45 one-on-one meetings or even better, in the form of a referral. 
 
If someone had the marketing bucks in their back pocket, why wouldn't they make this a goal?  Has anyone really taken this marketing/prospecting avenue as opposed to a more casual lunch every once in a while?
 
I'm really thinking about this as I know personally and know of some lawyers, CPA's, business owners, and other COI's that don't know exactly what I do or that I haven't seen in years.
 
What language would you use to get them to meet you for lunch?



"Would you like to have lunch with me?"

Jan 28, 2009 9:15 pm

Hank, I'm disappointed....I thought for sure you'd fire back with "English"

Jan 28, 2009 11:48 pm

Read "Never Eat Alone" by Keith Ferrazi.

Jan 28, 2009 11:52 pm
Baba Booey:

Hank, I'm disappointed....I thought for sure you'd fire back with "English"




Is English still legal in this country?

Feb 7, 2009 7:58 pm

I like the idea but how many different types of people can you meet with that would be considered decent referral sources?  (outside the obvious, attorneys, cpas, mortgage brokers, maybe realtors etc.)    These people all would like referrals from you as well and it's difficult to spread the wealth that far around.   The idea is good, any suggestions from others to iron out the wrinkles?

Feb 13, 2009 8:47 pm
GlengarryGlenRoss:

I like the idea but how many different types of people can you meet with that would be considered decent referral sources?  (outside the obvious, attorneys, cpas, mortgage brokers, maybe realtors etc.)    These people all would like referrals from you as well and it's difficult to spread the wealth that far around.   The idea is good, any suggestions from others to iron out the wrinkles?

 
I think I'd start with once per week, as you're probably right after a while that would be a lot of people.  In my town, I don't think I could find 200 people a year to have lunch with me even if I gave away $100 bills.