Let's NOT Do Lunch!
Before accepting a "working" lunch, evaluate whether it's truly beneficial for your business. Ask yourself about the expected ROI—could your time be better spent on tasks that directly further your business goals? Consider alternatives, like a quick coffee meeting instead of an extended lunch, and ensure that both parties will gain value from the interaction rather than it being one-sided. Prioritize hitting your sales and productivity targets before indulging in social business engagements.
You've heard it a million times before and you've probably committed this obvious sin on many occasions yourself - taking time out for a two hour "working" lunch only to find yourself at the end of the week behind, bloated and broke. So what happened? With the economy teetering on a shaky precipice, it's tempting to think of drumming up some new business by schmoozing for lunch. But can you really afford to do that? Before you just blindly accept the next free lunch, ask yourself the following questions:
Ask yourself...
* What will your ROI be? If you were investing in a stock, you'd have the same question, so why do we "forget" to ask ourselves that same question when it comes to how we spend our time. So, what's your expected return on investment of that 2 hour (or 90 minute) grazing buffet? Really. How many customers could you call? Personal notes could you write? Ezines could you create? Would that further your business more than just hanging out with someone who can only marginally help you out?
* What makes this lunch date so important anyway? Are you REALLY going to land that next big gig by sitting there and shooting the breeze? Is there a more efficient way to take the meeting? Sometimes there isn't but you owe it to yourself to at least beg the question.
* Could lunch be a latte? We've all heard about the dreaded Latte Factor where we waste billions of dollars a year on mindlessly ordering fancy coffee concoctions, but in this case it might make sense. Think $3.65 instead of $36.50. Could you have a coffee and skip most of the small talk with your play date instead of languishing the afternoon away?
* What's on the other person's agenda? Are they looking for something from you without it being a win/win? If they are, that's no problem but perhaps the favor could be asked over a preset conference call time lasting say, 20 minutes.
* Have you met your numbers? Sorry to sound harsh, but really. Have you hit all of your sales goals, profit goals and biggest items on your to do list? If yes, then it might be ok to get down to your gastronomic business after all.
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