Do you think partying is a waste of time? Not only are wasting hours in clubs, lounges and bars… you’re spending a ton of cash on alcohol, right?
I hate to burst your bubble, but partying isn’t a waste of time. Although you are spending 10 bucks for every drink you buy or $500 per bottle, there is a huge ROI. So instead of sitting at home every Friday and Saturday night, you should be hitting the clubs and partying. Here’s why:
You never know whom you’ll run into
Like clockwork, you can expect me to be partying every Friday and Saturday night. From 10pm to 2am, I am out and about in the city hitting up local bars, clubs and lounges. It doesn’t matter if I am with friends or family, I always go out to party.
I’ve learned that when you party you end up meeting great people… especially if you are partying with a group of friends that has a large network. Roughly 90% of the time you’ll meet people who are just looking to get drunk and aren’t too ambitious.
But 10% of the time, you’ll end up running into successful people who are either entrepreneurs or career focused. Partying isn’t cheap and if you want to go out and have a good time, it costs money. So there is a good chance that others you encounter while partying are doing all right financially.
By meeting new people not only will you start building up your network but you’ll also be gaining new friendships. These friendships can be very valuable because you never know who they know.
I met more than half of the entrepreneurs I know through partying.
Alcohol is your best friend
When you start hanging out with your new friends it’s always best to start your friendship with some alcohol. This will loosen everyone up and make them feel more comfortable around you.
Also, when you start drinking with your new friends make sure you buy the first round of drinks. In exchange they’ll probably buy you the second round and from there you guys can take turns buying each other drinks.
Buying alcohol shows good faith and typically if you buy someone a drink they won’t just bail on you. Instead they’ll stick around, chat with you for a bit and if they are there with other friends, they’ll probably bring you into their circle.
This is what I call “social circle networking”. If you introduce someone to your friends, that person is automatically given some clout. If you are willing to talk with them and introduce them to other people they must be worth getting to know, right? That’s how it works when people introduce you to their friends.
It’s 10 times easier to close a business deal when introduced.
People love talking shop… when they’re drunk
Have you noticed that you’ll be open to talk about almost anything when you are drunk? That’s what happens with most people. When they get trashed, you’ll start hearing about their personal life, career and work drama.
When doing so start to transition conversation towards work as this will help you understand what they do, how much power they have within their company, and if there is anything you can do to help them out.
Relationships and bonding is what closes deals.
The best deals start over alcohol
Once the conversations heats up about work, within 30 minutes to an hour you should be able to figure out if there are any potential synergies. If there aren’t any, don’t just drop the conversation and walk away, instead continue to build the relationship as they maybe well connected.
If there are potential synergies let them know how you can help solve their problem. But most importantly, don’t try and close the deal over drinks. All you have to do is plant the seed that you can help out, how you can do so, and let them know how you are really good at what you do.
At this point you want to make sure you get their contact information and then transition the conversation into anything that isn’t work related.
More than 50% of my deals are closed through partying.
Don’t get too drunk
Although this sounds simple, this is actually the easiest way to lose a deal. If you get too drunk and say something offensive or do dumb things, you’ll start turning off your new friends.
You have to try to find that happy medium where you are having a good time, but you aren’t being belligerent. When in doubt, start switching your drinks to soda water with a lime, as it will look like you are drinking even though you aren’t.
Plus, if you get too drunk there is a chance you can get sick and that’s the last thing you want to do.
Never get trashed when you are networking.
Always follow up
The most important step that you have to remember is to follow up. Planting a seed is a good first step, but you don’t want to close a deal when people are partying.
You want to make sure the other party has a clear head, sees the value in what you can provide, and more importantly wants to work with you. If they see all of that, you’ll get a deal.
I typically try to follow up within 24 hours of hanging out with my friends. And the follow up is a text message that goes like this:
Hey John, it was great hanging with you last night. Lets meetup for coffee this week. Let me know what works for you.
Make sure in the text message you aren’t asking if they want to meetup, instead tell them. If you ask, there is a higher chance that they’ll say “no”.
If you don’t follow up with a 2nd meeting, you won’t close the deal.
Partying may seem like a waste of time, but if you party with the objective of expanding your network, it will pay off. All you have to do is start going to nice enough places where you can meet successful people. The easiest way to meet these people is to go to bars, lounges, and clubs that aren’t affordable. Nice places typically attract successful people.
So if you think partying is a waste of time, think again. There’s an ROI in it. Even if you don’t drink, for whatever reason, try to surround yourself with people who are out and having a good time.
And although going out and getting drunk may seem like a waste of time to some people, it should still be part of your job.