Do you think partying is a waste of time? Not only are you wasting hours in clubs, lounges and bars, you’re spending a ton of cash on alcohol, right?
Do you want to know the secret ROI of partying? Check out these 6 facts about going to parties and clubs.
I hate to burst your bubble, but partying isn’t a waste of time. Whether 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 10 pm to 2 am, 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 ambitious.
But 10% of the time, you’ll end up running into successful people who are either entrepreneurs or those with a strong career focus. 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 to that person and introduce him or her to other people, he/she 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 lives, careers and work dramas.
At this point, start to transition the 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 with your new friends heat up about work, within thirty 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 relationships as the people you are talking to may be well connected.
If there are potential synergies, let your new friends know how you can help solve their problems. But, most importantly, don’t try to close the deal over drinks. All you have to do is plant the seed that you can help out, explain how you can do so, and let them know that you are really good at what you do.
At this point, you want to make sure you get that person’s 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 a dumb thing, 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 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 to execute 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 your counterpart sees 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 out with you last night. Let’s meet up for coffee this week. Let me know what works for you.
Make sure you aren’t asking if he or she wants to meet up. Instead tell them. If you ask, there is a higher chance that your new contact will say “no”.
If you don’t follow up with a second 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. 😉
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