The Death of the Power Lunch

The Death of the Power Lunch

Forget about the power lunch. These days it's all about the power latte.

With expense accounts on the wane and even the upper crust guarding their wallets, "Let me get the check" has been replaced with "Let's go Dutch."

Consequently, the schmoozers of the workforce have had to get creative with how and where they wheel and deal. Fine dining has been replaced with the corner diner. Crab cakes with cupcakes. Pot roast with a pot of coffee. A pricey bottle of merlot with a two-for-one manicure.

Looking for career advice? Click here to send Michelle your questions and they might end up as a topic for her next column.

If you, too, suffer from a dwindling entertainment budget, take heart. Meeting your business associates on the cheap doesn't automatically relegate you to the McDonald's drive-through.

Chi-Chi Settings, Cheap Eats

For some wheelers and dealers, the swanky setting is non-negotiable. But that doesn't mean you have to pay top dollar to eat, drink and be merry in style.

"It's cheaper to order a pot of coffee at the Four Seasons in San Francisco and share it with two other people than to order individual coffees at Starbucks," said Dhana Pawar, co-founder of Yojo Mobile in Mountain View, Calif., which develops mobile applications for women.

"I always prefer a nice hotel lounge because it's much quieter," said Andrew Reese, a recruiter with The McCormick Group, an executive search firm in Arlington, Va. "There's nothing worse than being at a Starbucks and hearing people call out coffee orders and the espresso machine running."

But Reese, who frequently meets with executives who make $500,000 a year on average, takes the hotel meeting one step further.

Before he attends an industry luncheon sponsored by the professional organization for high-level executives that he belongs to, he checks the RSVP list. If one of his prospects is attending, he'll suggest they take a few moments out of the event to meet one-on-one over that almighty pot of coffee.

"It's both time- and dollar-efficient," he said.

In other words, why pay for a cab or parking twice if you don't have to?

From Cupcakes to All-You-Can-Eat Buffets

Of course, not all networkers are married to the idea of holding their business meetings in luxe surroundings.

Pawar, the entrepreneur, takes her clients to Sprinkles Cupcakes in downtown Palo Alto for baked goods and -- you guessed it -- a cup of joe.

"I don't know of a single person who has a bad meeting after having one of those cupcakes," Pawar said.

Total cost per guest: $5. Putting a smile on your cupcake-loving client's face: Priceless.

Stephen Wayhart, principal of BrandMill, a marketing consultancy in Pittsburgh, has another take on the offbeat business rendezvous: He frequently brings his clients and prospects to the private German, Lithuanian, Polish and Ukrainian clubs and lodges he belongs to in his community.

Not only does the historic German club Wayhart frequents offer tasty, economical all-you-can-eat buffets, "the beer is outstanding," he said.

Even better, his clients and marketing partners eat up the ambiance of the 1888-built establishment.

Manicure, Anyone?

Still, there's no hard-and-fast rule that says you can't talk shop unless you break bread. Anyone who's ever brokered a deal on the golf course can attest to that.

Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...