February 22, 2010

The Art Of The Lunch Meeting

How many lunch meetings will you have this year? If you are like me, dozens. In fact, many of our first meetings with people (new or old acquaintance) are over lunch.  

This is especially true for entrepreneurs and small biz types. In many cases, the reason we are offered a lunch meeting as opposed to an office meeting is that we are an "extracurricular," not yet established as a core-business partner. For all they/we know, it's just a chance to catch up, socialize and explore the possibilities. 

For me, lunch meetings are the culmination of networking and partner prospecting. If you get the lunch right, you'll be having your next meeting at the other's office -- and you have actually do some business together!  Why don't we have training for lunch meetings? 

After all a meal is an obstacle course we have to navigate.  The service alone poses a set of interruptions, usually coming at the worst possible times. The server comes back three times to see if you are ready to order, then finally you randomly pick something to "get rid of him/her."  Next, the food shows up and your dialogue must stop to eat, or even worse, you talk until your meal partner's food gets cold. Then there's your meal: Just as you get a bite in your mouth, your meal partner asks you a question. 

The next obstacle is the table, full of dishes and condiments. Where the space for your laptop (to illustrate points with slides, charts or pictures)? Where is the space to write ideas down? Where is the space to show paperwork?  

You can't change the realities of lunch, but you CAN adapt to it. Last week, I had an important lunch meeting about a potential business opportunity, so I created a plan to make it as effective as possible. It worked so well, I thought I'd share it with you. 

1. PREPARE FOR THE SITUATION - That morning, I outlined what we'd talk about on my whiteboard. I thought of the beginning (The Premise), the main course (The Promise) and the desert & cafe (Action Items.) Since lunch isn't the ideal biz-meeting place, only prepare to talk about a single issue/opportunity.  Two is one too many!

I created a single page document that outlined everything in bullet point form. The top half of the page contained the Premise and Promise of the idea. The bottom half the page contained details, back of envelope math and a Phase 2 (the upside.)  This way, I brought two copies of this one pager with me, folded in half, just the size of a daily special menu. This makes it easy for both of us to review at the same time.  This solves the time constraint (<1 hr) and physical constraint at the same time. 

2. PICK YOUR CONVERSATION SPOTS - Much like comedy, great lunch meetings are a function of good timing. Here's the meeting schedule, taking into account meal service and dining. 

   *  Seating/Menu/Ordering - Don't dive into conversation the second the host drops you off with menus. Make your decision, your partner will follow.  Keep talk social until after the server takes the order. Now you have a small window of time before the salad comes.  State the premise, give your meal partner the folded outline, and lay out the promise of the idea.  Let your meal partner react around/through salad (while you eat and listen). 

   * Eating - If possible, listen and/or eat during the meal. Remember, your partner wants to eat too and will likely follow you.  Patiently wait until the plates are up before diving back into the details. You can juggle objections or clarify until the bill comes.  

   * Settling - After the credit card floats away to pay the bill (you picked it up, right?) you pull out your pen and make notes of mutually agreed upon action items.  (Bring a second pen for your partner.) Don't go back to premise/promise, focus on "what's next." Nothing is an OK conclusion too.  At least you are now in his/her social stream.  As I've said before, your friends may not have all the opportunities you need - but THIER friends do! 

3. Follow Up - Later that afternoon, send an expanded idea sheet (up to two pages, incorporating comments from lunch.) Suggest a meeting the following week ... in the office.

Posted at 9:20 AM in Business Effectiveness  |  Permalink  |  Comments (5)  |  TrackBack (0)

Comments

Commentor

I follow you VIA GFC and I love your blog!

Posted by: Timberland Outlet online  |  December 17, 2011 at 12:32 AM

Commentor

At least with a regular office meeting, people get the protocol... introduce, present, discuss, etc. People find a lunch meeting unsettling because of the protocol is different. It's important to be less formal here - relax, and through it all, enjoy the lunch.

Posted by: Clinton Harvin  |  May 23, 2011 at 12:17 PM

Commentor

Hi Tim,
Why lunch is better than just coffee? Please elaborate

Thanks

Posted by: Dror Engel  |  February 25, 2010 at 05:01 AM

Commentor

Hmmm... In France, the conversation is generally informal throughout the meal. When the food actually arrives at the table, everybody shuts up and concentrates on eating (Who wouldn't??) or talks about the food. All business is left until after the dishes are gone and we have coffee. But then their lunches are 2 hours so they have time. I guess in America it's rush, rush. Oh well.

Posted by: John M.  |  February 23, 2010 at 06:12 PM

Commentor

Nice lesson on adapting to the situation, since you're certainly not going to change it. Do any other business interactions like this, that aren't particularly conducive to conversation, and difficult to manage, come to mind? A similar playbook for each would be great.

Posted by: Eric Ast  |  February 22, 2010 at 05:42 PM

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