Person A: “Hey, you wanna meet for coffee and discuss how we can support each other?”
Person B: “I’m sorry Dave, I’m afraid I can’t do that.”
(BONUS points to whomever remembers, and comments on it.)
First of all, I don’t like coffee, think what you may.
Second, it’s too expensive.
Did You Know That A “Quick Networking Coffee” Can Easily Cost You $1,500?
Let’s say your hourly rate is $500.
(For some of you, it might be $5,000 – but for now, let’s keep it simple.)
One hour of time total lost in ramp-down before you head out, and ramp-up after you get back to the office.
This is backed up by studies, such as one I featured in my book from an article called “Worker, Interrupted: The Cost of Task Switching” by Kermit Pattison, which I quoted in Groundhog Day is an Event, Not a Business Strategy, as well as on some episodes of my Business Creators’ Radio Show.
Pattison’s article cites studies that show something as simple as grabbing a quick phone call can cause you to need 23 minutes and 15 seconds to get back to whatever you were doing before you took that call!
Then you have 30 minutes of round-trip travel time – IF the coffee shop is close by, there’s decent parking, and you don’t run into yet more road construction
Hopefully the meeting only takes 90 minutes, but you know how it goes between waiting in line for the coffee, the 20 minutes of “did you find the place okay”, and everything else.
3 hours total x $500/hr = $1,500.
Yikes.
Meanwhile, You Can Brew A Whole Pot Of Coffee At Home For About $1.03.
Furthermore, with studies such as one conducted by Vouchercloud, considered by some to be the UK’s largest money saving brand, showing the average working person has 2 hours and 54 minutes of productive time per 8-hour workday.
That could mean your whole day is shot.
Wow.
Launching Your Podcast And Interviewing People Actually Pays Off!
Stack up that $1,500 and three hours you lose, against the hour (or less) it takes to have a conversation you can have from the comfort of your home or office.
Add on the literally few minutes it takes to edit a recording created using the Pre-Editing Process and Mindset that’s part of the Podcast R.E.A.C.H. System.
Then a couple bucks’ worth of time (or invoice) to post the episode (or delegate someone else to do it).
Your guest will get an introduction to new prospects.
YOU will get an introduction to new prospects.
That’s because with a podcast episode, both you and your guest will promote the episode and gain marketing benefits from that same conversation that otherwise never would have made it out of the coffee shop.
Oh, and is the person you’re meeting with more likely to support you (and/or hire you) after you’ve amplified them and given them reach on the front end?
THAT is how you exponentially reach more profitable customers!
