A friend was recently explaining his approach to flying; always fly first-class. I was of course incredulous, being the guy that hates spending more than $2.00 on a cup of coffee. After saying that I thought this was generally a bad idea, he disagreed and said:
You never know who you are going to meet when flying first-class. From the contacts alone it is well worth the cost.
My analytical side would argue that from a pure numbers perspective, it doesn’t work. What is the chance that you will sit next to someone who has a direct value back to you? It can’t be that likely. I would rather save money on travel.
Though, my friend does have a point. Which is that it is important to spend money in the right places. Flying first-class works for my friend, who also has a startup. I don’t know if it works for nPost…
Where is it important for you to spend money? Is it all on development, advertising, sales or all of them? What are the unlikely avenues that work for your business? As flying first-class does for my friend.
About nathan kaiser
Eh. I’ve heard this argument too, but it doesn’t fly to my efficiency consultant mind. If you really want to spend money on networking, shell out for access to the Crown Room or its equivalent on your preferred airline, get to the airport really early, and make friends over coffee.
I’ve flown first class multiple times for various reasons (none of which were “network”) and never even shared a hello with my seatmate, but I’ve scored two clients from coach. You’re only next to to one person in first class, versus the opportunity to talk to two in a coach seat. Today 1st class is emptier and emptier, so you’re more likely to sit next to someone else who was upgraded. Further, I know millionaires who are great businessmen and always fly coach because the cost for an extra few inches of space and a “free” drink are exorbitantly out of line. Millionaires don’t make money by spending it.
There are tons of ways to network, but flying first place puts a significant pricetag on the mere chance that ONE person will be a good business contact.