Why I Spent Over $150,000 Last Year on Parties
Those who know me, know I like to party. While I may not be smoking weed anymore, I can still kick it with the best of them. Actually, since I quit smoking, I have the energy to go even harder now! Last year, I spent over $150,000 on parties, fancy dinners and events. It wasn’t all fun and games, though. I actually had a plan to make money from every single instance.
I learned from one of my mentors to personally connect with those you plan on working with.
One of the things he taught me was to invite prospects I wanted to coach to dinner with me after events. This takes them from the public setting of seeing you, to the private setting of getting to know you. It gives them a chance to meet me off stage and make a clearer decision if I’m the guy they want to work with.
One of the parties took place in Miami last year. I spent over $30,000 on an event for roughly 50 people who were in my high-end mastermind. After the event, I took a dozen or so of those clients to the top nightclub in Miami for bottle service. Now in case you don’t know, Miami nightclubs are the hottest in the world. Bottle service, a security guard, and table cost me over $5,000. Although the music was loud and we didn’t talk much, I connected with those clients and made many of them lifetime clients. Each client is worth $30,000 per year to me, so spending $35,000 to make over $100,000 AND partying was a good call.
Another party took place in Dallas, my hometown.
I rented out the Union Station for another $30,000 and invited 300 of my best prospects to attend an event there. I invited some of the best speakers I could find, like Marshall Sylver, Chris Record and Katrina Ruth. After day one of the event, I took 12 people out to dinner at the Dallas Chop House and dinner was $4,000 for us. From that event alone, I made over $200,000 gross profit.
To the outside world, it may have looked like I’m just some party animal, but in truth, I have plans and a strategy for everything I do. Taking prospects and clients out to show them a good time is all part of my process and by looking at the numbers, I’d say it works.
Last year, I was still smoking so I threw a mastermind event in Denver for about 20 of my best clients. We met in the Mile High City and spent two days masterminding and sharing strategies and stories with each other. After day one, I took everyone out to dinner. I can’t remember how much dinner and drinks were but they cost somewhere in the multiple thousands. Still today, most of the people in that room pay $30,000 per year to be a part of my programs.
Who says you can’t have fun and make money?
Many times we think business has to be 100% professional and the only time to cut loose is when you’re photocopying the secretary’s ass during the annual Christmas party. I’m here to tell you that you don’t have to wait for the holidays to throw parties for clients and employees. As long as you have a plan to profit, you can party with your people whenever you want. I include this strategy in the lifestyle I like to live.
Last year, my top salesman and I bought a wake surf boat. The boat cost around $125,000 and we take clients out on it all summer long and entertain them. We like to surf but we live in Texas, so we bought a boat that allows us to do both. When we take our clients out, we teach them to surf and cheer them on as they get up. It creates a bond that most mentors and coaches don’t ever have with their people. I’ll take the best of both worlds any day!
If you’d like to be a part of what I’m building and be on the insider’s list of where our events are and how you can be a part of them, join our Entourage program by going to www.bfaentourage.com You’ll be in the know about every event, party and dinner I put on. Join us, let me change your mind and your life.