Trending
My wife and I give back to the community through involvement in a local nonprofit. Friday night was our annual gala. The event was a sellout at $250/head. We had a waiting list. My eliminating the dance floor we were able to fit more tables. It was a success.
From the point of view of networking within the HNW community, here are ten observations:
1. There are many opportunities to showcase yourself. If you serve on the committee, you often have a voice in who sits where. You can be soliciting local businesses for event sponsorship. At least one silent auction item involved professional services. We bought the Will and Estate Planning package. Last year we bought the Landscape Design Consultation package. Even showing up for cleanup the next day helps give off a good impression. If you are involved, volunteer. It takes you beyond the role of an attendee.
2. People expect good wine. I am amazed charity events will stock top shelf liquor at the open bar, yet sometimes they attempt to save money on the wine served during the meal. Feedback in the community takes many forms. If you serve good wine, that gets around.
My wife and I decided to volunteer to underwrite the wine served at the seated dinner. This gave us control, since we were paying. We were thanked from the podium during the welcome. People came over to our seats during dinner to thank us.
3. There was a preparty for $100 more. We skipped this additional event. Guests paid $250 to attend the gala. For an additional $100 each you could come an hour earlier for an additional party. This has less people, so it is more intimate. If you want to network, this is the place to do it. Everyone is in a good mood. You have two networking opportunities, one less crowded than the other.
4. The cocktail hour has abundant opportunities to mingle. The main cocktail hour lasted…an hour. That is a lot of time where you can be keeping your eyes open for friends and people you tend to only see at other galas. My wife and I tend to split up, so be connect with more people we haven’t seen for a long time. The groundwork for planning future dinner parties starts here.
5. This is the place to meet someone influential. Attendees don’t know who all the other attendees will be, but they can look over the list of sponsors and be confident they should be present. You should see most board members too. When you look over the list of live and silent auction donors, many of them might be present too. If there is a high profile local business owner you want to meet, chances are good you will find them at one or another of these galas.
6. The Congressman and the Capitol tour. Our local US Congressional Representative usually attends. On this occasion, he was needed on the floor for an important vote, so a senior member of his staff attended. He donates a personally guided tour of the US Capitol and the opportunity to stand on the floor of the Congressional chamber. They can also help arrange tours of other Washington landmarks, but the Congressman is not along with you for those. They auctioned off one tour and offered the underbidder the same, if they would step up to the higher bid. Can you see yourself visiting Washington, meeting your representative in Congress and being shown around? Who else would you bring along with you?
7. Some people have no one to talk to. Seating isn’t perfect. Sometimes people don’t show up because of illness or conflicts. Sometimes people at a table don’t click. This presents an opportunity to either be walking round during a slow dime between courses or simply change seats at your table and sit next to them. It is sad when you see two people with no one ta talk to. It’s an opportunity to be compassionate.
8. Vacation travel is a safe topic. The couple to my left was interesting, although the acoustics could have been better. The silent auction included several vacation packages. They had bought a couple. This brings up the opportunity to talk about vacation travel. You can be on the giving or receiving end of information. Vacation travel is one of those “you are one of us” signals within the HNW community.
9. Energy and optimism is high. The weather might have been bad all week. The world might be in a mess. The stock market might be down. Like in the Broadway musical Cabaret, “In here, life is beautiful!” Everyone is dressed well. They are connecting with old friends. They are sharing an interest in supporting a common cause. You are making your initial connections while people are in a good mood.
10. The press covers the event. The publisher of the local paper and their photographer were present. This is another reason you want to show up early in the evening. The editor might have been there too. This is an opportunity to help them connect a name with a face. You see who gets grouped together for photos. When you make friends, you might get brought into the photos too.
11. People you meet here can open doors elsewhere. People rarely limit their charitable support to one organization. There is a spring and fall gala circuit. You see a lot of the same people at each. They can make the case for joining another organization, attending their free and also their paid events. If you attend, you will know someone.
12. The parking valet station is a great place to reconnect. These events often feature valet parking. This is another reason you want to carry small bills. The line gets longer. People are standing around holding paintings and packages from the silent auction. You might see someone you wanted to connect with but could not get close to earlier in the evening. There is a lot of standing around as cars are brought up. By admiring paintings, clothing or items they are carrying, it is easy to start conversations.
For veterans of the gala circuit this is second nature. If you are starting to use this avenue as an entry point into the local wealthy community. The opportunities are easy to spot.
Related: What Clients Expect From Advisors in Uncertain Times