Still significant in building relationships.
Author | DuBay, Keith |
Position | Business Golf |
THE NUMBER of golf rounds played has tapered off by roughly a fourth from the high in 1988 due to the Great Recession and a variety of other reasons, bur don't tell that to business people. Golf remains an excellent way to foster business relationships.
"Golf absolutely fits into my business strategy, but it doesn't feel like work, which is what makes it so successful," said Russ Petrin, first vice president-wealth management with Morgan Stanley in the Tech Center. "I've met new clients and enhanced existing relationships doing many activities I enjoy, like pheasant hunting, hockey and tennis, so my advice is to do what you enjoy."
Golf is different from those other client relationship-building activities because it provides an opportunity to get to know someone's personality over a four-hour time frame and through potentially frustrating circumstances, Perrin said.
"There's a big difference between the client who shrugs off the missed purr versus the 'gentleman' who gets so furious he throws the flagstick like a javelin off the green and into a bunker. I've seen this and wisely didn't pursue him as a client."
For Debbie Waitkus, golf is not only a tool for business; making golf a business is also a business for her. She operates a corporate meeting and development business in Arizona called Golf for Cause (golfforcause.com). The company's philosophy is to turn "golf into gold by driving better business opportunities through the world's most popular game."
" It doesn't matter how well someone plays or if he or she plays at all," Waitkus said. "What's the best way to use golf to do business? Sharing it with others to forward a relationship. Shared experiences are key, whether it's playing with someone or talking about a golf experience. Golf is the bond that creates common ground and breaks down barriers."
Waitkus also believes that you can use golf metaphorically to achieve results in your business. The metaphor goes like this: Everything you do has a before, during and after, such as a backswing, contact and...
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