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- Thread starter SoapyCy
- Start date
Kinda depends on the industry you are in?
25 years ago in the pharma world it would be taking doctors to Hawaii or on your boat in the ocean fishin etc...and it was a race to see who could spend more and get the business..Today however, zip, nada, nothing....can’t do any of that now or you go to jail for a long time.
Nothing wrong with providing a business lunch now and then to get to know you clients... like I said it depends on your industry and what the rules are on those things..
Yeah, depends what you sell. We take clients golfing quite often. It's a great way to get to know them on a personal level.
Totally depends. I have clients who go on hunting and fishing trips with me and then others that give me a $5 bill if I show up with donuts. My industry has changed dramatically in regards to entertainment though. Golf outings with “attendees” at each hole are a thing of the past. IMO, if you have a good enough relationship with a customer, you will know the responsible level of entertainment. I’d always waver on the side of caution for potential customers.
Attendees at each hole? Did you ever play more than 1-2? Seems my wife would be mad if she ever found out.
Been offered tickets to ISU games, suite at the timberwolves, a few other events. Always get into a tent at ISU games for free supper and drinks. Some other things also like company coats, yetis, folding chairs and such.
Strip clubs could be a home run or blow up on you. I honestly wouldn’t be one that would attend so it would be a waste with me.
Strip clubs could be a home run or blow up on you. I honestly wouldn’t be one that would attend so it would be a waste with me.
No prob, I can occasionally tolerate the lumberyard but you and your thunder down under obsession is something I won’t participate in.
This is something that was legal in the past, but can no longer be done as a business expense in the new tax code. Which is a positive change in my opinion because it was being widely abused.
Now just because it is no longer deductible as a business expense does not mean it may not be a good idea to appeal to new clients.
Advertising bills got bigger, that is why logo'd stuff is handed out.
Branding is important for every business, or are you talking about sponsorship of events and things of that nature as opposed to pens, shirts and hats.
Or are you more saying that the companies are just giving freebies to these people to win their business now?
Worked for an Ag chemical company in the 70’s. Was expected to be overnight 80% of the time. Expense report better have lots of entertaining- dinner, booze, golf, fishing etc. Every year a fishing trip to Canada and trip/cruise for best distributors. Those days are gone
Corporate was not about to help farmers during the crisis of the 80’s. Their bottom line was all that mattered
Corporate was not about to help farmers during the crisis of the 80’s. Their bottom line was all that mattered
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Giving freebies to win business. Companies will give you free leases on equipment if you purchase enough product. They just jack up the price enough to offset it.
Slap your logo on a car and let a customer drive it around. You deduct it as advertising.
Man, this thread makes me miss Houston, what with the skybox tickets to Astros, Rockets, and Texans, along with tickets to the rodeo every year...
CycloneErik
Well-Known Member
Mr. Cyched, I am not going in for your backdoor shenanigans.
Sure I'm flattered, maybe even a little curious, but the answer is no.
The #1 rule of selling is this: People buy from people they like. (If they like you they'll find a way to buy from you. The converse also holds true.) If you're commission-based sales set aside a couple percent of what you make in a year and use it to entertain or create experiences with your clients.
If you're designing one person's house then, no, you might not entertain them. But if you're an arch firm working on an entire development or if you're an arch firm who does retail chains (Target, Kroger, PetSmart, AutoZone, BestBuy, etc) then you better be out entertaining the decision makers and influencers.