Money Management: sometimes a latte is an investment

In a recent New York Times article, Damon Darlin advises graduates to save money by skipping the lattes at Starbucks. Make your own coffee, he says. You'll save about $2000 a year.

To read the article, you have to register (free):
New York Times site

I would tend to agree...except...

Freud famously said, "Sometimes a cigar is just a cigar."

I would say, "Sometimes a latte is not just a latte. Why are you drinking that latte? Who's with you?"

Depending on your answer, those $3 drinks may be an investment in your future. For example:

(1)You're sipping with the stars.

If your industry or company group hangs out at the local coffee shop, you're not just drinking coffee: you're gathering intelligence that you can use to advance your career.

Of course, if you get together to gripe and you're drained by negative energy, gossip and whining, you're losing a lot more than the price of coffee.

One small town business owner invested over $200 a month in coffee at two espresso hangouts. He was one of the few business owners who came by regularly to chat with the regulars and stay informed. His business was one of the few that demonstrated explosive growth in the downtown area.

(2) You're forcing yourself to get some work done.

Those who work at home know all too well: sometimes you gotta get out of Dodge. You're feeling enclosed by four walls. The refrigerator is way too tempting. And frankly, you're just plain lonely.

Drop the dog into day care and head for Uptown Espresso, Java Joint, Bean City...whatever your locale has to offer. Nurse a drink and work with the wi-fi. Cheaper than renting an office...and if you meet with a client, you deduct the coffee from your taxes (if your accountant approves - I'm not an expert).

Bonus: I've met several business owners who made better connections over laptops at Starbucks than at those $50-a-pop networking meetings.

I've also spotted corporate executives hiding out in the corner, ducking yet another dreary meeting.

(3)You absolutely, positively hate your job and your latte gives you a break.

When people hate their jobs, I advise them to find something to enjoy, even if it's just a picture on an office wall. Of course, I also advise them to get proactive about making some change. See
my free article on Ten Things To Do When You Really, Really Hate Your Job.

Sometimes you need to hang on because you need credibility, experience, time in grade, or basic survival funds. Looking forward to that latte may get you through the day and the week...and it's a lot cheaper than therapy. I'd also recommend that you join a gym: exercise is a natural mood-enhancer.

If you need the prescription version of anti-depressants, you get to discuss the meaning of lattes, cappuccinos and decaf with your therapist. Not me.

And if you choose the coffee shop for the taste, or you get your coffee in takeout containers, then I'm with Darlin, the New York Times writer. You're not investing in anything: you're buying coffee.

Networking for Career Change

Career advisors tend to sum up all their advice in one word: "networking."

Too old? Too big a resume gap? Bypass the hiring process through networking.

Inevitably my clients groan: "Networking? I knew you were going to say that. I hate to network."

Frankly, I don't blame them. The realities:

(1) In my experience, people who have strong networking skills will reach any career goals faster than people who don't.

(2) You need two kinds of networking. You can network for information and network for contacts. Sometimes one evolves into the other: you attend an industry meeting and someone says, "I've been looking for someone with your skills. Since you asked..."

(3) Networking for information means asking people in a field, "What do you do? How do you do it?" It's not about asking, "What would you recommend to someone like me?"

(4) You network for contacts by crystallization: starting with someone you know and moving outward. You find someone who knows someone who...

(5) These days it's hard to get an appointment with anyone who doesn't know you. And you almost always have to pay mentors. See
Mentoring for the 21st Century

Forget what you learned thirty years ago, i.e., People are flattered when you ask for information. These days everybody has read the Parachute book and they're more likely to be annoyed.

Energize your career by going live

When I lived in a small New Mexico town, I had lots of time to work on my business as well as my writing. There wasn't a lot to do in the evening and certainly networking was not an option in my small town.

Now that I'm in Seattle, I've launched a networking campaign. I started tentatively because "you're supposed to do this." Being an extravert, I now have to hold back. In fact, I just dropped out of a couple of groups.

My biggest surprise is the impact of networking on my Internet activity. Just being around lots of people changed my energy. My ideas are better. Because I'm in contact with my target market, I pick up their vibes. I wish I weren't stuck with some things I started in New Mexico: changing a brand and image has turned out to be harder than expected.

In her book The Artists Way, Julia Cameron wrote about the way creativity feeds on being with people. Although readers have become more skeptical about Julia Cameron's messages (especially if they read her memoir), her ideas are sound. Arists paint each other. Writers talk.

So when a business or career gets stalled, I now recommend getting out and talking to lots of people. Not the boring, dreary, must-have networking, but being around stimulating people and events. Not just shaking hands, but listening to live performances in theatres, concert halls and bookstores. Screens just don't generate the same energy, even if they're big.

Networking Tips From a Networking Event

When I first moved to Seattle, I was determined to get involved in networking. After four years in a small town in New Mexico, suddenly I had opportunities to meet prospects face to face. I loved meeting new people. And connections began to happen. But at first I couldn’t help wondering, “Will all this activity be productive?” Then last week I heard a talk by Zita Gustin. She gave us an exercise that you can try in your own group. First we shared with a fellow participant the answers to four work related questions. Then we answered a more fun set of questions. Where are you from? What television programs do you watch? What’s a good business book you’ve read lately? As Zita pointed out, we were all far more animated in the second exercise. It was fun and we discovered points of connection we never anticipated. Okay, you might have suspected some of mine: “I’m from Snohomish.” ”That’s where my dog is from! Her first owners found her in the SPCA up there.” Networking is an investment of time (and of course money and energy). Most people attend a meeting or two and then give up, saying, “Nothing happened.” But after weeks, months and years, and sometimes volunteering for committees, you begin to reap the real rewards. Over time, I’ve been greeted warmly in groups where I first felt unwelcome and out of place. Psychologist Stanley Milgram (known for his infamous obedience experiments) studied the way familiarity leads to liking. When you see the same people over and over – even when you wait at the same bus stop --- you develop positive feelings for them. Of course, I believe some networking events and professional groups are more valuable than others. Some groups have invisible barriers that keep new members at a distance. In a few dog-eat-dog fields, networking won’t be productive. In some locations, you won’t have opportunities to network productively. When I work with clients, we discuss targeted networking strategies that will most likely lead to success. But generally, if you’re ready to make a change, go hang around with some people who are doing what you would like to do. Just have fun with them and stop if you don’t. And often the best connections get made in the most unlikely places…even just because, “We both have dogs.”

Networking: You never know...

Last night I met a young woman who needs a new job. On the surface, I seemed to have no experience or contacts. But as it happens, my neighbor found a postition in her field, following an intensive job search. The next day I got permission to give my neighbor's contact info to the young woman. Who knows what will happen? The point is, connections wiill surprise you. Get the word out, everywhere!