He said: "You cannot believe the amount of business I pick up for the bank!  Someone will say to a friend: 'See that guy on the stool?  That's Phil. He's the president of the bank!'  The friend will say: "Wow!  He is the president of the bank and he eats at the same places as me. He must be a regular guy!"  I am going to go over and ask him about a loan for my business."

The bank president spelled out the rationale: "You would think senior executives eat lunch in fancy restaurants. They don't because it takes too much time. You would think they eat in the executive dining room. They don't because they don't have one."  Why don't they eat at their desk?  Too many interruptions. They eat out at neighborhood places where they can be served fast.

He added another observation: "It isn't always easy to meet new people at the country club. There are too many social barriers. At a local luncheonette, everyone tends to know each other. It's a very easygoing atmosphere."

The evening version

This strategy is not limited to lunch. The TV series "Cheers" features its famous Boston bar "where everybody knows your name."  What type of clients are you looking for?  Do engineering firms qualify?  How about law firms or dental practices?

Do you stop off for a drink before heading home or catching your train?  Pick a tall building in the center of town that is filled with the type of small firms you are seeking. Business incubators and shared work space operations might qualify, depending on your type of prospect. There should be a bar or tavern on the ground floor. If not, there should be one in the next building.

Become a regular. Arrive at the same time after work. Sit at the bar and watch the game on TV. Make conversation about the game with the people sitting around you. You should quickly get accepted as part of the group. They will draw you out, asking "What do you do?"  You will get to know everyone. Like the luncheonette venue, when people think they have a need, they will start to ask questions. You will get to know them and can draw them out too, but you must be tactful.

There are reasons why insurance and financial service professionals eat lunch at their desks or go out to lunch together. They are missing a business opportunity. Don't make the same mistake.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, "Captivating the Wealthy Investor" is available on Amazon.