Private clubs and social prospecting

Private clubs aren’t nearly as exclusive as they used to be. But if you belong to one you know what hasn’t changed: you are surrounded by successful people and old money. Can you prospect?

Strictly speaking, you can’t. Most clubs forbid discussion of business on their premises. But to excel you need to be visible: people need to know who you are, what you do and why you are good at it. Here are some useful strategies based on interviews with members of private clubs:

• Cultivate bartenders and the dining room captain. They know everyone, so don’t treat them like servants, as some do. Be a generous tipper and treat them as peers. If you treat them well they may show their gratitude by discreetly pointing out new members and providing background on them. They may also put you on their list of people they suggest new members meet.
• Be friendly to everyone. At social events friends usually sit together and it can get cliquish. If your response card has a seating preference option, select “Seat me anywhere.” This will likely bring you together with some of the new faces.
• Get people asking about your business. Advisors are used to asking people what they do for a living. But this approach can come off as intrusive in the private club world. Try instead to induce your bar mate to do the fishing: take your seat and remark on how nice it is to finally have a chance to relax after such a busy time at work. The natural response is to ask what line of work you’re in, which gives you the “in” you need to explain what you do.
• Serving on committees. Most social clubs have several committees staffed by volunteers. The best choice for an advisor is the finance committee because it gives you an opportunity to showcase your trustworthiness, integrity and prudent financial skills.
• Be a center of influence. You want to cultivate a reputation as someone who helps others. If a member at the club is between jobs, connect them with someone in their industry who can help. If they land a job with your help you may find retirement assets from their previous position flowing your way.