Most personal finance gurus would advise people to skip the latte because it costs a lot of money. Though it may not seem practical for some to purchase quality coffee every day, here are some instances why your coffee shop trips are actually good investments of your time and money.
Meeting a business contact to build rapport.
Buying coffee for your business contacts is a great way to get to know them outside the business setting, which can make it easier to work with them on upcoming projects or any collaborations that you may want to informally pitch first.
You can also invite potential business contacts for coffee when cold-emailing them. Together with a clear and concise e-mail, an offer for a coffee meet-up, can result to a connection opening up their network to you. This would make your coffee investment pay off a gazillion fold, according to Frances Bridges in her article at Forbes Magazine.
Talking to your mentor about your career or business.
You may find the cup of coffee a bit costly but the insights you’ll get from your mentor over a cup of coffee are invaluable. The consultancy and mentorship that you will get with them should actually cost you a lot more than a cup of coffee.
You can set a meet-up every quarter to catch up and get his / her insights on career or business moves.
Meeting your friend who you haven’t seen in a long time.
You will always need breaks from work to destress and perform at your prime. What better way to do this than by meeting up with a friend you haven’t seen for 3 months up to years?
The value equated to this is not set in stone but basing on the effect that this has on your work dynamics, this is an investment that could reap great returns.
Attending a networking event at a coffee shop.
Li Ka-Shing, a Hong Kong business magnate, advised that in the five portions of your monthly budget, one must set aside funds for meeting new people and making genuine connections with them.
Some business or leisure networking groups in the metro such as The Business Book Club and CAFE Life Philippines usually gather in a coffee shop with members paying for their drinks and meeting new people.
Aside from meeting people with the same interests, this is a great way to indirectly build business contacts.
Choosing to spend your money wisely
Be wise on where you allot your budget. A coffee meet-up might seem expensive at the onset, but in the long run, it can actually give you the return on investment for your career or personal goals.