Entertainment (Photo credit: vagabondblogger)
There is a lot of talk around the water cooler these days about acceptable entertainment for traders to take their clients for relationship building. One award- winning example of entertainment failure goes to Andrew Kearns. This senior trader from Glencore Commodities attempted to sue his employer for wrongful dismissal after some sketchy client carousing lasting into the wee hours of the morning. He missed breakfast, lunch and a series of important meetings in Singapore. Is this acceptable behavior? I think not. If he could have pulled off a night of intoxicated insanity and still made his meetings, he would probably be well known as the king of schmooze, and land some of Wall Street tycoon.
We understand the delicate art of adulation. Entertainment may be the best way to keep the clients happy. I am certain that a few Jaeger bombs sure would soften the blow of signing a million-dollar deal, however, what about the question of integrity. What is the other side of the proverbial coin when it comes to closing the deal? There are plenty of ways to butter up the possible clients. If the client comes to you, you could show them a great time at a professional ball game, a classic car show, and even some wining and dining at your favorite five star restaurants. If you are looking for high class, perhaps an art museum or high priced fashions show. Show them the culture of your beloved city.
In the world of trading, you must be at the top of your game, and the right strategy for sealing the deal can be difficult. Instead of chancing your livelihood with an all night intoxicated carousal, endeavor to grasp the integrity of your reputation and the reputation of your company by treating your clients and colleagues with respect. I am certain they will in turn hold you and your company with high regards. If your strategy does end with a few shots, a beer or margaritas, just make sure you can hold your liquor.