Spending Power

One of my former clients was a famous entrepreneur who built a multi-billion dollar company and was friends with Steve Jobs. We got to be good buddies, and he'd regularly fly out his plane to have dinner with me in Portland.

Whenever I was in San Francisco, he insisted we grab dinner together. It was pretty cool, as the man had an insane wine collection and always brought an unbelievable bottle to our dinner. Not surprising. But what blew me away was that we'd always go to the same restaurant. He also told me it's the only restaurant he goes to for dinner.

That blew me away. You have $100mm+ in the bank and always eat at the same restaurant?

I asked him why?

He wanted to concentrate his spending power.

By going to the same restaurant (let's say once a week), he got the best experience imaginable. Everyone knew him. When he walked in, he was greeted by name. They knew what he liked. He didn't need a reservation. They always found a table for him. Usually, it was the best table in the house.

A decade plus later, I am in the same boat. I like going to the same couple of restaurants. With both of my favorite restaurants, the managers are good family friends. When we walk in, we're greeted by name. They know what we like and, even more importantly, what to do and where to sit us when they see our daughter in tow. We get a world-class experience, are appreciated, and I always feel good paying the bill.

Bundling your spending power doesn't just apply to restaurants, by the way. We also have favorite takeout places, bakeries, fly fishing shops, hair stylists (not talking about myself here), and even mortgage lenders.

Bundling your spending power is under-appreciated. And novelty is overrated. When you find something you love, I encourage you to stop chasing.

Bundle your spending power and enjoy one of the most powerful aspects of the human experience.

A genuine connection.