Businesses, whether solo startups or massive conglomerates, run on data. Data on customers. Data on competitors. Data on supply chains. Data on data acquisition! Information is the abstract currency by which a business accrues real currency.
And all too often, folks interested in starting a business, or even long-term veterans with multi-generational businesses, will go about collecting their intel from a network of emails and infra-industry market tests.
And there’s nothing wrong with that. In fact, you should do that. It’s just not all you should be doing.
Just as there is no substitute for experience when it comes to understanding how to perform a task, there is no substitute for in-the-field data collecting when it comes to adapting to changes in the market or understanding what your market should be for a new product or service.
And one great way to learn these things is in conventions/expos/trade shows. Why? Because they tend to be ground zero for competitors, allies, and customers in whatever specific category or niche that your startup/business/idea happens to fall into.
If you have a new product/service; it’s the greatest place to do some market testing, or even beta testing.
If you want to meet partners/investors/licensees…you’re more likely to run into them there and have a segue to an organic conversation than you would by cold calling, emailing, or schlepping around the mall where you know one of them frequents.
If you want to see what future innovations have in store for your niche or what your competition is up to…it’s an ideal place for that as well.
By all means, do some online research. Do some segmented marketing campaigns. Make some cold (or warm…or hot) calls. But always remember there’s no substitute for in-the-field experience.
And speaking of in-the-field: If you are an aspiring inventor and/or entrepreneur, the ROI for Inventor-Con is in the hundreds of dollars, but entry is a mere 10USD. 30 speakers in 3 days. Check the roster for more details on the speakers.
