Alec Hartmann is the co-founder of TechDay
So you've decided to invest to attend a trade show? Good news. You put aside critics who said you SHOWS are too noisy, too crowded, too expensive, too difficult to calculate the real return on investment, or all of the above, and you and your co-founder traveling in New York, or Austin or Las Vegas, or a convention center to wheel and deal. We thought that we provide some tips on how to make the most of your time.
Now what?
Do business with 5,000 people
Momentum by TNW is our technology event in New York for anyone interested to help their business grow.
Regarding the events, the founders have many options, but limited funds. Every dollar must be taken into account and linked to a return on investment, so that the participation of the event should be a calculated strategy for your business - one where you do extensive research participants want to meet, what to talk about with about them, what results you want to achieve and how to follow.
If you do not have a strategy to walk in an event, you will never achieve the ROI you are after.
As founder myself, and over the last four years of production TechDay, I was able to abstraction a good amount of information of our exhibitors. Like most founders to calculate the ROI on the number of meetings they have during a show, I always ask them, "What were the most valuable connections you have made and how did you make?"
As you can imagine, the key connections tend to be in the public that help startups prosper :. Investors, potential users, press, or talents
So I gathered a small guide on how to talk to each group during trade fairs.
How Venture Capitalists speak
VCs care deeply about their investments. They care contractors they work with the partners that they are accountable to, and market their portfolio companies serve. That's why they want to connect intimately with the founders and directors of each company, they can invest in.
Unfortunately, building the kind of relationship that translates into an investment is extremely unlikely in a first meeting - especially at an event with thousands of people. So in order to make the most impact first meeting - and get a follow-up meeting, entrepreneurs should focus specifically on VCs give a strong insight into their business and quickly
.Our recommendation is to stick to the fundamentals VCs care about most: (1) the issue, (2) how you solve the problem, (3) why your team is only able to solve the problem, (4) what stage your business is at, (5) the traction power that you have, (6) the resources you want and what you can do with them.
How to talk to angels
Angels are different VCs. Often these are wealthy individuals who only have limited experience of formal investment. This means that the way they look an investment could be opposed to a VC. It is also important to note that they do not have the partners they are responsible to and therefore risk tolerance generally higher.
Angel investors are interested in passion with entrepreneurs to invest in most also -. Because of their origins as the operators themselves -. Have increased sensitivity for entrepreneurs who have a sense of actually running a successful business
Our recommendations when talking to angel investors are: (1) provide a brief overview of your founding story and why you you care about what you do, (2) a summary of your credibility as a business operator, (3) an overview of the reasons why there is an opportunity in your market and how you intend to fill it.
How to talk to the press
Like VCs who have responsibility for their partners, members of the press have a responsibility to their readers, viewers and listeners. They want to deliver impactful, new tip that can affect people in big ways. Just talk to a company's product is not necessarily what is most meaningful to their audience.
When you talk to members of the press, we recommend that you: (1) talk about their public, (2) if you are familiar with the interests of their audience, provide subject matter expertise (3) about your current product - note :. Future iterations not - and how it will impact people
How to talk to potential employees
Employing people is one of the most difficult aspects of running a business. Although it has been said by any entrepreneur ever it does not make it easier. There are so many dimensions to a person, so much responsibility to a position, and these few glimpses of insight into the future for most startups make a decision on the long-term adjustment is always difficult.
When you first connect with a new potential location - especially in a fast paced environment like a trade show, we recommend the doctrine You should: (1) about the reason "honest excitement." why your founding story is so exciting, (2) why your startup is not just a product but a genuine long-term business, (3) what are the real responsibilities from day to day are the position you to recruit, and (4) which would completely exceed expectations.
Remember, employees are both the same and different expectations than you do - they want to be part of a small team that makes a difference, but they also want security and happiness
.How to talk to community members
There is often a consideration underestimated, but talk to community members who do not benefit immediately you is extremely important. Shows - good - should be specifically designed to support the community, welcome new members, and highlight a large group of people for evangelizing the other rather than a few people with the same request shouting regardless of
resources.When talking to members of the community, we suggest: (1) get into the mood of confidence to meet new people, (2) this why your in this event, (3) to give honest people your application and tell them that you can use help, and (4) seek to meet people you can help. Remember to try to give as much as you ask.
Conclusion
No matter who you plan to speak, set expectations for what you want to accomplish. Often we hear objectives such as:. "I'll talk to 10 VCs" It is not the purpose most people are really after Make significant connection with a VC, angel, or anyone who can give you. warm introduction to a perfect fit VC is more comparable to what you need.
whether with or attend, be prepared. Understand your key audiences, anticipate their questions, practice your talking points, open to opportunities potential that you have not seen before, have a plan for what you expect of yourself.
Whatever the size and attendance of the show, obtain financing, press or hiring n is not a numbers game - it is about building relationships over time the best way to make these relationships is to have fun, be authentic, and embrace the community
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