When you establish a new venture, the initial thrill of starting something new is enough to inspire you to better your trade. However, after a while in the business the risk of monotony setting in is high, which gives rise to stagnation and hinders the growth of your organization. This is the reason why most small businesses that start-off with a bang tend to lose focus after a few months of success.
You can counter stagnation in your organization by being an active member of trade associations and attending business events and trade fairs, which can bring many benefits to your business. Since there are plenty of business events organized all through the year, deciding on which ones to go might get confusing. Here are some ways to help you judge if the event is worth attending or not.
1. Identify all the upcoming business events: Even though attending trade fairs and events is the best way of networking with prospective clients and partners, for a businessperson being away from office every few days is not a possibility.
Hence, it is best that you begin by identifying all the upcoming business events and trade fairs organized around the world. Social media and other business connections will come in handy while doing this. Once you jot down all the events, quickly categorize them by type: business conferences, trade fairs, seminars and sales opportunity.
2. Importance of the event: Once you have the list of all the upcoming events, you will need to decide which ones are worth attending. There are two main questions you need to ask yourself before making the decision – a. Does the event have the ability to bring in business? b. Will it help me improve my skill set?
3. Cost: Another important factor to consider while making the decision on attending an event is to calculate the cost. Since business events and trade fairs are held all over the world, attending all of them might not fit in your budget. Calculate the flight rates, accommodation and the event entry (if any), and decide whether the event is important enough to spend the requisite amount.
4. Time: In any business, time is equivalent to money. If it is a day or a weekend event it might not be a problem, but many events go on for a week. Think about how much time you are willing to be away from your office and if the event is worth the time spent away from work. Consider all these factors before you decide which business events to attend.
These events are definitely one of the best ways networking with other entrepreneurs and small business owners who share the same concerns and challenges as you and also open up opportunities for collaboration. Meeting like-minded people and discussing business will give you a broader perspective on things and will help you make better decisions. Hence, make sure you attend at least a few events in a year to help your business grow.