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Q: I'm a young entrepreneur who is planning to organize an exhibition in
Australia. What would be the best way to approach exhibitors and investors?
I find that looking young is sometimes a disadvantage, and I don't have a
track record planning events, so how do I persuade anyone to become a
sponsor or exhibitor?
--T.T.L., Melbourne
A: In the U.S., where venture capitalists routinely shovel money at college
students selling the latest dot-com innovation, looking young is more an
advantage than a disadvantage. In the Internet world, youth is equated with
high enthusiasm and technological savvy, not to mention the ability to work
around the clock without such distractions as family or mortgage. That said,
when it comes to persuading a host of colleagues and competitors to invest
the time and money to exhibit at a trade show, youth -- or lack of
experience -- may work against you if you're in a fairly traditional,
well-established industry.
Before you become too preoccupied with your youth, you need to first
make sure that your exhibition concept is different from, or a significant
improvement on, those of others in your industry. Your idea must appeal to a broad
enough segment to attract a reasonable percentage of the companies in the
industry: Even the attendance of 1,500 or 2,000 is perfectly acceptable,
especially in a small industry or limited geographic area, says Steve
Schuldenfrei, executive director of the Society of Independent Show
Organizers, based in Wellesley, Mass. "If you can provide a marketplace for a
particular industry or niche that is currently underserved, you'll generate
exhibitor interest," says Michael Hughes, manager of research services for
exhibition-industry magazine Tradeshow Week. "You have to make
sure that your event will add value to both exhibitors and attendees. In
many countries, the exhibition marketplace is crowded, but there is still
room to launch specialized events focused on growing industry segments."
How to win over the ageists? Do exhaustive research -- on your industry
and exhibitions. Make sure your presentation to potential exhibitors and
sponsors demonstrates expertise in your niche and conveys that you have a
commercially viable concept. Bring along market data to back up your claims. Dress
conservatively. Show a confident but respectful attitude. And make
contacts with influential people in your industry. Remember, you'll meet few
attendees in person until the show takes place -- so they won't know your
age. If you worry that your voice will give you away on the phone when
selling booth space -- which will account for 80% of your show income -- hire
an older salesperson. Forging partnerships with individuals and groups who
know exhibition management is another way to overcome your lack of
experience.
RESEARCH ON THE CHEAP. Establish relationships with industry associations, trade magazines, and
established exhibition management companies. That will help persuade
others to join you. "Professionals will take you seriously if you can educate
them, add value, or provide a new marketing opportunity, no matter what
your age. Energy and enthusiasm are required to run exhibitions, and this
should also work in your favor. If your concept is sound, your presentation is
professional, and your partners are respected industry leaders, your age
should become a nonissue," says Hughes. And be prepared to market
aggressively. For the first few years that you hold this exhibition, you'll likely
spend about 80% of your budget on promotion and marketing. One common
practice in the exhibition industry is to trade booth space or sponsorship
opportunities for mailing lists and promotions with associations and trade
magazines, Hughes says.
There's an inexpensive way to test your concept, Schuldenfrei says.
"Before you even book a venue or set the dates, get a potential exhibitor
prospect list together. Say you've got 1,000 companies on the list -- pick out
100 or 200 randomly, and send them a letter on your management company's
letterhead telling them they are getting the first chance to be on the
'priority list' for booth space at your important new show. Include a tear-off
postcard that they can send back in order to get more information and the
opportunity to book a booth. Depending on what response you get, you
decide whether or not you're actually going to put on the show," he says.
"It's a way of doing market research on the cheap. And if you get back 50 or
100 responses, then you can go to the conference hall or the hotel and show
them that you have a list of exhibitors waiting to sign up, which will give
you the credibility to get a booking. If you don't get much response, you'll
discover that there isn't a market for this show before you're out lots of
time and money."
There is a wealth of exhibition information on the Web. Here is a list of
helpful starting places:
One last word on the youth "problem." If you can't seem to overcome it,
go to work for an exhibition management company for a few years, then try
going out on your own. Just be careful about signing noncompete contracts
that preclude you from running your own management company when you
leave.
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