As someone who’s been in the business for awhile you’ve learned the ropes, and you certainly know what works for your business. But do you know what works best now? Sometimes routine can prevent the business from prospering, and that is why attending a trade show can help remind business owners of what the industry has to offer. Bringing vendors, distributors, industry leaders, and other business owners under one roof, you’re sure to leave with new ideas on how to enhance your company. Here are five reasons as to how attending a trade show can help your business.
1. It can boost employee morale. Don’t forget that attending a trade show is part business, part fun! Often times trade shows are held in great locations that can serve as a company getaway. It leaves room for team bonding and brings a sense of excitement to work. Every person who attends will have a different experience and have different takeaways that could ultimately help the business when you return home.
2. Trade shows help you get inspired. No one likes to go through a business slump, and seeing what’s happening in the industry is sure to help you break out of it. With plenty of people to speak to, and technology to discover, there’s bound to be newfound tips and tricks that can help turn business around. Be open to sharing the areas where your business has trouble, and truly listen to advice from peers in your industry. Maybe business is great and you want to take it to the next level. Listen to the business owners around you, as they may have been in your shoes before, or are at the stage that you wish to be.
3. Show Deals and Training! Buying equipment is never more exciting than at an expo. Take advantage of show deals! Did you know that you can often buy the show model at an even larger discount? Don’t be afraid to negotiate prices, as vendors are there to impress. Training on the equipment is a great way to see if the piece will be a good fit for your business. If you’re not the person who actually works the equipment bring those people along and see what would help them optimize your business. Have a team meeting before the expo to understand your employees’ pain points so you know what to look for. Otherwise, try to find equipment that’s easier to use, faster in production, and reduces the probability of error.
4. Networking and Education. Sure, the main focus of the trade show is checking out (and hopefully purchasing) equipment, but let’s not forget how vital networking is to any company. Speak to your favorite vendors and distributors, and to those less known to you. Get a good grasp on what options are available. There might be something you come across that you weren’t even aware you needed. Even if you don’t foresee needing a product or service at the current time it’s smart to become aware and get contact information in the event that you do. This is your opportunity to broaden your industry awareness. Remember that a goal of your time spent at the expo should be to expand your knowledge of possible resources.
5. Keep a competitive edge and enhance your business. Attending expos are the best way to stay up-to-date. Just because your equipment isn’t old or broken doesn’t mean the company is fully optimized. Consider leasing equipment so you can upgrade to the latest and greatest products in the industry. Even if you feel comfortable with where you’re at it’s good to take note of what you should do next, and use your resources to create a business plan of how to take your business to the next level. Use your time at the expo to take note of what you are doing versus what you’re not within your specialty, and stay aware of what services in the industry are growing or waning. Understanding what is on-trend will ensure that your services don’t become obsolete.
6. Learn about your financing options. Sure, having cash or using your credit line to pay for a new piece of equipment is an option, but consider financing before making such a large purchase. You may find that it is more viable for the business to finance the piece and keep cash and lines of credit open to improve other areas of the company. American Capital Group can set you up with Equipment Line which gets funding in your hands before the trade show so you can go shopping while you are there, no matter the vendor. See how little your next piece of equipment could cost you with our Lowest Payment Guarantee.* by getting a quote here, and let us help you stay within budget.
Even if you’ve been to a trade show before, consider going again. You’d be surprised how much the industry can change within a few years.