People decide to get a booth for their business at trade or business shows for several reasons. They decide it’s a good place to show off new product, or to make industry contacts.
Sometimes, they decide that the show is being held in a location they’ve always wanted to visit (Vegas!) and they can write off the expense.
The most common reason I’ve heard over the years is that their competition is doing it, so that person needs to have a booth at the show, too.
I have one rule for trade and business shows, and I know I sound like the obnoxious SOB I am, because when my clients try to tell me their reasons for going to the show this year, I repeat the acronym below louder and louder. I talk over them until they get the idea and go quiet. It’s pronounced exactly the way it’s spelled.
TORTHASBITTAP. Remember it.
The Only Reason To Have A Show Booth Is To Turn A Profit.
All other “reasons” are excuses. If you don’t have a process in place to turn a profit, don’t go.
Profit is usually defined as the money a company receives above and beyond the cost associated with producing a good or service. In other words, “buy low and sell high.”
However, it can have a wider meaning. Let’s say you work at a not-for-profit business, and decide to go to a show. The fact that you’re not in business for the money is in the definition of your type of business! In this case, “profit” could mean you’re looking to leave a show with more of something than you came with. Donors (that is, money), but also volunteers, material, publicity, and so forth. The only way to turn a profit is to make a sale.
Selling is generally described as exchanging money for goods or services. A broader definition might be that you convince someone of the value of an idea via a discussion. For instance, I have a non-profit client that runs a small cat rescue organization. If they want to generate funds from donors, they might engage in a discussion of Trap/Neuter/Release (TNR) programs, and convince their target audience of the value of trapping members of a feral cat colony, performing spay & neuter services on the cats, and releasing them back where they were picked up. Their talk might catch the attention of a local journalist, who writes an article about TNR. A retired person volunteers to pick up the feral cats and drop them off after their surgery. My client has profited from dispensing information at a show, even though money has not changed hands. That is, as long as they consider the acquired publicity and volunteer efforts to be more valuable than whatever money they spent to attend the show.
When considering getting a booth at a show or conference, please keep the concept of TORTHASBITTAP in the back of your mind.
