You can learn a lot about business as the emcee of a startup event. As I waited onstage for the next elevator pitch, I wondered if the upcoming presenter would have taken the time to craft their one-minute message or—better yet—rehearse.
One part startup tradeshow, one part pitch competition, and one part investor presentations; this year’s Innovation Showcase put entrepreneurs through the paces as 63 companies sought to raise funding for their companies.
Each startup brought their own flare to their presentation, but the startups that stood out are the ones who made meaningful connections. And they did it with four simple steps:
Step 1: Know what you want.
How can you know if an event was a success if you don’t know what success looks like? Defining what you want out of a tradeshow, conference, or business competition will not only help you track your progress, but it will also galvanize you and your team with a focal point to guide decisions.
The Innovation Showcase had over 750 investors, entrepreneurs, engineers, and other business folks. With the kind of diversity that a large conference brings, it’s possible that you could have great conversations all day, but not have any measurable outcomes from the event. So, set your goals early. Then, you can go to work on designing a roadmap that will get you to the end zone.
Step 2: Plan out your pitch.
You have seconds. Not minutes—seconds—to grab the interest of your audience. That means you first have to understand who your audience is. As each company founder took the stage in the Speak Easy at the Innovation Showcase, you could tell within the first three seconds how well each pitch was going fall on the ears of the investors.
By getting a clear picture of who you want to talk to, based on your goals (see Step 1), you’ll be able to better identify when you’re dealing with a real opportunity. Then, you can go about crafting a message that will have the highest likelihood to achieve the result for which you’re striving.
Step 3: Draw your audience in with your booth.
Leave the poster boards and permanent marker at home. That approach was charming at your middle school science fair, but this is your business. On a startup tradeshow floor, there are hundreds of things other than your booth that are vying for your audience’s attention.
This year’s Showcase companies brought motorcycles, interactive touch screens, and carefully designed displays. The ones that consistently drew a crowd were the ones you could tell spent time constructing their booth experience. Don’t leave anything up to chance
Step 4: Exude energy (yes, even when you’re exhausted).
Sounds simple, but executes hard. I know tradeshows and conferences can be physically and mentally draining. But when the lights go on and the doors open, it’s game time.
Near the end of the Showcase, I took the stage with a handful of the country’s most active investors. It was one of the most insightful panels I’ve witnessed (I’ll save all of that advice for a later post). But what really shocked me was that when the panel concluded, there were a couple of companies that had already started to pack up their booths.
REALLY!? You’re going to invest all of this time and then just pack it up to head home early?
To each his or her own, but I’d suggest sticking around at an event like the Innovation Showcase as long as the organizers will let you hold down the floor. The investors I talked with on the panel still had plenty of energy and interest to speak with startups—even after our in-depth discussion on stage. You never know how you’ll get your next cash-generating opportunity. So, give yourself the best shot at winning and play until the game is actually over.
I was impressed with this year’s Showcase lineup. It was fun to collaborate with the Venture Club of Indiana again and I’m so thankful that our sponsors supported the growing startup community we have here, in the Midwest.
I learned a ton from our investor and entrepreneurial presenters. Each event has something new to teach you. So what are some of your biggest lessons learned from doing tradeshows and conferences?
Share in the comments below. . .
5 Comments
David Dubree
Great article Matt! The biggest thing that always stands out to me is you can’t replace face time with a book or short article. Being at a conference or trade show and building those relationships, in-person, is the real value. At this years Innovation Showcase I had an opportunity to have real face time with a silicon valley VC. He was very personable and most willing to answer all of my crazy questions in detail, correcting me with some real world advice. In that 10 minute conversation I learned a great deal about the mindset of an experienced VC and how the game is played, more than from any book I’ve read. Those conversations don’t happen every day. The cost of driving 2.5 hours plus the ticket fee, about $100. The value of that 10 minute conversation, priceless.
Matt Hunckler
Really glad you found value in it, David. Glad to have people like you in the community who are willing to share and connect. I’d be curious to know what kinds of things you extracted from that 10-minute conversation.
David Dubree
The VC I had the privilege of speaking with had three key points that stood out.
First, he made it clear that the name of the game is shock and awe – with a bang! If it doesn’t say WOW and stand out from the crowd, it’s not likely to be considered.
Second, he invests in original ideas/startups, not something thought up to try and cater to his likes and investment history. Show him what he hasn’t seen before.
Third, be passionate about and committed to your idea/startup. If you don’t believe in it, don’t bother pitching it. You can’t fake real passion.
I’m sure there was much more to glean from the conversation but those are the most memorable.
Raj Kapur
Matt – the one thing that stood out to me at this year’s Innovation Showcase was that there were quite a few presenters/founders stuck behind their displays and tables. If you’re passionate about your idea, this is the place to reach out and get your idea out there. There were a few that were engaging and enthusiastic, but quite a few were waiting for the crowd to come to their booth? Don’t wait for the crowd to come; don’t stand behind the desk or display hoping they’ll stop by. You’ve got to create the buzz that you so desperately crave!
Another awesome event again this year. Can’t wait for next year!
Matt Hunckler
Absolutely, Raj. To those founders who hustled to bring attendees into their booth–way to bring the energy.