For those of us involved with trade shows, we know that a high priority is managing the budget. The budget drives where, what, and how we exhibit. And it adds up quickly. There’s the cost of the booth itself; the cost of show services like Wi-Fi, shipping, and drayage; travel and lodging costs; and collateral costs such freebies and giveaways and drawings.
Topics: Nashville trade show displays, Nashville trade show exhibits, Nashville trade show installation, skyline Nashville, trade show marketing, Blog, Skyline, trade show booth installation Nashville, trade shows, Tradeshow event, tradeshows, environments, trade show leads, success, corporate culture, branding, budget, vision, ROI, return on investment, F2F, face to face marketing, B2B, budgeting and measurement, rigging, installs and dismantles
By Jon Althoff
I have loved being challenged in business for over 35 years. In CPG B2C (consumer packaged goods, business-to-consumer); in B2B (business-to-business). Manufacturing. Design. Chemicals. Food (my favorite was candy).
I’ve seen a lot over the years; made objectives most of the time, but many times I, and my organizations, did not. The reason why was occasionally something as obvious as the economy, but most often there was a controllable miss: bad planning and bad alignment.
“You gotta spend money to make money!” We’ve all heard this old truism, and while it definitely is, well, TRUE. . .businesses have to make sure they aren’t outspending their profit. There’s a delicate balance between spending enough (and in the right places) and spending too much. On top of that, the balance is always shifting – more like a wobble – as businesses break into new markets or experience an economic downturn or just grow lax in carefully budgeting where their dollars go..
Last week, I had a day of back-to-back unrelated meetings, and I realized that at every single meeting, one of the topics that predictably came up was money. Whether the meeting was administrative in nature or about implementation or planning or advertising or education, considering the financial side was inevitable. Seems like a shallow, obvious thought, but I had this epiphany about how money is intrinsically related to every need and want we have.
This was kind of a bummer. As a creative, out-of-the-box thinker, I don’t want to consider monetary limitations. It seems like a budget sucks the fun right out of an idea.
Failure is Not Fatal
One of the better sources for business success I have found is by observing everyday life and applying the principles I’ve learned to what we do inside our organizations. A great example is a recent ski trip to Vail Colorado and watching snow boarders who were still in their teens or younger. They gather their courage at the edge of the run and dive straight in. The kids attempt a trick or move, and I can tell you the majority of the time they fail and “kiss the snow.” When they fall, they pop back up and turn around and try it again… and again, until they get it or run out of sunlight. There is even a fairly good crowd gathered that will hoot, howl and whistle at epic failures. It is counterintuitive, but these kids are celebrating the failure they just watched - knowing the success it will lead to. These kids understand something that many organizations miss, that one key ingredient to getting better at snowboarding [or anything] is failure. You will not get better unless you take some risks and fail, then try again until you accomplish what you set out to do.