We all love launches. They are full of excitement and possibility.

The real test is whether the business can deliver the event to a high enough standard, profitably, while continuing to give the existing portfolio the focus it deserves.

I’ve watched many a launch from the sidelines, and the ones with the best chance of succeeding usually start with a clear understanding of:

• Where the revenue will actually come from. It sounds obvious, but you’d be surprised. Deciding whether the core revenue stream will come from exhibitors and sponsors or visitors and delegates is fundamental. I’ve seen the commercial model shift from one side to the other when challenges are encountered. And that is not the same event.

• Whether the market is ready. If it is the hottest new topic, is the market mature enough to sustain the number of exhibitors, sponsors or delegates needed to make the event profitable? Do enough potential exhibitors have meaningful budgets to market themselves?

• Whether there is a clearly defined community. Can businesses immediately identify with the proposition and understand why it is relevant to them? If they are confused at proposition stage, they are unlikely to invest.

• What realistic commercial and attendance growth looks like in years one, two and three. And when the event is expected to become profitable. Many launches oversell the vision in year one, leading to disappointed exhibitors or internal stakeholders. The event itself may have performed relatively well; the expectations were simply set too high.

One of the hardest parts is separating emotional attachment from what the data is telling us. I get it. Once people have invested their time, energy and reputation in a launch, it can quickly become a passion project.

So agree the evidence needed to proceed at each stage before you reach that point. That might include exhibitor commitments, qualified pipeline, audience demand and projected margin. Set the go/no-go points early, agree when they will be reviewed and make the decision against the measures chosen at the outset. Clear stage gates protect the quality of the decision-making. 

Then there is the team...

“The best way to undercut a strategic initiative is to make it someone’s part-time job.”

A line from Tom Godden at Amazon, which sums this up quite well.

Launches need dedicated ownership and a team with protected time to build them. Not a few hours borrowed from several people who already have full roles and live products to deliver.

That doesn't necessarily mean creating a permanent department on day one. It could be a focused internal team, external specialists or a blend of both. But it does mean clear ownership, agreed decision-making authority and people with the space to maintain momentum. It also gives the existing portfolio the focus it still needs.

Once a business has agreed that an idea is worth pursuing, it should give it a genuine opportunity to prove itself. Otherwise, you are not really testing the proposition; you are testing how much additional work the existing team can absorb without falling over.

IMHO, strong exhibition portfolio is built by choosing carefully, testing honestly and properly backing the ideas selected for growth.

#Exhibitions #EventStrategy #PortfolioGrowth #SustainableEventGrowth #EventPortfolioScaling #EventIndustryChallenges