Every year in January, over 100,000 people travel to Las Vegas, Nevada from around the world to attend the International Consumer Electronics Show. For the first time this year, as a new affiliate of the consumer electronics industry, I was in attendance.
Its hard to imagine how large and active a trade show can be sometimes, but this isn’t your average trade show either – its the largest technology convention in the world! That being said, the level of entrepreneurial energy at this year’s CES was truly impressive. The opportunity to embrace that liveliness, dive into the community, and flex my own entrepreneurial muscles was truly invaluable.
With any good business, understanding your market and customers is integral to your company’s development and growth. CES was an important opportunity for my team and I to take our knowledge and understanding to the next level. While writing the business plan for our company, we conducted extensive market and industry research, as well as our own surveys, in order to better understand our customers and their needs/wants. But that isn’t necessarily enough, especially in fast-paced, innovation-driven markets like the technology industry. Attending CES enabled us to take our research one step further by assessing the industry in person, interviewing our competition, and identify emerging technology trends before the rest of the world. That is the key. If you know understand your numbers and do the legwork, you’ll know your industry inside and out. By doing so, you will ensure that your business remains relevant in today’s market and tomorrow’s too.
All in all, my first trip to CES proved energizing, educational, and productive. There sure was a lot of legwork (literally), but it was all worth it. Entrepreneurship is alive and well in 2011, let’s make the best of it!