Hello and welcome back to the Country Intelligence Report. I'm your host, spencer Bentley and Devon Florzak. Today we're going to be discussing the value of conferences for small businesses. Recently, our company, country Intelligence Group, has really dove into the conference scene, looking to leverage attending these sort of events as both branding opportunities and business development opportunities, so we thought it'd be a pretty good topic to cover here.
Speaker 1:There are, I know, a lot of questions regarding the utility, the return on investment and just the general advantages and disadvantages to attending conferences regardless of the business, and I think it's something that small businesses really have to grapple with in terms of is it worth investing in both the man hours and the capital necessary to attend these sort of events and what are the realistic expectations that you should have when attending these events? So we'll start at the top and, devon and I know that you have recently attended an event on behalf of the company so, just broadly, I'd like to get your take on what is the utility of conferences and networking events for small businesses and how do you see that as being applicable to a company like Country Intel?
Speaker 2:Yeah, as far as small businesses go, I mean, it's one thing. When you go to these conferences you of course have Deloitte, lockheed, you know user sort of staples that are at these events, which that's expected for them. What is more unexpected is the small businesses that go and sort of put themselves out there and I feel like the general sort of vibe about you know, the conferences and networking events is that a lot of them are super fluff, not too much gets done at them, or not a lot of important things get discussed, or that a lot of people now you know they don't even attend the conference, they'll just go to the bars and restaurants after for networking there and hope to catch some people there at a more, you know, casual location and a little bit less formal than the conference. But for these federal procurement conferences they're more applicable to, you know, obviously us and anyone who might be listening as part of a federal contracting group, especially a small federal contracting group. I think they could be really helpful, dependent on who's there and what the focus is.
Speaker 2:I think something that you know we learned, spencer, going to the Department of Energy Conference last fall, was that some of these conferences can be really research dependent and more so, just showing off what people are doing instead of what people are actually looking for and what their pain points are. And that's why I thought really interesting about the conference I attended this previous week was that this seems to be more focused on, you know, having actual government folks there talking about what their pain points are and sort of what they're looking for and looking to achieve and sort of sought out you know the type of, you know, companies that are looking to work with and get the work done. So it was a lot more straightforward, a lot less fluff and, you know, I think that's really important if you could find those sorts of conferences that provide that.
Speaker 1:Yeah, that's a good point, man. You know that the criticisms that a lot of conferences get is honestly warranted because, depending on who's putting it on, depending on the focus of the conference, a lot of them can devolve into very informal networking opportunities which are really just an excuse to travel and play and drink. You know, and I've now been sort of a key person for a couple of different companies in attending conferences in various capacities, and I see that across industries this can be a problem. You know, if there's not some sort of targeted, I guess, reason for the conference, then really it can just kind of go off the rails pretty quickly, no-transcript, with just within country intel. In my experience here, I've attended one conference that was admittedly a bit out of our scope and not really something that was very useful for us, and I've also attended a conference recently with the Department of Energy, the small business conference that was in New Orleans, and it was extremely fruitful, very well run, plenty of opportunities for guided networking within the conference itself, very professional atmosphere. So it really depends on who's putting it, on what the stated goals of the conference are and how I think the networking is facilitated as a big one, because ultimately in my opinion, that's really what these are for. They're just to get some face-to-face time with decision makers and help close the gap, the communication gap that can exist across any industry. But I found that a lot of the fluff that can go on is really just a lack of strategy from the planning committee on whoever's putting these conferences on.
Speaker 1:So, yeah, I agree with your take and I do think a lot of it's warranted, and it's difficult, I think, for a small business to understand which conferences are worth the effort. Because of that there's so many going on and we're just talking in the realm of management consulting. There's just it's so much all the time and they're all over the world. They all market themselves as the place to be if you're trying to do business in this industry. And for us, obviously we want to get our brand out there, we want to become known players in the space and elevate the country Intel cache.
Speaker 1:But, just like many small businesses, we're limited, we're resource constrained, constrained by just the bandwidth that everyone's taking on. So when we plan to attend these, it's a big deal. It's a big deal for us, it's a big deal for the company and it can be really really heartbreaking to go there and then end up kind of empty-handed at the end of the day wondering was this really worth it and should we continue pursuing these types of opportunities? But yeah, I mean, it can be difficult.
Speaker 2:Yeah, I think it's something that is just a big process of trial and error, figuring out which ones are good and which ones are bad, and, to me at least, you can pretty much tell right away, as soon as you get there and you sort of see different panels going on the presentations, how the showroom is set up, you can pretty much just tell like all right, well, yeah, I do want to do this, maybe again next year, or like, well, this looks like kind of a waste of time, so maybe we'll steer clear. So yeah, I think it's definitely a lot of trial and error and it's almost like we should probably have more solar and annual goal of attending X mile conferences each year and just having a straight takeaway of was it worth it or not, especially when you're considering the cost to go and the time allotted spending there away from work.
Speaker 1:Yeah, I agree with that, and the trial and error part is true and I think I should clarify my stance that it can be especially for small businesses just entering into the event sort of network. It can be difficult to understand what it is you actually want to get from it, and I think that that's something that comes with, like you said, trial and error and attending certain events and getting a sense of what is realistic in terms of what you expect to take away from it, and that, I think, is crucial for small businesses to understand that you have to go in with a strategy. You have to actually enter into the events network with a strategy in mind. Are you going there to increase brand awareness? Are you going there to connect with decision makers? And then that mindset will then, I think, help guide you and help trim away a lot of the fat, because just because it seems like an exciting conference and there's all these, say, different renowned speakers that are going to be there, it doesn't mean that it's necessarily valuable to your company and it may not hit the strategic goals or help you hit those strategic goals that you set for yourself, just because it's a larger or a more well marketed event and that's, I think, really important for small businesses to wrap their minds around it and get that amount of clarity that what's useful for you is useful for you and where you find utility is really going to depend on what your company's goals are, what your company expects in return on investment for attending these.
Speaker 1:And then just being realistic about that, because, unlike, like you said, the larger name organizations in our particular market the Deloitte's, the Raytheon's or what have you a lot of the smaller shops don't have some unlimited budget to attend these conferences and they can get very pricey and they justify that price with a lot of fluff. Essentially, that doesn't really help push the needle in terms of business development or making the right connections with a lot of small businesses. So it's just really important that companies go in with that bit of clarity. Yeah, yeah, I agree. So just as a consulting firm, we work closely with the federal government. Just wondering what key insights and trends have you observed in the conferences that we've participated in and how do you think these events contribute to sort of fostering collaboration and networking specifically for small businesses seeking government contracts? Like, have we seen any, you know, trends that help sort of facilitate small business connecting directly to the client, or have you participated in any events that are more fruitful to that end?
Speaker 2:Yeah, I found at the conference I was just at this past week that if you happen to be at a conference that's focused on the federal procurement side and they happen to have actual government representation at the conference, you'll obviously want to seek out who those decision makers are. But what I thought was really cool was that they actually had panels where the panel members were actual kernels and progerger generals that were hosting the panel and pretty much it was an open Q&A where you could either submit a question beforehand during registration or they set aside a good chunk of the time where you could just raise your hand and have a conversation with them about the topic they were discussing. So I thought that was really unique and they were really open about it and it really gave a platform to the small businesses that were there as well, because obviously there are a lot of the big guys at some of the panels that have representation there.
Speaker 2:But, for example, I was at this one panel and this guy was representing his small research firm that was doing some work with the Air Force and he was talking about how he's a supplier to Boeing or one of the big guys and his issue that he was having was, since he's a supplier to them.
Speaker 2:Essentially, they're taking his product and marking it up a little bit extra and then selling it to the government, and his issue that he was voicing was that the government has no idea, besides the fact that they're working with Boeing, for example, that there's actually a small business behind that certain product.
Speaker 2:They just think it's Boeing because that's who they get the information from, and his concern was that one Boeing and these big companies can be overcharging the government and there's really no way, there's no platform for direct communication between the government and the decision makers that are looking for that product, besides going through the big companies. So I thought that was really interesting and their take was that they agreed with him essentially saying that the government should ideally be fully aware of all of its options and not just going through the big companies, and they were discussing how that's. They pretty much called themselves lazy and saying that they didn't do enough work on their end to go and seek out who's actually doing this work, besides just saying, oh, this is Boeing, they got to cover them and that's it. So I thought that was really interesting.
Speaker 1:Well, that's a refreshing amount of introspection from the government that you don't normally get, but that hits the nail on the head with what I think is the real utility of these events. Because it is true, especially in our industry, that there's a scourge of consolidation the large players that have these humongous workforces, these unlimited budgets coming in and kind of blocking out the little guy or exploiting the little guy, and there is a endemic problem with a lack of communication within the government as a whole and specifically with the government and their smaller contractors. And these conferences do provide that utility and I echo that sentiment because that's exactly what I saw at the DOE conference that I attended in New Orleans. There were the Department of Energy made it a point and this is because of a few different mitigating factors having to do with the administration that's in place and these recent laws that were passed, like the infrastructure law and these clean energy initiatives but there was a really direct and unambiguous emphasis on connecting the government with small contractors and even though there were larger contractors there present, there was a real, true sense on my part and my colleague who attended with me that they were serious about engaging with smaller contractors.
Speaker 1:We met face to face with a lot of contracting agents.
Speaker 1:We met face to face with a lot of different in terms of the DOE, a lot of different labs.
Speaker 1:That's a huge part of their organizational makeup and we discussed our offerings and they gave us actionable insights on how to engage with them and that's something that I think is really, really powerful and really worth the cost of attendance in and of itself, because it can be difficult to even you know, if you're outside of these settings, to even get a contact you know to speak with, you know to understand who you're supposed to be talking to Because, as we all know that the actual contract and RFPs and RFIs and all that it can feel like you're banging your head up against the wall because of the anonymity that's involved.
Speaker 1:You know the lack of personal connection that's necessary to maintain an even playing field but also can feel quite daunting for small businesses to overcome, because you feel like you're kind of starting behind the eight ball when you have all of these different requirements to hit and no person to actually speak to, to get to know, to, to pitch your ideas and your business and your competencies. It can be a lot. So, in that regard, these conferences can be very, very useful and I think, for small businesses. In my opinion it would be helpful for you to find conferences that are put on by the government, put on by your client, and even if your primary client is not the government, look for your client and look for the events they put on, and that I think that can help sort of connect that A to Z communication that exists.
Speaker 2:Yeah, and I guess one of the issues that I maybe had was when speaking with some of the government folks there. It seemed like they didn't have their own business cards. So I wouldn't say it was like an awkward interaction, sort of forcefully my business card to them. But what do you think about that? Because I'm sure that you've been at conferences a bit longer and you know, after this conference I guess I could go ahead and, you know, search some of these people on LinkedIn and try to connect that way, but I'm not really sure what the best way to do about that is, you know.
Speaker 1:Yeah, I mean, I think a lot of those, those interactions, learning how to navigate them just comes with time, but I come prepared to share my information and get whatever information they're willing to give me. You know, I found that in these networking scenarios because for me personally I'm not a salesman and networking isn't like second nature to me. Opening up to strangers in general, it's just not, you know, it's not within my personality I found that if I go in and I try to stay within my shell, nothing gets accomplished. I go in and I try to be as gregarious and open as I can and I have a little pen and a pad with me. I start out with my pitch, start out with the pitch.
Speaker 1:Whoever I'm speaking to hey, this we're country Intel, we provide XYZ who are? Tell me about yourself, how are you? I try to get a little personal, get to know them as a person and then go into what are they looking for, what are your pain points, and then I just straight up ask them for their contact information. Because I've found that oftentimes what can happen is, if I'm not direct in my intention, the conversation can become kind of pointless, because I'm not there to meet new friends, I'm there to expand our business and get to know decision makers and get to know how we can really fill whatever gap they're experiencing. So, yeah, it can be awkward that that whole exchange can feel very forced, but it's necessary, it's kind of a necessary evil. And then I think that when you're less in my opinion, when I am less, I guess, restrained in my approach, it puts the other person at ease.
Speaker 1:If I just come right off the bat and say, hey, this is what I'm doing, this is who I am, what's your name, what's your email, most people just give it up. They're kind of waiting for you to initiate that. So yeah, I mean and I think we find that more with government employees, because small or private sector employees, they're sending their business development or salespeople to these conferences. So they already have that whole routine already mapped out. They'll come with their business card, they'll come with their pitch. They're expecting that interaction. Government employees, especially the ones that I, that we've interacted with, the few theory events we've gone to, they're not BD people, they're oftentimes like middle managers, they're subject matter experts. They're not versed in the art of the deal. So, yeah, it's kind of a necessary evil.
Speaker 2:Yeah, I guess something that will just come with experience and speaking to the folks that are actual civilian or military members, because, like I said, they don't have business cards, so it's not like you can kind of joke around with the other contractors.
Speaker 2:They're like oh yeah, we're doing the typical business card exchange, but with the federal members it's different.
Speaker 2:And I guess that's, I think, where some of the disconnect is with small businesses versus the big clients is that obviously these kernels and these military members that are supervisors and decision makers, they obviously come to know the bigger guys just because they probably more frequently do business with them and they already have their contact info. They have their phone number, they have their email address. And that was one of my other I asked a question on one of the panels was if we do have an unsolicited proposal, how do we get in contact with you? Where do we send it? And half of them just said, oh, just email us. But do we just email their dot mail like unsolicited or do we find their personnel? It's just a very gray area to me about interacting with some of these civilian military members and I think it just sort of fosters the issue further about the divide between those companies that have the small business set aside and different set of sides versus the large companies that have a foothold.
Speaker 1:Yeah, no, I think you hit on a good point there. The ubiquitous nature of the larger players in our field in particular can really take a lot of the air out of the room. You know, losing contracts I feel like losing out an opportunity to a small business never hurts quite as much as losing to the big guys, because it just feels like, you know, did you ever really have a chance? Just because they have so many resources available to them. But I think what it really boils down to is that personal touch, those personal connections, because ultimately and this is something that I will always die on people work with people. They like you know the competency obviously matters. Your ability to execute the given task, clearly, you know that matters. But if it's between two different individuals that can execute a task, the person that's going to win is always going to be the person that the hiring personnel likes working with, and that just comes from relationship building. So you know, when these individuals from the government side tell you that, you know it's a matter of just reaching out to them and contacting them. I think they mean it and I think that's exactly what the big guys do. They have obviously more bandwidth to keep a constant line of communication, you know, with some sort of contracting officer, when you know no opportunities are readily or immediately known to be available. But they put that work in to keep that contact and that communication alive.
Speaker 1:And I think that is really the difference. You know, especially for contracts that don't have that small business set aside, you know, how else are you going to really compete? Because just on resources alone, you know you're talking five to seven organizations that can execute, you know, no questions asked. But I think that for small businesses to sort of get that foot in the door, it is incumbent upon us to go the extra mile to do that outreach, to understand who these people are, keeping that open line of communication with them, and then, you know, just fostering those relationships.
Speaker 1:Yeah, that that's really what I think it comes down to, because that and that, again, that's the utility of these type of events right, getting to know these people, because otherwise, like I said earlier, how would you even know who they are? You know, for some unsolicited, you know, you know proposal you otherwise will fall into a black hole. You know, finding finding personal contact information for individuals in the government can be next to impossible if you don't have the right resources. So, yeah again, just one of those, those reasons that small businesses can benefit specifically from from client led or events, is that it again can close that gap. Can close that gap, yeah.
Speaker 2:And the less. Maybe this is getting into the weeds a little bit, but you mentioned, you know how, how do we compete against? You know, booze and Boeing and all these larger companies that have more resources. And you know, as you know and this was discussed at our conference as well was the use of these more rapid contract delivery systems. And I think it's maybe a good thing when you look at it, because you know, only a select group of companies actually do get to apply for, you know, contracts on that certain vehicle and it's sort of a pre approved list. But the issue that sort of brings up is that once you're on that list you're competing directly with, you know, booze and Boeing and Lockheed and the small business you know set aside doesn't really matter anymore. You know that's their direct competition.
Speaker 2:And that was another point raised and maybe we can talk about this another time.
Speaker 2:But that was another point raised was that I wanted to frame it as a more so, like something that's sort of backwards. But they said that you know that the government has legal mandates to dedicate a certain percentage of the work to small businesses, and some of the federal folks were talking about how these new contract vehicles are starting to be used, that that mandate is sort of being fulfilled legally by allowing the government to fulfill legally by allowing a certain percentage of you know of contracting groups on that, on that pre approved list, to be small businesses. And they're saying how? More so some of the, some of the sentiment that some of the small businesses are saying was that you know, if the requirements just being filled up front by allowing you know x percentage of small businesses on a certain contract vehicle, what about the actual work that is, you know, being sent through that vehicle? Because it's not very legally clear about that sort of distinction. I thought that was really interesting, but maybe we can talk about that another time.
Speaker 1:Yeah, no, that that's a very interesting and good point, I think. Yeah, well, we'll definitely dig into it more in a future episode, but you know these just broadly, these sort of issues being aired out again, I think, points to the utility of the venue, you know, because otherwise, especially for small businesses, you know, being able to voice our concerns, you know, voice our frustrations, it can feel like we're sort of, you know, yelling into the void because there's no real clear accountability, just to be completely blunt, especially when it comes to how we compete with these larger companies and how we discern, you know, where our expertise should give us an advantage, even over the bigger players in the field, and why sometimes it just doesn't work out due to structural or, you know all types of issues. So, yeah, you know, just kind of bringing it, bringing it back. I think, again, these are one of the one of the advantages to these types of forums and, yeah, it's just something that small businesses, I think, have to really take into account.
Speaker 1:You know, coming equipped to these conferences, to these events, with a clear sense of purpose, if you have any sort of strategic goals going in and adhering to them so that you get a returning audience.
Speaker 1:You know you're not just signing up for everything just to be seen, just to get your, your, your, your voice or your brand out there. You really have to go in with a clear understanding that this is a business cost that you intend to recuperate through whatever means that you've put in place, whether that be you know having contacts or you know a brand, you know expansion effort with getting a booth or something like that. Just having a clear sense of purpose, I think is really crucial because, again, small businesses are constrained in so many ways that if you don't have that, the value of conferences can really really diminish pretty quickly. Thank you for listening to the Country Intelligence Report. Please like and subscribe to stay on top of the latest developments with the show. For more information on the Country Intelligence Group, please visit our website at wwwcountryintelcom. You can also be found across multiple social media platforms at Country Intel.