We’ve recovered from SXSW, and are following up thanks to our content partner, Pinsight Media+. If you’re a developer, take note: 75% of apps make less than $1,000/month. You can make much more through offers from Pinsight, including free pre-loads, distribution and advertising, and featuring on a device marketplace. Email partners@pinsightmedia.com for more!
About the author: Ryan O’Connell is the vice president of Influence & Co.
Thanks to our sponsor
Entrepreneurs from around the Silicon Prairie and beyond gathered at the Iowa Hour.
Often nicknamed “spring break for entrepreneurs,” SXSW is increasingly becoming a party rather than a conference. But don’t be fooled by its massive size or fun atmosphere, it’s still a serious opportunity. Startup founders trek to Austin annually in hopes of becoming the new GroupMe or Twitter. But for every success, there are 20 startups that invest precious cash without a high return on investment.
It’s important to understand that just attending, renting a booth, or throwing a party at SXSW isn’t enough. In fact, you can actually have better luck doing SXSW on a budget by setting up meetings and attending the right parties. It’s all about accessibility and making valuable new connections.
What SXSW Has to Offer
If you’ve never been to SXSW, or if you went and didn’t think it was worth it, you’re probably wondering how startups can justify the cost. You can’t expect SXSW to skyrocket your startup to fame and fortune, but there are many benefits to approaching the event with thought and planning. Here are five benefits to attending SXSW that don’t depend on luck:
- Face-to-face meetings — Unfortunately, today we’ve come to rely on less-meaningful digital relationships. SXSW is a great opportunity to build relationships through face-to-face meetings. I spent over half my time at SXSW meeting up with existing clients, partners, and friends, getting valuable feedback, brainstorming new ideas, and meeting their connections. Don’t rely solely on forming valuable relationships by chance. Make the most of your time with a healthy mix of pre-set meetings and go-with-the-flow interactions.
- Branding — Most startups I see at SXSW assume they have to spend money on digital signage or an exhibit booth, but your target market probably isn’t made up of the people walking around the exhibit halls looking for free stuff. They are in the breakout sessions learning or mingling with other entrepreneurs at parties. Recognize that every interaction at SXSW is an opportunity to brand your startup through networking.
- Team building — This year, we decided to reward high-performance employees and do some team building by bringing a large group down to SXSW. While they were there to build business relationships, it was also a great opportunity for our team to bond, strategize and brainstorm outside the office.
- Accessibility — I’m always amazed at how many influencers and well-known entrepreneurs venture to SXSW just to hang out and interact with like-minded people. There is no better opportunity to meet with big-time influencers, entrepreneurs and idols who would otherwise be inaccessible. Gary Vaynerchuk’s annual SXSW wine party is a great example.
- Education — From Mark Cuban to Chelsea Clinton to Ben Horowitz, the keynote speakers usually abandon their typical talk tracks and speak off the cuff, knowing that the entrepreneurs at SXSW are really looking to move their businesses forward. Many years ago, they were in your shoes, and you can find out how they found success.
Advice From Attendees
The best advice for how to get the most out of SXSW comes from the people who have been there. Here’s what they have to say:
- “Strike up a conversation with anyone and everyone. Whether you’re listening to a panel discussion or waiting in line at a food truck, you never know if the person next to you could potentially be a client, partner or major influencer who will make a huge impact on your business.” — Brock Stechman, founder, DivvyHQ
- “Don’t be afraid to ask that new contact where they’re going next, and ask them to carry you along.” — Jack Holt, CEO, Mattr
- “Plan ahead, but be flexible. Serendipity is the essence of SXSW. Expose yourself to new ideas and opportunities, especially hands-on workshops.” — Jake Stutzman, founder, Elevate
- “Master the art of the follow-up. When meeting someone, understand why you are meeting them. Then, when following up, you are able to remind them of the conversation and why it is that you should be connected.” — Blake Miller, managing partner, Think Big Partners
Finally, don’t forget to have fun. Of course, you should go with specific goals in mind, but if you fill your schedule to the brim, you’re not taking in the true essence of SXSW: simply being around awesome entrepreneurs and tech movers and shakers looking to have a good time.
Credits: Photo by Fred Bauters.
