My third reason for attending the leadership Showcase: Astounding Leadership Insights on the 8th September at the Dominion Theatre (http://www.astoundingleadershipinsights.com/) was the topic itself, leadership, which I pitched as being of incomparable importance for all of us. As it happens, there is a second topic which the conference will cover that I consider to be almost equally important, namely business development. So I shall write a blog on this as a reason to attend, but not sequentially now (to avoid the boredom of similarity), for in blog #4 I want to discuss a completely different of reason why one might attend this Conference: cost-benefit analysis!
Sometimes you have to force yourself to do something that is not your natural strength, but it is necessary. I am sure one of our sponsors, Garry Mumford of Insight Associates (www.insightassociates.co.uk), an accountant, lives and breathes cost-benefit analysis; possibly wouldn’t make a decision without it. When you meet him at the Conference, he’ll tell you. I, of course, make decisions without it all the time – it’s called intuition, but it can be scary and, frankly, sometimes it really is better to do a bit of homework.
So here is James Sale doing a very un-James Sale type of thing (except that I do like arguments against myself): giving you a cost-benefit analysis of why you should attend this event.
What are the costs? Well, the first and most obvious is the cost of the ticket. There were early bird discounts, but if you came in latterly it’s £97+VAT for the day conference. But then there are other costs: travelling to London and possibly in some cases staying overnight. That said, most people will be from the London area, so I don’t imagine that the average cost would be more than £30. And then there is the invisible cost: the cost of not doing work and being there. The client work you didn’t do or couldn’t do. How much is that worth? I can’t possibly average that, can I? For some it is significant, for others negligible because of how they structure time. But let’s allow a low consultancy day rate – say, £500+VAT – as our figure, and then we reach a total of £627+VAT for the total cost. Seems high? Seems expensive?
What, then, are the benefits? What do you get? What could possibly compensate for a certain £627+VAT loss?
First, we have the ostensible reason for the event: delegates will hear 6 expert speakers talk about leadership, business, business development, motivation and a host of related topics as they emerge. Is that worth anything? Speaking for myself, it could be worth a fortune! I have been in this game for 21 years and I came from a teaching background. Truly, I knew very little about business, had negative views on leadership based on various headteachers I had known, and my views on what made performance tick were extremely impressionistic. So what did I do? Three things: I studied in the evenings at Bournemouth University for a Diploma in Management Studies, which I acquired with ‘Distinction, I read voraciously, and – and critically – I went on every course going. And it was those courses that really opened my mind to what was possible. Indeed, it was through the courses that I was able to innovate myself and create new things because I understand what some of the ‘old’ things were. Put another way, one good idea can be worth a million pounds or more. There are so many people who encounter or even discover great ideas everyday, but who simply fail to act on them because they have a limited view of what is possible, certainly for them, and so remained trapped in less than optimal circumstances for themselves. But it is going on a course just such as this that introduces new ideas and explodes possibilities in the mind.
So, if you could get three great ideas either for your existing business or work, or for your new business or role, what might that be worth? Shall we say a million pounds because that’s what it’s worth to me? I exaggerate? OK, £100,000? Still too much. Alright - £10,000, but that’s the lowest I would ever concede.
Second, we have the non-ostensible reason for being there; though for some, it is THE reason: the network. I can tell you now that there are some absolutely fabulous people, aside from the speakers, who are going to be there. And I also need to tell you this: everything you want in life, everything, depends upon somebody, somewhere, opening a door for you. Thus two conditions appertain for that door to open: first, that you have met that person somewhere; and second, that they like you. But if you don’t meet them, they will never like you. So be there – so you can be liked, and doors can open. How much is that worth? To meet the right person for your business and for your job, well – could be everything. One of my fellow speakers on the stage I introduced some years back to a friend of mine, they hit it off, and they have been equal partners in business ever since. What is that worth? Literally, hundred of thousands of pounds! But if we consider just a simple introduction leading to consultancy work with a typical SME, then we are probably going to make about £5K.
Third, and I’d better make this finally – we have the goody bag all delegates get. All the speakers (6 of us) and sponsors, Garry Mumford (whom I’ve mentioned) and Gary Crouch of Spectrum Office Automation (http://www.spectrumserversafe.com/) are all contributing to the goody bag to enrich the experience. Now it would be wrong of me to tell you what they have for you, but I can tell you that my company’s contribution to this bag is worth exactly £175! Even if my fellow speakers and sponsors are meanies relative to me (but not to the general population; I just happen to be excessively generous – and modest), we could still say £25 per contribution and that would give, a £200 goody bag!
Let’s tally then:
Costs (ignoring VAT)
Benefits (ignoring VAT)
I rest my case except to point out that the value of the benefits are over 24 times greater than the costs to you the delegate. A no-brainer or what? The risk of actual ‘loss’ therefore is marginal. Come along and have a great fun day. Ooops – fun? How much is that worth? Did I add that? See you there.
My next blog will deal with reason #5.