Definition: A meeting of heads of state or government, usually with considerable media exposure, tight security, and a prearranged agenda. Lets put this in terms of the business world.

1. Big Names Only. Exclusivity is key here. This is an event that is reserved for, and only for, executives and top heads of companies. Summits are huge for networking and also for creating a line of communication between big bodies in the industry. If you manage to get an invite you are one of the big heads of your industry!

2. Its All Set Up. All participants know what is going to happen and when. Summits can last a few days to a week depending on the activities that are scheduled. Also key note speakers are usually people who are attending the summit themselves because they are at such a high level in the industry anyway.

3. Be the first to know what’s new. The cream of the crop are who attend summits, so it makes sense that the innovations and the big ideas are reveled here first. Nothing better then being the first to know what changes are coming/influencing those changes.

Why attend? It would be insane if you were invited to and decided not to attend. The connections you will make alone is worth the trip. If you are invited that means you are influential in your industry and should feel honored to attend. Plus if you feel behind in the industry or just need some ideas, a summit is the perfect place for a refreshing look at your industry.

Why organize? If you are the one organizing a summit, you most likely are a very influential part of your industry. This can keep up your network of friends and partners while also placing you in with the crowd that knows what new things are happening for your industry.