I worked at one startup (only four employees) that took advantage of conventions and we were able to meet several people we were considering doing business with

I worked at one startup (only four employees) that took advantage of conventions and we were able to meet several people we were considering doing business with, sign on for some market data we needed, see what other companies were working on, and meet in person the people we hired to do various things for us. I worked at another startup with the same number of employees where we never did anything but work, work, work, focus focus focus, everyone was in such a hurry to get everything done that there wasn't time spent to see where the market currently was, what the competition was, and if we were working on products that would be desirable and successful. That company crashed and burned real hard. If nothing else, conventions give you and your employees a bit of a forced breather from that lifestyle. But again, they aren't truly necessary, they're just tools, and can be useful or a waste of time.