Useful Tips For Holding A Memorable Small Business Event Part II

Useful Tips For Holding A Memorable Small Business Event Part II

Memorable events do not just happen. Organizing and hosting an event takes planning. Whether it is a corporate conference, business seminar or a customer appreciation day, and whether you only have three weeks to plan or longer enough like an entire year, your event’s success is all in the details. We have collected 42 small business event planning tips from the professional experts. This one is all about Useful Tips For Holding A Memorable Small Business Event Part II

Useful Tips For Holding A Memorable Small Business Event Part II

Useful Tips For Holding A Memorable Small Business Event Part II

Budget: Payment For Your Event

8. Create a “financing plan” for your event, and estimate the amounts.You need to know how you are going to pay for the event. Most of business events are funded by its sponsorships, ticket sales, internal marketing budgets — or a combination of all three methods. When you create your budget for the event, you are required to estimate how much money you can realistically raise from each part. Before you book your function venue or sign any contracts, it is better to start signing sponsors first, or selling tickets in advance to guarantee there is enough interest in your idea to fund it.

9. Make an expense budget – and save money through “in-kind” sponsor donations. Events generally tend to cost more than the average small business owner thinks — mainly in regards to the function venue and food and beverage. Remember to price out every permit and every license you will require as well. (This is where an event planner could help you avoid headaches.)  Create a comprehensive list of every expense and then highlight aspects where you think sponsors could play a role to provide something “in kind.” The more you work with other brands and business partners to hold  your events, the more you can save your money.

10. Consider crowdfunding as a new option to raise money for a business event. If this is your first time planning and organizing events, use crowdfunding platforms to ease the risk. By publishing your business events on these social media platforms attendees have to pledge for tickets for the event to take place. The number of attendees need to meet the minimum number required. If the minimum number of attendees required does not meet the event does not take place.

Useful Tips For Holding A Memorable Small Business Event Part II

Team: Who Is Going to Help?

11. Delegate responsibilities.  No matter what is your business size, always try to delegate responsibilities. Putting one person in charge of every detail typically does not work out well. Whenever possible, let people take control of the parts they most enjoy. One example could be to let the foodie in your company handle the catering details. The more people enjoys their responsibilities, the more likely they can nail they part.

12. Follow up – and follow up again. 

Melbourne Function Venue tips: Check in early and often. Even though no one wants to be micromanaged,  remember to check that employees and vendors are on track with their event duties. If people know you are expecting frequent updates, they are less likely to become frustrated when you require one.

13. Sponsors are royalty – ensure that they feel like it.

If you have sponsorship from them —treat them like kings. They fund your event and that sponsorship enables you to do it (if that is your business model). Be very clear before the event what they can get as sponsors.

14. Always underestimate turnout, for sponsors.

If you think you could get 100 guests, base your sponsorship pitch on a lower estimate — particularly if this is your first event. It is better to give sponsors a pleasant surprise rather than a disappointing one.

15. Ask people what they think about the event, and get ready for feedback good or bad.

Ask for critiques. If you have done half a decent job, you will get lots of kudos. Say thank you, but then ask for the CRITIQUE and get ready for it.

16. Have a skilled social media team to help you cover your event.

Please do not forget a social media team. While not imperative for every business event or industry, more events are now focusing on harnessing the viral power of their audience. If your guests is tweeting, Facebooking and taking pictures on Instagram — it is better for you to do the same and you will need a trained team to execute and thus help you.

17. Looking for vendors who can serve your niche and are willing to get involved.

The best vendors you could work with are those who have a deep understanding of small business culture. Look for vendors who work with small companies frequently or who can get involved on a bigger level than their role.

Useful Tips For Holding A Memorable Small Business Event Part II to be continued…