Event planning can be an incredibly rewarding business to be in as the fruit of your labour brings so much joy and possibilities. However, it can end up being quite the opposite when even one thing goes astray. Here are some tips on getting the best from the event planning industry:
Choosethe right vendors and site
It goes without saying but do your research. Reliable, well experienced vendors are the only people you should approach when meeting your clients’ needs. If your catering company serves dinner poorly, it is their fault however, you are the one who hired them, so you’ll take the hit. Be sure you can select your vendors carefully.
Understand your client’s needs
If your client wants a low-key business gathering and you deliver a flamboyant James Bond theme party, you are probably going to be in trouble. Although this is an extreme example, remember that you need to know all your client’s requirements in detail before you can arrange a successful event.
Make fair estimates
Your numbers should be as close to the mark as possible. When events go over budget, your client may end up paying way more than they anticipated and this breaks trust as well as budgets. But if you consistently come close to or below your estimates, you will be suffering so get it right.
Always pay close attention to your cash flow and look at cost saving opportunities. Double checking how much you are paying your DJs or door people is just a small part of it. One of the most effective ways of injecting cash into your calculations is via client deposits.Try to be one step ahead and expect the unexpected.
Excellent customer service
The most important rule in the event planning industry is to keep the punters happy. Ensure those who attend get the attention they deserve when they have dramas or simple questions. Pushing people away or confusing them will make them more reluctant to visit one of your events in the future.
Making sure your teamis cooperative, organised and accountable for their tasks is important in a seamless event plan. All those involved must know their respective roles in the production of the event at hand. Avoid weak links like the plague! Prior to every event, take some time to think through the ‘what ifs’ and plan crisis management strategies with your team.
Holding enough insurance does not only protect yourself in case anything goes wrong but it provides confidence in moving forward. Most planners carry about $1 million of liability insurance. If you don’t have proper insurance, and if you’re slapped wit in a lawsuit, you could end up in deep trouble.
Remember, the best way to deal with unforeseen circumstances you can’t control is to remain as flexible as possible and be willing to try new strategies.
Now that you are clear of what you need to focus on you can avoid any signs of danger. Most of the effective troubleshooting within your business is within your control and consists simply of making the right preparations. If you are pro-active, you can prevent financial disaster and run a successful event.