Event Planning Business

Things to Do Before Starting an Event Planning Business

The notion of having an event business can be exciting. Whether it is the idea of designing a venue or selling tickets, there are several reasons as to why you are inclined to starting your own event planning business. Over the years, the event industry has grown consistently, making it a profitable venture for anyone looking to generate income. The prospects of the industry, however, has also made competition tighter than ever as new entrants continue to come in.

Though the event planning space may seem daunting due to the competition and presence of well-established names, these should not stop you from pursuing your passion in the craft. Despite being a newer player, you can still succeed in your field by taking the time to prepare and plan. Similar to any other business, you must take some steps before you enter the industry officially, so you do not feel lost once you start looking for clients.

Establish a Network

In the event planning industry, you will always work with different suppliers, so it helps to have a trusted and reliable network you can contact. Naturally, you need not have a complete database of contacts immediately as you will be adding to it continuously as you gain experience. However, it may help to have an initial list of suppliers, such as caterers, photographers, and invitation makers, you can contact for your events.

Aside from suppliers, you may also need to build a team to help you organize events. Juggling all the tasks alone can do more harm than good. So, find people who can help you manage your operations on the administrative side and the actual event planning side.

Gain Skills and Expertise

When clients look for event organizers, they will peep into your reputation and expertise in the field. Thus, as a newer player, you have to make sure you are equipped with the right skills to plan an event successfully. Aside from proper organization, time management, and budgeting skills, you also need to hone your verbal and written communication skills, as well as your creativity, adaptability, and advertising skills.

An optional step would be to look for certification programs that will help you learn the skills and add credibility to your name. Getting a professional certification in the industry will certainly be beneficial for you as clients will be more enticed to book your services.

Create a Business Plan

If event planning is your passion, then you may sometimes feel like it is less of a business and more of a craft. However, the reality is that it is still a business, which means you need a feasible business plan that outlines your strategies and objectives. A well-made business plan will serve as the backbone of your business since it will guide you in making decisions and help you convince investors if you are interested in partnering with any.

Secure Funding

In any business, one of the biggest hurdles you may encounter is funding. There are several financing options you can look for your startup. This way, before you fully establish your business, you will have enough capital. If you cannot self-finance your business and prefer not to take out a bank loan, you can focus on creating an excellent business proposal and pitch this to a crowdsourcing platform in hopes of getting investors.

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How To Change Your Business Working Culture

1.Outlining a Set of Values and Behaviors

You must document the set of required values and behaviors officially and make sure to educate your team about it thoroughly. It is a very important prospect of any work place culture to keep your employees motivated for higher performances.

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People should know how they are expected to behave and react to certain things so that your business can make space in market much easily because of its environment.

There are always going to be different styles of working cultures, depending on the nature of the business, the industry and the values of the ownership.

As long as everyone is aware of a clear justification for the choice of working culture and it is communicated appropriately, then that is fine to have alternative ways of working.

  1. Define Communication Ethics

Here, from communication ethics means all kinds of communications people make when at work. It may include emails, phone calls and directly talking to each other. The word ‘ethics’ represent the way of delivering a particular thing to another person to get anything done.

You should be sue to use a polite, reassuring tone and avoid putting exclamation marks or red and big font in emails. It puts a negative impact and a feel of insult on the other side and thus the culture is responsible for spreading negativity all around.

  1. Evaluate the Performances More Often

When you evaluate your employees’ performance more often along with evaluating your customers’ responses, you will have a much clearer picture of how things are going on. Start talking to your people in a friendly way to get to know their hurdles they might be facing on a daily basis.

Also, build a relationship with your customers in a way to get the knowledge if anything is lacking from your side. This relationship building on both sides will result in making your team much stronger and confident while their motivation level will also get improved widely.

  1. Use Strategy of Rewarding People

It can be a small reward like an appreciation card or a letter or in fact an email of appreciation does a lot more than you can even think of.

Your employees work so hard and a small gesture of appreciation can make their day. Same goes to your customers if they are providing business then be rewarding to them as well in terms of promotions and discounts.

Don’t forget they are the ones who can make the size of your business bigger. And the way in which you utilise a work force is how you inevitable grow.

Rewards and bonuses can be broken down micro and macro for ultimate performance and analysis of effectiveness.

Sales commision or lead generation bonuses which are something to strive towards over the course of each quarter creates a really commutative feeling and motivation will be stable.

  1. Give Authorities

Don’t keep everything in your hands, give authority to your people and make them accountable for things they are responsible for. This will create a sense of responsibility in them to take things more seriously and work with a positive feeling .

Also, the nature of this delegation of power will allow people to be far more motivated by the trust given. The feeling of authority makes them feel superior, important and relevant.

Give them an open ground to play and watch them closely so as to not losing control over anything. It is a trial and error procedure for sure. Sometimes giving freedom and moving away from micro-management will not always go as well as you hoped.

Other times, your office environment will flourish and give back so much more due to the enjoyable atmosphere and mutually beneficial  situation.

  1. Leading Not Commanding

The most important thing to change in any business culture is to learn that you need to become a leader and not just a boss. There is a huge difference in both which can either bring you on top or keep you at the same level for years.

Be a good listener to your people and customers by looking for practical solutions than imposing your decisions. Ask your team to propose solutions and think about them if they really sound possible. It is always about finding a balance of authority and comfort which meets the needs of everybody involved in the business.

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