Knowing event planning business
Many projects or events takes place today such as conferences, seminars, meeting, ceremony, party and various other different activities which has to be managed and this management is termed as event planning and doing business related to it is event planning business. This is not an easy task as it seems of just planning and executing an event but it involves many things beyond planning such as proper allocation of funds, choosing and finalizing venues, taking permissions from government bodies or other authorities, thinking of a theme and arranging activities, taking printouts of event related materials, arranging speakers and audio equipment’s, arranging transportation, making function risk free or chaos-free etc.
An individual to be a good event planner requires certain skills which are necessary to start an event planning business. Organizational skills, interpersonal skills, an eye and attention for details, ability to connect to large crowd, ability to find out loopholes in own planning at first stage, technologically sound, imaginative, creative, adjustable and adaptable to the situation, outgoing, social etc.are some of the important skills which needs to be identified. If a person likes to work behind the desk, than event management is not for him or her.
Things required starting an event planning business
Experience and certifications are very important before starting any business and here experience has to be gained to know everything in and out of the event management business. Certifications create confidence in the minds of the clients and also certain courses helps in knowing more about certain subject. There are many universities that offer courses with certifications.
Decide a niche: – After identifying skills and knowing the courses or taking certifications, it’s necessary to decide what one has to do. Focus on what one has to excel in i.e. there are many types of event- educational, party, promotional and events of nonprofit organization, fundraising events, wedding, corporate meets etc., determining ones market is necessary to get a proper hold on it.
Business plan and legalities: – Once a niche is decided prepare a business plan that includes cover page, introduction, company overview, analysis of industry, analysis of customer, competitive analysis, O and M plan, team that will be managing, planning for finance etc. Understand the legalities involved in starting an event planning business such as getting all paper work done lawfully, license to start one, insurance for employees and other liabilities etc.
Approach investors: – Starting any business requires initial capital hence it is important to think about approaching investors and lenders who can be family or friends. Finance is the backbone of any business and getting it in the right way is second important part. If the event planner has full time job and works only on weekends then that’s the best thing to happen at initial stage of starting a business.
Networking: – Approach good caterers, entertainers, electricians, suppliers and marketing experts after deeply scrutinizing them and reading reviews about them through either actual experiences of friends and families or it can be checked online too on certain sites. Arrange for helpers through some trusted source for managing the cleaning work after the event. Networking involves meeting new people who may utilize our business services themselves or get business to us. A visiting card, brochure sent to contacts and to local businesses also helps in increasing networking.
Marketing: – This is one of the key areas after everything has been done and arranged. Social media is the best option to do so through professional sites like LinkedIn, twitter and Facebook. Displaying ADS of events in relevant and related areas, posting them in periodicals, newspapers etc. are some other ways to advertise and market.
