Monday, 30 January 2017

FIVE (5) ESSENTIAL TIPS FOR STARTING A SUCCESSFUL EVENT MANAGEMENT BUSINESS




Event management is the application of project management to the creation and development of large scale events such as festivals, conferences, ceremonies, corporate parties, concerts or conventions.

Event management is one of the most lucrative start-up businesses one can venture into. The advantages are numerous. If you wish to start an event management business, here are five essential tips to help you get started;

MASTER YOUR CRAFT
First step to building a successful event management business is learning the trade. Experience is required to succeed as an event planner, but it is not compulsory particularly when you are passionate about it, and are willing to learn. While it is good to be an all-round event planner, it is very vital to attain specialty on a particular type of event. You need to be creative, and possess a great deal of communication skills; very essential in dealing with over-demanding clients.




BUILD YOUR NETWORK
Sometimes in event planning, it’s not what you know, but who you know. You may be a really good event planner, but without the right people to help propel your business, you may encounter some difficulties along the way. Knowing the right people is essential. You can start by attending seminars, workshops, exhibitions and social events. This way you can be sure of obtaining substantial contacts. Another method that is very essential for your business growth is your online social media presence. Your craft needs to be seen. With the right promotion across various platforms, people are definitely going to reach out. In fact, your major marketing campaigns should be done online than offline.


REGISTER YOUR BUSINESS
Business registration is very vital. One common mistake event planners tend to make is not to register their business. Since event management doesn’t require the formality demanded from a corporate organisation, many tend to ignore this aspect. But registering your business goes a long way in defining your business as a brand. You can create a logo, develop your website, business card, and lots more. It gives you leverage over small time businesses without registration. Some people or organisations don’t want to do business with an unregistered business name, hence no matter how fancy your business name might sound, it is pointless without being registered. You can easily bid for big-time events, with the right paper work. This goes a long way in solidifying a long-lasting relationship with your client, meaning your company is always the first to be mentioned when an event rolls-bye.

YOU NEED A PLAN
Like every business, this is no different, you need a business plan. Business plans are like the rule book for every business. Business plan helps you identify your target market, your estimated income and expenditure, your competitors, the advantages and disadvantages of your business, better marketing strategies, and so on. You can also determine how much capital and man power is required for you to start-up.  Another advantage for a business plan is that it can be used to obtain loan from the bank if necessary. Create a business plan as a guide to fall back on when faced with certain circumstances.

PERSEVERANCE
Perseverance is very important. You simply cannot ignore it. It is one of the essential skills you need to master besides being able to plan an event. You need to be aware of the fact that business might start slowly, but if you’re ticking all the right boxes, everything will fall into place. You may start struggling to keep up with the demands, hence the need for an expansion. Perseverance is also required when dealing with clients. Some clients can be very demanding, and sometimes you simply can’t go through planning an event for them without having to build some sort of personal relationship with them to help you clearly see what they want their event to look like.


Now you know what you need to do, it’s time to get to work. You can start by simply promoting your business online. Drop us a line on info@vivacitypr.com for more information or assistance.

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