Está supervisando un proyecto de Live Events. ¿Qué estrategias financieras asegurarán su éxito?

There’s two ways of budgeting any project. 1. Allow the client to set a budget and then try to accommodate. 2. Or provide the client a detailed real-world budget that meets the scope of their needs. Be forthright and justify every expense. If the client balks or demands they want to spend less, show what a reduced budget looks like and what is removed. Give them the responsibility of deciding the consequences. Gouging may work once. Never again. And low-balling and then submitting a final invoice that’s 30% more than the estimate will work only once.

To ensure financial success for live events, develop a clear budget that includes a contingency fund for unexpected costs. Track expenses closely, negotiate favourable rates with vendors, and regularly review your budget throughout the planning process.

It's rare for a live event to be fully covered by the cost of attendance for some live events like concerts ticket sales typically make up less than 10% of the overall budget. As such focus on finding alternative revenue streams for the event based on it's type. For almost all events Sponsorships are a big part of the budget. When looking for event sponsors be sure to conduct market research on the audience and type of event to identify the best sponsors to approach. By aligning the sponsors with the event type and focus you open up opportunities for greater revenue amounts. Additionally, identify if the event is appropriate for exhibitors or outside for profit vendors, as the fees they pay to attend can also drive revenue.

Utilizing technology such as digital ticketing can be a huge boon for controlling cost. First time event planners often times underestimate the cost of printing thousands of hard-copy items for an event. Besides ticketing, consider utilizing digital programs such Guidebook or Cvent, as a way for attendees to stay up-to-date with all of the events. These apps also provide ample opportunities for pre and post event surveys.