Tips for Planning an Event | Signal Events

Tips for Planning an Event and Staying within Budget

 

Planning a business event can be costly. Many people end up spending far more money on their events than they had anticipated. The good news is that you can have a successful event that reaches a lot of people and keep the costs down. The key to doing so lies in doing your homework and taking your time with the planning. Making rushed decisions will often cost you more money, so slow it down and take it step by step.

 

There are business events that take place throughout Australia on a regular basis. From Perth to Brisbane and from Melbourne to Sydney, businesses hold annual events, awards ceremonies, conferences, training sessions, and more. Here are some tips for planning a business event and staying within budget:

 

  • Set a budget. Many people who are planning an event fail in this area. They throw the event, spend like crazy, and then look at what it cost them. Start with a realistic budget of what your business can afford to spend on the event. Having a set budget is the only way to actually be able to keep your event within it. Your budget should be realistic so that you can comfortably throw the event without feeling a major pinch.
  • Get multiple quotes. Always get multiple quotes for costs, whether it is for a venue, catering, or other expenses. This way you can compare what each will give you and how it fits into your budget. You would be surprised at how vastly different the costs can be from one company to another. Something like chairs and umbrellas, for example, can end up costing much more at one company as opposed to another one a few more minutes down the road.
  • Don’t skimp where it counts. There are some areas where you can save money, but others where you will want to ensure quality and not skimp. Areas where you want to focus on quality include your name badges, promotional products, and on the food. Those are things that attendees will always remember about the event. You want a memorable experience for attendees.
  • Seek trade.You can cut some costs by doing trade where it makes sense to do so. You may able to get some trade for marketing the event, for example. This way your event has the benefits it needs without the direct financial burden. Many companies will agree to trade agreements if both parties are going to get something out of it, so it never hurts to ask.
  • Track your expenses. Whether you are purchasing name badges, promotional products, or custom staff T-shirts for the event, be sure to track every expense. That’s the only way you will be able to keep track of how much has been spent and keep the event within budget.