An Event Management start-up
Today we will look at what is involved in starting ‘Event Management’ as a viable business and its scope for the future. Starting Event management as a business is an admirable undertaking which promises great success, if managed well. Like every other industry, event management has its own set of difficulties and benefits, that demand to be handled with expertise.
Memorable events don’t just happen, they are created with precise planning and foresight. Whatever the event is, whether it’s a conference, or a birthday, and whether you have five days to plan or six months, your event’s success is in the details.
Event planning services can be corporate or social. Corporate events can be meetings or conferences for organizations like companies, charities, and nonprofit organizations. While, social events can be children’s parties, reunions, weddings, birthdays, anniversary parties and so on.
The skills and qualities needed
There are several qualities you must hone to become a successful event manager. Here are five of the most important qualities you must concentrate on, to ensure excellence:
- Proactive time management
- Determination and sobriety.
The events industry has grown exponentially in the past decade and is now estimated to be a $500 industry annually around the globe. Having some past experience in this field will equip you with the knowledge and skills necessary to break ice as an event management professional. Knowing the right people and vendors is more important than the formal education in this field.
The initial finances
Event management is a smart venture that does not require heavy funding. While there are organizational expenses like, anevent management tools, office, website development, staff salaries, and marketing, it is always possible to source money for these expenses directly from your clients. This makes event management firms pretty light as far as startups are concerned, but you’re still going need to spend money for the following :
- A professional office space
- Office equipment like smartphones, tablets, computers, office supplies, etc.
- Licensing and Taxes
- Communications costs such as Internet / Mobile fees
- Legal / Accounting Fees
- Miscellaneous expenses
Create a team
In order to establish yourself in this field, you’ll need to create your own network of business contacts, vendors, venue owners, event planners and partners. It is very crucial to know the right people. Because it can mean the difference between hard work and smart work for a new event management firm.
You will also need to create a team of dedicated people who share your vision. Though most of your events will be managed by volunteers, assembling a great team is crucial. A few dependable individuals who can use their talents and abilities to enhance the services offered, will help you grow exponentially.
Marketing your Event management services
The first thing which you need to do is offering to manage events for your close friends, family and co-workers. Apart from this you will also need other avenues to advertise. They include – local newspapers, fliers, billboards, and online; as well as development of your website. Once your business plan, your management team and your financial sources are in place, your next move is to start marketing your firm and its services.
Your web marketing strategy
It is very important to have a website with professional-look for your organization.
Your website will serve as an online portfolio of your venture. Better the presentation of your website, Better the chances of getting new clients. It’s therefore important that your website makes a good a first impression. A good website is of no use if it is not searchable on internet. In order to make a website searchable, the URL needs to be short and catchy. It also needs to be optimized for local search, and should be easily navigable. The website should include your contact information, previous experience – photos from and information about past events, services that you offer, testimonials from satisfied clients, and details about you and your company.
It is absolutely mandatory to have a Facebook page and a Twitter account. These will allow you to connect with both attendees and clients. You can post updates about your events, photos and general information about your business. Most of the information is fairly common sense once you get into it, but it’s still handy to know.
Know your customers
In any case, it’s important that you identify the kind of clients you primarily serve. A firm that’s geared towards weddings and birthdays is going to have a website and social media presence vastly different from the one that primarily handles corporate meetups. A bit of market research will give you a clearer idea about your target clients. After getting armed with this understanding you can create a marketing campaign that is tailored to catch their attention.
I am sure if you have knack for running event management business you will enjoy your work for lifetime. Successful examples of Event Management in India include, ‘Precept D Mark’ and ‘Wizcraft’ from Mumbai, ‘DNA Entertainment Works’ from Bengaluru and SITA and E Factor Entertainment from Delhi.
Some useful links
For more extensive reading regarding event management and everything involved with it, please check out the following links where you can get ebooks on the topic, which can be downloaded immediately.