Young Upstarts

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Set Up An Event: 5 Key Tips For Planning Your First Business Event

Did you know that over 70% of businesses set aside a budget for marketing events in 2017?

And while you may be part of this percentile for the upcoming year, there are a lot of things to take into account when you’re planning events.

From table rentals to decorations, you can find yourself spending a huge amount of money if you don’t plan correctly.

Let’s face it. It’s important to stick to your budget when planning a business event. Here are 5 key tips on how to set up an event for your business.

1. Develop a Goal.

If you want to set up an event, determining your goal is going to be detrimental to its success.

Whether you’re trying to raise company morale or reach a fundraising goal, figure out your “why” first.

2. Pick a Team.

When you want to set up an event, you can’t do it all by yourself.

That’s why it’s important to figure out who is going to be on your team. Assign a lead event coordinator and chairpersons to figure out the following:

  • Venue
  • Entertainment
  • Sponsorship
  • Volunteers
  • Key-note speakers

3. Budget.

When it comes to learning how to set up an event, you can’t just “wing” it.

You will find yourself overspending on products and services that you can just utilize in-house. Creating a spreadsheet can help you manage exactly how much you are spending on the event.

Here are a couple of expenditures to consider:

Venue Whether you decide to rent a clubhouse or a beautiful banquet hall, it’s important to calculate the rental, insurance, and security deposit.

Food & Beverages Some catering companies allow you to buy in bulk in case there are some guests that cancel last minute.

Marketing If you plan on having a prestigious event, set aside a budget for digital marketing in order to accumulate more guests.

Miscellaneous No matter how good you are at event planning, miscellaneous expenses come up. Be sure to set aside an emergency fund just in case.

4. Date.

Choosing the perfect date is one of the most important steps when trying to set up an event.

You want to make sure that you give you (and your guests) enough time to plan ahead.

In addition, you want to make sure that you avoid any major holidays so that it doesn’t clash with already scheduled plans.

5. Publicize It.

If you want to plan an event the right way, make sure that you create a publicity plan.

Whether it be through Facebook groups or press connections, you want to be sure to get the people in the door.

How to Set Up an Event and More.

Whether you’re wanting to learn more about how to set up an event or are looking to expand your knowledge base on entrepreneurship, we’re here to help.

We know how important it is to start your own business. Fortunately, we’ve put together the perfect platform that has informational resources for those looking to start their own company.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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