A lot is at risk when planning an event. More often than not, you’re putting all your work, faith and hard-earned money into something that won’t happen for weeks, months or even years. One simple misstep can quickly turn a smooth sailing venture into a disaster, potentially affecting relationships with team members, important stakeholders or clients.
Whether you’re in the process of planning your next corporate event or looking to improve your skills for future endeavours, read on to discover the most common event planning mistakes and how to avoid them.
1. Secure your supplier deposits
While every event supplier is different, you’ll be hard pressed to find one that doesn’t need a deposit and rightfully so. These should to be worked into your budget accordingly.
However, be aware of the difference between reasonable and unrealistic deposits. Understanding the finer details of your cashflow and reserves will prepare you for a fair and reasonable negotiation of supplier deposit amounts and timelines. Be prepared to renegotiate the terms of service before you sign the contract if a deposit is unreasonably high or unexpected.
2. Triple check contracts
We can’t stress this enough – don’t forget to triple check all your contracts! Contracts for accommodation, food and beverage packages are particularly notorious for having the devil in the details.
Remember that your suppliers are businesses too. They don’t want to be left in the lurch if something changes with your event. Double check that your contract allows you to cut back realistically on numbers should your event circumstances change. Not just rooms, as minimum catering numbers are often overlooked. No point committing to 300 attendees at a dinner 12 months out and then having to shell out for 300 when you only have 200 attendees on the day..
Think you’ve checked everything? Go back and check again.
3. Understand seasonal changes
The more you understand seasonal fluctuations in your industry, the more money you stand to save.
For example, high summer in major European cities can often be the best time to negotiate great deals for corporate events. Although this is peak tourist season, it’s often an off-peak time for local corporates and commerce, so those deluxe city hotels are on the look out for opportunities. Long weekends in major cities away from popular holiday destinations can also mean reduced rates for your event.
Similarly, booking events outside school holiday times can lock in great deals at resorts experiencing a lull in patrons.
A bit of simple planning around seasonal price changes means you can secure incredible deals for your event,.
4. Be prepared for anything
With so many moving parts, any number of things can happen with events.
The best way you can reduce your stress levels and secure your event’s success is to remember one thing: be prepared for anything. Drop off in guest numbers? Know your contractual obligations. Event space rained out or cancelled? Have back-up plans and insurance at the ready. Last minute accommodation needed? Make sure you have a contingency plan.
Many organisations, associations and corporates overlook risk management procedures and planning, all to their detriment. We’ve seen unprepared clients pay hundreds of thousands of dollars due to poor planning and under-insurance for their events.
Don’t be caught out, and always be prepared for the unexpected.
The events industry is rife with potential dangers, especially if you overlook important details. By working with a professional event organiser like Impact Events, you can leave all the finer details to someone else! Let us do the hard work for you, get in touch with our team of expert event organisers today.