Budgets
Posted on
Okay, so let's talk about event budgets.
Hi, my name's Kelly and I am the director of ME4 events, and I've been in the event industry for over 25 years.
So you're holding an event, you've got a certain amount of money to play with, and you dont know where the best places are to spend your money. Remember, make sure it's not all about the fluffy stuff.
You need to make sure you've got the right team of people that are going to do the right job for you. Sometimes spending a little bit more on the infrastructure of the actual event is better than buying that balloon arch. Make sure if you buy all that fluffy stuff you can then reuse it for different parts within your event.
Things like if you are going to have a photo wall opportunity, what about making sure that you get people to pay for sponsorship on that wall? You're then looking at getting extra revenue in to add to your budgets. And then people who are attending are getting an advert for people to see. Always make sure you have got a contingency budget because remember, some contractors might have hidden terms and conditions, so if there is something that overruns, you might end up with an extra invoice at the end.
So make sure you don't get stuck with a big bill right at the end. When you've spent all of your money, make sure you check your quote. And really read exactly what it is that that person is giving to you as their service.
Remember, don't assume that they know exactly what you actually want, What you think you actually want, and they think is what you are asking for might not be the same thing. That could be the difference of an extra a hundred pound on your bill. And remember, whatever you do, get everything in writing.
If you have a conversation with a contractor on the phone, make sure you follow it up with an email with everything you've spoken about, so then there's gonna be no one questioning exactly what you have asked for, haven't asked for, or what you might have changed. I hope that helps.
