Business

Corporate Event Planning: Things to Know

Every business owner wants to establish a long-lasting relationship with their employees. One of the ways to do it is by having a corporate event. 

Whether it’s a product launch event that involves 300 people or training for 15, the best way to approach this is to understand things first about event management. 

Luckily, if you have held a business event in the past, most likely, you’re already used to the things you must do in preparation. However, if you’re reading this article because it’s your first time and you’re not sure about the way forward, then here are some of the things you need to know first before hosting your first event. 

1. Identify the type of corporate event you will host 

Of course, this is pretty obvious. Every event has a purpose. Will you be hosting a trade show and invite other businesses and other parties who are interested? Or will you have a product reveal to focus the event on your business and the items you sell? 

This is the first step you must do because the business event you’ll be doing will depend on your resources and business goals. Once you have decided about the purpose of your business event, it’ll be easier for you to put in place the needed arrangements, even the booking of a venue, inviting the key demographic, and setting the staffing. 

2. Determine your realistic budget 

people inside stadium

You must know how much money you can work with to know what sort of event you can produce. You must know ahead of time how much you want to spend and then prepare on sending at least 10% more. 

Things will always change and you must have an extra budget in case added and unforeseen expenses pop up. After having your budget, determining where you can allocate most of your resources is crucial. For instance, if you use more money on fancy decors than you do on hiring a professional tech crew or personable speakers, it may result in an event lacking in substance. 

3. Create a project timeline 

Creating the event necessitates you to keep track of a wide range of tasks. This may be facilitated by establishing a master detailed checklist. There are brand new, tech-savvy tools that can help you organize and simplify the management of dozens or even hundreds of small details. 

Having a complete planning checklist will serve as a great tool to navigate and guide you on the planning process. 

4. Check your schedule 

photo of empty room with projector screen

It’s not recommended for you to schedule an event that’s close to the time when everyone and you will be very busy. You don’t want to feel burned out in the process. Also, avoid scheduling the event on a public holiday, or at a time when other business events are taking place because people will most likely not turn up. 

You must check your calendar and come up with a time that’s not only good for yourself but also for the people you wish to invite. In this way, you get to start the marketing process to hype up the event you’ll be doing. 

5. Consider funding for your event

In relation to the budget, this is something really important to consider when trying to lessen the damage to your own cash reserves. 

Try to explore crowdfunding, short-term loans, and sponsorships which are some of the best ways to find funding for your event. 

6. Look for the best venue 

If your business premises are large enough to accommodate the event, then that’s great. However, if not, go look for a venue that suits your needs. 

Catering should also be considered since some venues will have their own caterers, so try to include this into your research if you want to make your life a bit easier for yourself. 

Once you’ve booked the venue, you’ll be able to concentrate on other things. It’s crucial that you make this as a priority earlier before the best venues get taken by other people. 

7. Ask your team for help 

Don’t do everything by yourself. To run the event successfully, you may want to build an event planning team coming from your employees. Cooperate and work with them on every aspect we’ve discussed above. 

Try to delegate duties to each person before the day of the event, provide them with a list of things they should accomplish. Assign people to some aspects of your marketing plan, for instance, some will handle the entertainment, others are in charge of catering. 

If anything else fails, it’s time that you consider an events management specialist or a corporate event planner to help you with the job.

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