Planning a massive event is a demanding task. You as an event professional sure knows how challenging it can get. Unanticipated incidences and last-minute surprises may crop up and these cannot be overlooked but have to be handled carefully.
The key is to accept that such untoward incidences occur in your business and you need to stay prepared to overcome them.
So, to be prepared, we’ve compiled 4 most common challenges event planners face with tips to resolve them. Let’s get started:
Challenge 1. Overspending/Lack of Funds
Event planners need to pay upfront for the services they take or equipment they hire to put up an event.
They later claim expenses and ask their clients for reimbursements. The payments don’t happen immediately and may take weeks or months after the event.
This can become an issue, when event planners use their working capital and go on a spending spree without tracking their expenses. The time they realize they went overboard is when they figure out that they have no money left to pull off the event.
Solution: Create a budget. Research on what you need to purchase or what services you need for the event. Create a spreadsheet of the estimated costs and the total budget. Make sure you discuss it with your team before finalizing it.
If you have a game-changing event to plan and you find yourself in a cash crunch situation, unsecured loans for businesses can pull you out of the situation.
Challenge 2: Too Much to Do, Too Little Time
As an event planner, you’ll find yourself always battling with the clock. Because in your business, there’s so much going on and at any time, anything can go wrong. You simply cannot ignore the uncertainty, but you must take into account that things could go wrong and that you need to stay prepared.
Solution: Start planning much in advance. Create and maintain a calendar. Your calendar should have a list of all the tasks involved to put up an event. Each task needs to have a deadline. While setting the deadline, consider minor setbacks that may happen, so keep a buffer to be on the safer side.
Challenge 3: Handling Too Many Things at a Time
Planning an event is not an easy task. There are too many little things, if not taken care of can ruin your event.
Solution: Gather your event team and delegate tasks to them. Check in every week to see how things are moving. By delegating responsibilities, you are making your team accountable for the task assigned. So, there are fewer chances of missing out on these small details.
Challenge 4: To Make the Event Memorable
That’s a dream of every event planner – to provide an unforgettable experience for their guests.
Solution: Make it a fun experience for your guests. Include an activity that’s exciting to keep your guests engaged throughout the event and even after it.
An event planner’s job is tough. They have to juggle between tasks. But by being prepared to face the challenges that come their way is a great way to pull off a successful event.
Author Bio
Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at shiv@moneytap.com.