05:50
Faizan
When planning an event, the first thing you should do is plan your budget. Events always require a serious financial investment. Create a rough estimate of the costs of the event. Make sure you get your budget approved by any necessary higher-ups before you get too deep into the planning of your event.
Get preliminary estimates from potential suppliers early in the planning process. You can firm up these estimates after your preliminary budget is approves. Remember to err on the side of caution - if you are given a range of prices, use the higher estimates just in case.
Your preliminary budget should include the biggest costs for the event. These include:
Venue rental
Accommodation and transportation (if necessary)
Food and drinks
Invitations, place cards, and other printed materials
Decorations, flowers
Staff requirements
Music
Entertainment
Photographer
Sound and lighting requirements (if any)
Power requirements (if any)
Insurance (if required)
Security (if required)
Make a complete list of all possible expenses. Highlight any "must have" items from that list. These must have items should be included in your preliminary budget. You should then contact possible suppliers to get ballpark estimates for these items.
Once you have your preliminary cost estimates, compare it to your overall budget. If your list of "must have" items costs more than your budget, you may have to re-think your event. If your preliminary cost estimates is lower than your budget, then you can begin to add in optional items.
After working through your budget, you should always seriously consider whether you can afford to hold the event or not. It is usually better to put off an event rather than go forward with a shoddy event on a low budget.
Get preliminary estimates from potential suppliers early in the planning process. You can firm up these estimates after your preliminary budget is approves. Remember to err on the side of caution - if you are given a range of prices, use the higher estimates just in case.
Your preliminary budget should include the biggest costs for the event. These include:
Venue rental
Accommodation and transportation (if necessary)
Food and drinks
Invitations, place cards, and other printed materials
Decorations, flowers
Staff requirements
Music
Entertainment
Photographer
Sound and lighting requirements (if any)
Power requirements (if any)
Insurance (if required)
Security (if required)
Make a complete list of all possible expenses. Highlight any "must have" items from that list. These must have items should be included in your preliminary budget. You should then contact possible suppliers to get ballpark estimates for these items.
Once you have your preliminary cost estimates, compare it to your overall budget. If your list of "must have" items costs more than your budget, you may have to re-think your event. If your preliminary cost estimates is lower than your budget, then you can begin to add in optional items.
After working through your budget, you should always seriously consider whether you can afford to hold the event or not. It is usually better to put off an event rather than go forward with a shoddy event on a low budget.
Posted in: business
