Event Development (continued)

“The following is a continuation of my Event Development Series. Several months ago I started the series with the first section, “Initial Development” The second section is entitled “Research and Preliminary Planning”. Now that you and your team has decided to proceed with the event, it’s time to get serious! As suggested previously, any thoughts and idea are more then welcome!”

Research and Preliminary Planning

Money

You haven’t forgotten about the money have you? No matter how large or small your project, you’ll need “start-up” money! You can’t ignore this part! You must let everyone in your group know that “seed” money will be required and exactly how much you will need. And, this should be determined BEFORE starting the project! The seed money includes any monies you will spend before income starts coming in. And, you have to be prepared for a loss, especially in today’s economic climate! There should now be any surprises. You need to thoroughly research your costs. Don’t minimize the amount to need. If anything, inflate your projected amount by 10 or 15 percent! It will save you a lot of grief in the long run! Remember too, the larger the project, the more you will likely need. So, what are the costs you could incur? I think it’s bets to put them into two categories, “Monies needed before the event” and “Monies needed during the event”. Next week I’ll talk about “Monies needed before the event”.