6 Things Often Overlooked When Planning Business Events

Published on 27th January 2021 in Blog, Conference & Events

 

Instead of seeking agents for ‘fast-food events’, more and more SMEs (small and medium enterprises) are trying to plan their business events on their own. The internal talents understand the brand much better than external agents. Therefore DIY the events is usually of better effectiveness in terms of the event results.

However, the truth is cold as marble – business event planning is exhausting. There is no need chattering the commonly understood troubles. Based on our experience with various organizations, we have listed seven things that internal event planners tend to neglect when planning a business event.

 

SMART Goal Defining

Always start with strategy. Indeed defining the explicit goals are the premise of setting proper evaluation criteria – which becomes essential when telling whether an event is successful or not. The goals should be specific, measurable, achievable, realistic and time-bounded, i.e. SMART. They are based on the management layer’s strategic decisions, explicitly indicating the desired results.

The SMART goals are also helpful in prioritizing the tasks. Strategic prioritization will optimize the allocation of critical resources – it makes sure the efforts are precisely aiming at particular goals.

 

Feasible Budgeting

Events are costly – it is the basic fact that often get overlooked when planning an event. A feasible ‘financing plan’ for the event will ensure the resource allocation is on consensus.

Event venue booking accounts for a significant part of the expenses. The event packages available at Peppers Moonah Links Resort make things simple and straightforward. We can make changes flexibly to facilitate your events with the extra fees explained in advance. There will not be hidden costs in any sense – in that way you can have an exact cost structure which avoids overspending issues from happening.

 

Raising Fund

As business events sometimes have multiple sources of stakeholders, there might be potential funds raised from business partners (e.g., the sponsors). Splitting the event costs and sharing the event benefits is a win-win solution for everyone. An event is perfect timing for organizations to present themselves. In that sense, choosing the right event venue that suits yours and the sponsors’ brand images is critical.

 

Forming The Event Planning Team

Teamwork is always more efficient than individuals, especially when it comes to event planning. Collaborating with colleagues will potentially enrich planners insights. It will be more efficient if the team members have been selected at the beginning. Make sure you have included diversified and necessary skillsets when forming the team.

 

Scheduling The Checkpoints of The Project

A well-organized event planning project management requires planners to monitor the progress closely. Scheduling the checkpoints will help planners understand the current situation – e.g., whether the project has been laggard or not. The self-examination through checkpoints allows event planning team to fix things before too late.

 

Contingency Principle

The unforeseeable issues may happen during the event planning – the backup plan or procedure is necessary. Contingency principle will prevent the panic from spreading, even the decision-making process under emergency might be different from the usual chain-of-command. The person in charge should be fully authorized to mitigate the negative impacts of the contingency.

 

Plan Business Events

 

The six things we have here are just tips of the iceberg. As the cold truth at the beginning, planning a business event is exhausting. Here at Peppers Moonah Links Resort, our experienced event coordinator will assist you wholeheartedly. Please visit our Conference & Events Page, check our Conference Compendium, send us an enquiry via email or contact our Conference & Events team on (03) 5988 2080 when you plan the business events. You are not alone. 😊

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