Event management consultations are the backbone of your event business. It’s part of your onboarding process and lays the foundation for everything you do.
However, if you’ve transitioned from employee to business owner there may be a few traps that you’re unaware of so…
I’ve done a lot of event management consultations and I’ve found there are 3 traps to avoid:
1. Free Event Management Estimate
When you’re talking about an event management consultation the words “free estimate” should never cross your lips! This is a trap and one that has put many event planners out of business because you get burned out running around giving free event planning ideas and advice. I never go to a client’s office unless they’ve agreed to pay my consultation fee, which I roll into their overall budget so it’s not an additional expense to them when they hire me.
This consultation is not to be confused with having an initial meeting to determine whether or not you’re the right planner for the client and their event.
2. Event Planning Budget
Don’t fall into the trap of stating what you think an event will cost before you do your homework and set up an event budget, even if your event planning client asks. It’s your job to give an estimate and event proposal and this is the perfect place to under-promise and over-deliver!
But, you can say something like, “I planned an event recently that sounds similar, and the client paid approximately $100,000. But let me put together a more accurate event budget for you based on your needs and the information we’ve discussed today and get back to you.”
If a client really pushes for a ‘bottom line” then you can mention previous events you’ve planned or worked on.
It’s also acceptable to ask your client if they’re considering other event planners and what qualities they’d consider being the best fit for them and their event.
Knowing this information will put you in a much better position when making any recommendations.
3. Don’t Pay Vendors
Most people have the impression that event planners show up on-site with an entourage of staff and vendors to quickly whip up a fantastic event. Event planning in the real world is definitely not that quick nor is it that seamless!
It’s common to recommend services like catering and room décor for an event.
However, you don’t want to fall into the trap of paying for all these services and then hope that your client will pay you. One of the joys of running an event or event planning business (if you structure it right) is that you have no accounts receivables (people who owe you money) because you get paid in advance or at the time of service and you act as the liaison between your event client and the vendors.
The event management business is full of traps that must be avoided if you want to succeed.
For help growing and running a profitable event planning business, check out our online courses here.
These are just three traps that business owners run into…
What event management consultation traps have you seen or experienced?
I’d love to hear your thoughts in the comment box below…
To your success,