Wednesday, December 21, 2011

Small Business Idea #641: How To Start An Event Management Business

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Small Business Ideas and OpportunitiesYou may have been working in events planning for a while. You feel you’ve gone as far as you can in the company you work at and feel you’re now ready to become self-employed. There are many things to think about when looking into how to start an event management business.

Being effective in event management means being able to combine a whole load of different skills. First-rate communication skills are key. A lot of your work involves dealing with people (both customers and suppliers), so you must well, be passionate about working with people and have excellent networking abilities. Being well-organized and good at making decisions, as well as having a creative outlook are also very important. These are also the kind of skills needed when self-employed.

You may have a few ideas sketched out about what you want to do, but you need to make these more formal. A strategic business plan is a vital component in making any new company. You’ll have a lot to think about and work out. Your objectives, target clientele, type of services you are offering will be among the plethora of items to be considered.

Once you’ve decided exactly what you want to do and how you’re going to do it, it’s time to announce yourself to the rest of the world! You may already have a database of potential customers, and now you can approach them. But there will plenty more who may not have heard of you so it’s time to get out and about. Trade shows are an excellent place to find possible customers. Make sure you take a case load of your business cards with you. Also, look into other outlets for advertising such as related publications and websites.

Of course, advertising and stationery such as calling cards are not cheap. But they are inevitable costs involved in setting up a company. They’ll also be a lot of legal fees, permits and other red tape that involves fees. On top of that there’s your office furniture, computer, printer, telephones etc. You’ll need a website. Again this is a necessary expense, but one that will work for you, if used effectively. Also, keep an eye on the websites of your competitors to see what they’re up to!

Many people are attracted to the idea of running an events company, but have no experience. If that’s the case, you do need to get some, to understand how the business operates. And how to do the job! There are a lot of courses on offer for those who prefer to learn through college. Alternatively, apply for an entry level position at a specialist company.

There’s certainly a lot to do when finding out how to start an event management business. Once you are up and running, you will find it’s an incredibly rewarding career. If you’re looking for something to challenge yourself, while working closing with others, this may just be the job for you.

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