How to start your own event management company
Recently I decided to start my own event management company. I’ve worked in events for more than ten years and I thought, hey why not starting my own business! Well after that, things became a bit difficult because I did not know how to start an event management company.
So I decided to have a look around. Bought few books, saw few websites of famous planning agencies and tried to put few ideas down. After that I thought that my blog could have been of great use to help me in organizing my thoughts and maybe share some tips.
UPDATE: This is a brainstorming article I wrote in 2007. My career evolved differently but it is still a valid roadmap for those who want to start
Therefore here are the thirst thoughts I had about running an event management company:
I need to find my specialty. I’ve organized disco nights and congresses with up to 300 delegates. These are my specialties. Nonetheless, I am really interested in wedding planning as I see big potential in the sector. Plus the region where I live in Italy would really fit for this kind of business.
I read somewhere during my MBA that small business need to focus on few specific core competencies and in this case my core competency would be conferences.
I need people around me able to do what I am not. I am a marketing person and an advanced control freak. In an hypothetic event management business I’d need to cover:
Creativity skills. For Event Design
Accounting skills. For Budgeting
Control skills. For logistics
Risk Management skills. For security purposes.
Computer Skills. For ad materials (eg. Brochures, Flyers) and online production (websites)
Marketing Skills. For pricing, promotion and event delivery
Selling Skills. To find new clients.
I am positive I could manage few aspects of the above, but what happen to the rest of them. I decided that while I’ll have some time I’d look for quick education with short focused courses. If the areas are particularly delicate, such as accounting, I’ll outsource the function or hire a part time, or better I’ll look at local universities for some student willing to help out.
Well these are my starting thoughts. Any other suggestion?
Photo by @giovanni