The Initial Capital
Money Talks!
As with any business, one cannot start an event management business without shelling out a few hundred bucks initially. It is good when you had something saved up, but for some of us, coughing up the initial capital is difficult.
Borrowing money - banks and loan sharks charge interest, and set time frames for loans. You can take this positively, and use the pressure to drive the initial campaign. Or, you can buckle and not avail of these. The latter attitude isn’t recommended, though, as you must use whatever cash you can get your hands on wisely and quickly to increase sales.
What to spend on?
Your event planning business generally depends on your personality and powers of persuasion, but you must spend on a few things to really make a splash.
1. Promo materials - Business cards, Banners and a Website. A nice business name isn’t enough, it must catch on and latch permanently on people’s minds. You can do that by being visible in parties and giving out cards. You can drop your card on fishbowls and hope that a prospect picks it up.
Do whatever you wish with your promotional materials, but you must spend on them. A good printer and a knowledge of the basics of Photoshop will get you far, but the effort to learn could take you longer than necessary. Professional services are still the best option, as you can put out your concept without the frustration of not getting it right.
Here’s a link to get you started on your business card design, and your business per se. Did I mention that it’s free? Check it out at Bizcard.
2. Yourself - Get a facial, fix the hair. You can even test out a new hairstyle before actually going to the salon and making the irrevocable step to a new hairdo (Visit TheHairStyler.com). Buy new tasteful clothes. And don’t forget the make up.
How you look will ultimately determine if a person patronizes you or not. Even if the concept of ‘looks-first’ is shallow, it is reality. People will trust people who smell and look like successes. They must admire you for your looks, and then you wow them with your skills.
Bags are definitely a must! More often than not, your bag’s design will get you in a conversation with a stranger, and is usually the first thing people see when you approach.
3. Affiliate program for friends - your friends probably won’t mind selling you to their other friends, but you can sweeten their efforts by giving them incentive. A 5% commission on each converted lead may seem too much, but if they tell a lot of people, you have access to markets and people that you would otherwise never have met. These, in turn could tell others, and that would be priceless for getting the word out about your start up.
4. Get Listed in Directories - Believe it or not, people still use these to find services. Online directories have lower rates than print ones but that soon may change with people revolutionizing their internet usage. Shelling out cash for a certain period of time in directories will get your business to those who are looking for numbers to call for their needs.
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