When planning an event, what do you consider the most important aspects? Having fun? Learning? Growing? Okay, all true, but what’s another significant part? How about saving money and staying within your budget?
Chances are if it’s not you, then someone else in your organization sees saving money and hitting your event budget as pretty important. Therefore it’s something you should probably spend some time focusing on. To help, here are 5 things you can do to save a little cash:
- Plan early. Actually, plan earlier than you think you should. Not only is it usually easier to get better deals when you plan early, it’s also easier to get what you want, when you want. If you leave it all to the last minute, you run the very real risk that everything might already be booked and/or more expensive. Think ahead.
- Be flexible. If your dates and times are flexible, it will be much easier to save money. The venue you’re booking might be cheaper during the week than on the weekends, or if you check-in on a Sunday night, or if you book for four days instead of three, etc. Don’t be afraid to ask the hotel or conference center for their best deals throughout the year and inquire about their least expensive times of year when booking. If you’re wanting to hold your event during high demand times be prepared to pay top dollar. Flexibility to take a lower demand date will definitely help you to save money.
- Do your research. It is usually easier to save money if you explore multiple options instead of just booking the first one you find. Submit RFP’s (requests for proposals) to multiple hotels/conference centers, entertainment companies, catering companies, etc and then compare to see who has what you want at the price you’re looking to spend.
- Use connections. If you have a friend in the DJ business, see if he or she can hook you up with a deal, instead of hiring a stranger. This concept goes for anything from caterers to party planning companies to audio/visual equipment vendors to, again, venues. Friends, friends of friends, and old business associates are much more likely to charge you a fair rate, or even give you a discount. Don’t be afraid to ask.
- Focus on the budget. Really look at your budget at all times. Once you create your event’s expense budget, try everything possible not to spend money on something you did not budget for. This will, to no surprise, help you stay within your (probably tight) budget.
What other money saving tips have you found to be helpful? Let us know by commenting below!