I want to share with all of you my thoughts.
Today the event planner has to be a project manager dealing with everything, from the business plan to budgeting, from marketing to master plan developing etc. I promote dancing events and small festivals where the revenue comes only from tickets and sponsors.
With this regard I would like to share with you two doubts I have:
When I don’t work for third party companies and I don’t have a fixed budget I take in consideration that the costs of the event determinate the price of the tickets and not the opposite. Do you agree with me on this?
My second doubt is about the structure and timing of the event planning.
Usually one of the first things I do is the business plan, as part of the business plan there is the budgeting. Here is my doubt:
If you want to make an accurate budget analysis in your business plan you need to request the quotation from all the suppliers involved, which means that before writing the business plan you have to contact the suppliers. However to have a good understanding of what kind of suppliers are involved you need the business plan. My question is, at which stage of the event planning you usually deal with the budgeting? In general when you promote an event which criteria do you use to estimate a realistic budget? And, do you take in consideration potential sponsors even at on the first draft budget even if you don’t have any agreement with sponsors yet?
I know it is quite complicated but I would love to have your opinion.