Great tips for those at the conference Crossroads – Part 4 – The budget cont..
Great tips for those at the conference Crossroads – Part 4 – The budget continued
This is our series of articles, helping you as a professional events co-ordinator or possibly just someone who the Boss has asked to plan your next annual conference, with some useful tips on planning a successful event. This article is the second half of Part 4, which is the creation of a budget – a vitally important aspect of any conference planning. Having established Step 1, whether you have a fixed budget or you need to create one and whether you may be able to bring in sponsors or not – and Step 2, made a list of all the cost items in detail and established at least a rough idea of costs – we move on to the next part. So this is ‘Great tips for those at the conference Crossroads – Part 4 – The budget continued’ …
Step 3 – Identify fixed costs – I.E. Venue, equipment, entertainment/speakers etc. – and variable costs – like the number of delegates and choice of menus etc. – as these will be where you may be able to be flexible if you need to.
Step 4 – Now take sponsored income and deduct it from overall costs to assess the budget that the company needs to assign. If this is too much, then the company may decide to charge delegates to make up the shortfall, or you go back to the drawing board to reduce costs until you have a viable budget with which to make the event, as envisaged, a reality.
Step 5 – If you have created a committee to help you, ensure everyone has the budget and understands the responsibility they have to stick to it!
We will continue in our next article with further steps on how to plan a perfect conference, but you could also save yourself a lot of trouble and partner with a great conference venue that will do much of the planning for you! The Crossroads Hotel in Lilongwe, Malawi is just such a place and what a great destination for a conference with a difference?
Malawi is one of Africa’s premier tourist destinations and the Crossroads Hotel is its premier conference venue offering a variety of state of the art facilities – from intimate meetings in plush boardrooms to state receptions in massive reception areas. The Executive Chef will consult on special menus and catering to ensure that your event is a culinary success too!
Watch this space for more great tips for those at the conference Crossroads and Contact us to learn more and make your next conference a seamless, effortless, expertly run event!