Last updated on September 17th, 2017 at 09:26 am
It is no secret that planning a corporate event can put a strain on your financial resources so that it can be quite the struggle. This is especially true if you have to stick to a tight budget.
So what can you do? After all, it is not exactly convenient to have to give up on event additions that are vital to ensuring your guests have a good time. Well, whether you like it or not, some sacrifices will have to be made.
Fortunately for you, the concept of corporate events is not something new. Such festivities were also organized in the past, particularly during the Great Depression. They just had a different name. Now, we all know that money was scarce during that period, so how did the people manage to handle something like this back then?
Here are four lessons history has taught us about organizing a corporate event on a tight budget:
1. The right booking date can make much difference
We are going to come out and explicitly state that we know how much better it is to attend an event that is hosted during the weekend. It is more convenient, and you, at least, know that people will not be too tired to attend. However, it is also more expensive. That, and you’ll have to book ahead of time, something that can be a problem when you are not able to calculate how much money you can allocate.
While it might not be too convenient to host a corporate event on a Wednesday or Thursday, it is significantly more cost-efficient. You can even make an exception for your employees and make the next work day shorter.
2. Don’t purchase anything on impulse
Always stick to the budget you have set for your corporate event and never deviate from it, at least if you want to ensure you do not spend too much money.
While some expensive additions might seem like they will make your event better, it is best to save your money for the entertainment.
3. Don’t overdo it with the catering
In the Great Depression, people knew how scarce food was, so even during luxurious events, they treasured it. Our advice to you is to set a preliminary catering budget and slash it by 10%.
Let’s face it: More often than not, corporate events end up having more food than the guests eat. So let’s learn something from the past and save money by not ordering too much food.
This was harder to do in the past, but, nowadays, technology has made everything easier for us. So make sure you take full advantage of this.
Track, every single expense during each stage of the corporate event planning process, to make sure you manage to stick to the limits you set for your budget.
Know what made a corporate event a success during the Great Depression?
Even when the going gets tough, people need something to put a smile on their faces to help them forget about their problems.
Some event planners make this happen by investing in all sorts of decorations or extravagant themes. While that is a good idea, we have a better one: Entertainers. Skillful artists can quickly make your audience happy and distract them from any expenses you had to cut, thus allowing you to save some money on the event planning process.
This is why you should always keep most of your money for the entertainment. We recommend choosing somebody like Michael Harrison if you want your next event to be a success.
Be sure to get in touch with us if you have any other questions about the rest of our entertainers.