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How to manage your event budget

It’s easy to get carried away when planning an event. However, effective budget management is a crucial part of delivering a successful conference, party or brand launch. Here are a few tips to help you plan a successful event, whatever size budget you’re working with.

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Planning ahead is crucial

Whether your budget is in the hundreds or thousands, planning ahead is essential. You need to know early on what you can achieve on your budget. You’ll also need to book venues and catering services early to secure the best price. Planning ahead also gives you the chance to shop around and budget for the extras, such as décor, entertainment, marketing collateral, and ticketing. Other things to consider include ticket pricing and transportation. You’ll also need to think about any health and safety aspects. These requirements will differ depending on the event and where it is being held, but Dublin City Council has issued some general guidance on things to consider

Keep track of your spending at every stage

If you’re planning an event that is several months away, it’s important to keep track of your spending so it doesn’t get out of hand. Set up a spreadsheet that lists all the necessary items and make a note of all expenditures as they occur. As the event nears, you might need to reallocate funds to different areas or find money for an unexpected expense or surprise cost, so always keep some surplus in reserve in case something crops up for which you hadn’t budgeted.

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Call in the professionals

If you want to really maximise your budget, it’s worth considering hiring the services of an events agency. Professional event planners will be full of creative ideas that ensure that your guests get the “wow” factor, even if you’re working with a limited budget. Whether you’re staying local or venturing overseas, an events agency in Dublin, London, Edinburgh, Cardiff, or elsewhere, such as, http://davisevents.ie/, will be able to help you to deliver a memorable experience of any size and in any location.

Spending a lot of money on an event does not guarantee it’s going to be a success. It’s far more important to plan ahead, effectively manage the budget you have, and shop around to ensure you get the most bang for your buck.

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