Small Business Owners’ Guide To Wise Risk-Taking

Although opening up a small business is a risk in itself, it takes additional risk-taking to grow that business. Taking risks is crucial for businesses to grow, whether they are expanding into new markets, opening new locations, reaching new customers or extending product lines. Sometimes, doing nothing is the biggest risk.

 

“Wise risk-taking for small business owners” by Rodney Lyle Turner, Our Place Melbourne, Melbourne Business Venue - info@ourplacemelbourne.com - 0412 898 363

Wise risk-taking for small business owners

To determine the best time to take a risk, you should weigh the potential costs of not doing anything about it with the potential benefits of taking the bullet. Here are the top five tips for wise risk taking for small businesses.

 

Identify your goals and their risks

 

First, determine your goals. Since more heads are better than one, identify key employees to participate in a brainstorming session to outline goals and assess the risks. Get your mentor in on this too if you have one.

 

Identify what you can afford to lose

 

Don’t go “all-in” and invest all your money on something you think might be successful. Ensure you have a buffer in case things go wrong, such as enough money to cover expenses through six months of reduced revenue. Smart risk taking for small businesses can mean taking small risks to test the water and examining results before taking a plunge with a bigger investment.

 

Plan in detail

 

A comprehensive plan that covers each step of the process is essential. Things to consider include funding the venture, ensuring the necessary supply of materials, training staff and marketing your efforts. Don’t rush the planning stage, it’s essential for managing risk and giving you a better chance of success.

 

Just DO it

 

Once all this is in place, you are ready to go ahead. As the new effort unfolds, keep careful watch to see if it’s meeting your expectations. It’s highly likely that some fine-tuning may be needed, but if you’ve paid careful attention to the previous three steps, your careful planning can help you identify corrective measures. Trial and error is an essential part of risk taking.

 

Review your process

 

Whether the risk you took produced the desired results or not, there will be something to learn from the outcome. You might learn that taking smaller risks first is a good idea for your company. Discuss the process with your original brainstorming team, as they’re likely the same people you will rely on when making future business-related decisions.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

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At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

Using Events To Achieve Your Business Goals

What are your business goals for the rest of the year?

 

Events are wonderfully flexible in accommodating all kinds of different business goals. Using events to promote your business is one of the best ways to get your name out there while connecting with your local market.

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Achieve your business goals through events

Here are some of the most popular goals and how events can help you achieve them:

 

1) Events are an effective way to fill your sales funnel with qualified leads.

If you’re going to run events primarily for lead generation purposes, then it’s important to get your sales team involved, so you have a long list of prospects to invite, and a really specific understanding of the types of people who should be there.

 

Another key tip here is to communicate regularly with any sign-ups, so the event stays top-of-mind despite everyone’s busy schedules, and they’re periodically reminded why they signed up in the first place. Keep communicating the value of the event, not just the logistics of when and where it takes place.

 

If the event is free, you should expect a reasonably high dropout rate, so either overbook the event or provide a waitlist, or consider charging people a minimal fee up-front.  You’d be surprised how even a small financial commitment will encourage people to turn up and reduce your expenses too.

 

2) Events are a brilliant way for any business to reinforce or create a brand message.

There’s a reason why fashion and lifestyle brands are huge proponents of launch parties and similar events that speak to the value of their brand or product. Events give these industries an avenue to connect their brand and/or product, as though it was a person. There is no reason why your business can’t use them to the same effect.

 

3) Events are a great way to educate a target audience

Grow your business with educational content. For some companies, the essential goal of an event is to educate their audience.

 

It may be that you’re an innovator of a relatively new or niche product/service, so you actually need to educate an entire market about the possibilities that your disruptive solutions offer. Webinars, workshops and training sessions are all good ways to reach this goal.

 

4) Events are an excellent way to retain customers/clients

Your business will thrive if you can retain customers/clients Events are also a brilliant way to improve your retention rates, by recognising key people and using the event as a way to say ‘thank you.’

 

Whether it’s staff, clients, partners or suppliers that you want to retain, events are a great way to extend a personal touch and make them feel special. Dinners, parties, brainstorming sessions or days out at an attraction can all be great tools for keeping everyone engaged and happy.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

Personal Development Tips For Small Business Owners

Personal development and self improvement can be catalysts of changes that bring further success to the future of your life and business. The more you grow, the better decisions you make and the more your business grows.

 

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Tips for Personal Development of Small Business Owners

 

Successful business owners know the value of self improvement and make it a part of their everyday lives.

There are a number of things you can do regularly to make personal development a key part of your everyday life to help both your personal life and business.

 

  1. Read more books

Reading exercises your brain. It improves your concentration and focus, expands your vocabulary, and helps you build better communication skills. It improves your creativity by opening your mind and allowing your brain to explore new ideas. By reading more you learn more.

 

  1. Work on time management

Most entrepreneurs would agree they’re busy. But being “busy” with the right things is a difficult skill worth learning. There’s always going to be things that need to be done in your business, but focusing on the right ones is where you can work on improving. Start by focusing on the big rocks. What are the key things you need to do to keep your business moving forward? Then add in the smaller, less important things that still need to be done but aren’t absolute necessities. Learn how to say no to all the extras that try to get their way to your to-do list that you don’t really need to be doing.

 

  1. Improve your people skills

Whether you’re managing a team of people or working directly with clients in your small business, communicating with people is an inevitable part of your job. Working on your people skills will help reduce stress for you and the people you’re working with. Do you communicate with people mostly through email? Learn how to craft the perfect email so you can be clear and concise without sounding terse. Take a course or watch videos online about public speaking and giving motivating presentations. Practice listening more and talking less. Learn what words have a more positive impact on people, such as saying sorry less and thank you more.

 

  1. Find your zen

Remember to make time for you. You need quiet time to relax and recharge. Figure out what helps you destress and make time for that. Go to the gym, go on a relaxing nature walk, pray, meditate, paint, or play with your kids. Whatever you find peace and serenity in doing, allow yourself time to enjoy these activities. Giving yourself time to relax and collect yourself helps you remain calm and better prepares you for dealing with stressful situations.

 

  1. Focus on your health

Your body needs nourishment to fuel your busy days so help it out by feeding it healthy foods full of nutrients instead of sugar and processed foods. Stay active by exercising and stretching especially if you’re at a desk or laptop most of the day. Be diligent in giving your body the rest in needs. Make your health a priority.

 

Try incorporating some of these ideas into your personal development strategy to better yourself and your business this year. The more you invest in yourself and your personal growth, the more you’ll have to offer your small business.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

POW! BIFF! BAM! Why Self Improvement is Essential For Business Owners

Lots of people steer clear of the idea of “personal development”. Surprisingly enough, becoming a better person and being happier is seen as a kind of foolish activity. But, in reality, we all want this and we resist it because we shy away from personal responsibility; also, the idea of actually facing all our internal turmoils is scary and we would rather not do it. No matter what type of person you are, you WILL benefit from working on yourself. If you are an entrepreneur in particular, you really need to devote time to bettering yourself because if you want to be successful in your endeavours, you’ll likely need to make some changes to your belief system as well as how you think and act. If you look at the most successful entrepreneurs of our time, it is clear that personal development was a huge part of their life.

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Self Improvement for Business Owners

Breaking Through Restricting Beliefs (POW!)

What we believe sets the stage for everything we do and will determine the course of our life. Successful entrepreneurship requires adopting a set of beliefs that many others do not hold. If they did, they would be happier and living the life they truly want, not the one they think they are supposed to live. If you were not fortunate enough to grow up around people with a mindset directed towards success, personal responsibility and abundance, you’re probably carrying around heaps of stuff that can thwart your professional success and keep you living and working in the natural fear, doubt and anxiety which most of us experience. We can only adopt more empowering beliefs when we make a conscious effort to do so and this requires self-examination, study and finding tools that help us make this mental shift.

Changing Self-Sabotaging Habits (BIFF!)


The idea that we purposely do things to thwart our success seems ludicrous to our conscious mind. But, this is not the part of our mind that is calling the shots. That is the subconscious mind and it is NOT rational. All sorts of weird things sabotage our professional success, such as fear of added responsibility, failure, criticism, or being more successful and wealthier than the people in our lives for fear of how they will receive us. We also have habits that block our success, such as laziness or procrastination. The goal is not about totally becoming this perfect being, but if you want to succeed as an entrepreneur, you are likely going to have to make a concerted effort to work on the areas of yourself that will stand in the way of the success you seek.

Coping With Stress Effectively (BAM!)

Stress is inevitable and as an entrepreneur, you will likely experience high stress levels a lot of the time. Stress from planning your business, running it once it starts, fearing whether or not you will succeed, dealing with unexpected roadblocks…the list goes on. Stress can be very destructive to your business goals and for something so destructive, you would think more of us would make a more concerted effort to relieve stress, but many of us don’t. We just complain about it and let it overwhelm us. Without committing to stress management, whether through meditation, yoga, deep breathing, regular exercise, or whatever, you won’t be able to achieve and maintain the state of mind necessary to successfully run your business. Stress skews our perspective, it makes us feel negative and pessimistic about things, it makes us self-sabotage. While you will certainly have your moments of not feeling great, it is important to do whatever you can to minimize them or reduce their intensity when they do arise.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

Signs That You Need To Focus On Your Personal Development

Sometimes it’s all too easy to get carried away at work with the immediacy of business demands and to-do lists that stretch across horizons. But in order to stay on top of responsibilities at work and keep satisfaction levels high, we need to reflect on ourselves and engage with personal development to help us perform at our best.

Workshop Room

Signs that you need to focus on your personal development

So, if you identify with the following signs, it’s time you took a step back for a moment to focus on your personal development.

 

Feeling Overwhelmed

If your work-life balance is slightly out of whack and you’re feeling overwhelmed, then it might be time to focus on your self-development.

If work is dominating your life, it’s time to take five as it can have long-term effects on your health. If you’re feeling overwhelmed at work and you feel like your mental health is suffering, it may be time to take a few days off to focus on your personal development and regain some balance.

 

Feeling Static

There’s very little point in a career that doesn’t require training and development, especially since it enables employee loyalty, business growth and success.

If you feel a little static, are not learning or being pushed and are generally quite bored with your job, then it’s time to focus on your personal development.

One easy way to do this is by sitting next to the office swot. Research revealed that those who sit next to quality, productive workers are more likely to improve their output. Therefore, it’s likely you can learn a lot more from perching next to clever clogs in the corner too.

Another way to address your static role is by approaching your boss for training. Firstly, make a list of your career aims, the courses you could take to enable growth and the ways in which your training will benefit your employer. Then make a note of any costs – this could include course payments and time out of the office, for example.

 

Confidence is Weak

It’s no secret that confidence comes naturally for some, less so for others. But that doesn’t mean you can’t become a confident person. If you’re lacking confidence in yourself, or certain abilities about the workplace, it’s time to focus on your personal development.

One way to give yourself a much needed boost is by adjusting your mindset. Keep the positive thoughts flowing and you’ll train your brain into believing in yourself.

It’s all too easy to work on the things we’re already good at. And while building on your strengths is an excellent way to improve your confidence, so is practising your weaknesses and correcting your mistakes. So, once you’ve completed a task at work, jot down some thoughts of how you found it and how you could improve next time to encourage success.

 

Personal development is the key to creating ourselves and leading a long, successful career. Just remember to keep your career goals in mind at all times and don’t be afraid to speak up about making yourself a better person and employee.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

7 Qualities You Should Possess To Be a Successful Event Planner

Being an event planner is a rewarding job, but it is also rated to be one of the most stressful in the world. If you are contemplating a career as an event planner, it is smart to make sure that the event planner job is a good fit to your skill set.

 

Event Set up

Qualities You Should Possess To Be a Successful Event Planner

 

The most successful event planners have a toolbox filled with an impressive set of qualities. These are the top qualities you should possess in the event planning industry and the ones that can make or break your success.

 

Organizational Skills

In event planning, success is in the details. Being highly organized is a must for successful event planning. For those who make and manage to-lists to keep their personal lives running smoothly, being organized may come naturally. For others who struggle to remember deadlines or to pick up the dry cleaning, being organized may require more effort.

So figure out an organizational system that works for you because this is one of the most important event planning qualities you can have.

 

Networking Savvy

Being a savvy networker is a quality that the best planners have. The events industry is one that is heavily people-driven and relationship-based. So, you’ll need a great network of diverse of event professionals, such as caterers, photographers, decorators, videographers, and beyond. It’s this network that you’ll call up on that will help make your events ones that your clients will never forget.

Event planning is a very social profession in that the end result – the event itself – is for a group of people, large or small. Understanding people and enjoying talking to them are part of the job. This does not mean that, as an event planner, you will spend most of your day out at client lunches and having cocktails at social events. Not at all. Event planning is hard work and much of it is spent at a desk with a phone or computer. But being personable is a must when tackling common event planning tasks.

 

Resilient and Adaptable

If there’s one thing that’s guaranteed in the world of events, it’s definitely the fact that things will go wrong. And sometimes you never know what it will be until the day-of. This is where having the quality of resilience and adaptability will come in handy. This encapsulates the “go with the flow” attitude you’ll need to overcome challenges at an event.

The best event planners have a cool, calm and collected front for the clients and, behind the scenes, the ability to think quick on your feet to fix whatever curve ball has been thrown your way.

 

Great Communicator (and Listener!)

Excellent communication skills are essential in many professions. In event planning, miscommunication can result in numerous problems for both the event planner and the client, and a simple misunderstanding can have ​catastrophic results. Being able to effectively communicate thoughts and ideas is a very practical quality that is used on a day-to-day basis by event planners of all experience levels.

 

Creative

Successful event planners have ideas. Lots of them. And with that creativity, the ability to transform the idea into something tangible. They can take a vision and bring it to life. From developing a unique theme for a party to coming up with an affordable decorating solution that meets a small budget, creativity is essential when planning an event.

Creativity also comes into play when facing the inevitable problems that arise during even the most diligently, professionally planned event. In this scenario, creativity takes the shape of problem-solving. Being able to think creatively to develop solutions to problems can positively impact the success of your event.

 

Multitasker

At various stages of the event planning process, there are numerous tasks being managed. You may be negotiating a hotel contract, meeting with the client to discuss potential guest speakers, booking a caterer, interviewing rental vendors and exploring entertainment options. And that is just for one event. Add multiple events in the planning stages all at once, and the result is a juggling act. Successful event planners need to know how to effectively multitask and keep many aspects of the event moving along simultaneously without any of those tasks falling by the wayside.

Success lies in the ability to prioritize and focus on each task in that priority order without becoming distracted by other things that need tending to or becoming overwhelmed by the numerous things that need your attention. Staying calm, focused and flexible are attributes of the successful multitasker.

 

Dedicated to Client Service

Bottom line, one of the most useful quality of an event planner is just to make things happen. Phrases you should say a lot are, “Not a problem,” “Let Me See What I Can Do,” “Absolutely,” and “My Pleasure.” These are some key customer service phrases that can answer just about any question a client might have and reassure any worries. Showing you have a strong dedication to the client will ease any anxieties your client may have.

 

When it comes to event planner qualities, how do you stack up? The great thing about the events industry is that there is no shortage of opportunities to learn and grow so take these qualities, master them, and enjoy a successful events career.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

 

Possible Challenges You Will Face When Starting an Event Planning Business

Event planning is all about helping corporate organizations, government, groups and individuals plan and execute their events from start to finish. An event planner ensures that they work with the budget of the organization or individual and ensure that they deliver a successful event as agreed. In some cases, it is the responsibility of the event planner to draw up a budget for the organizer once they get a brief of the nature of the event.

 

Possible Challenges You Will Face When Starting an Event Planning Business

Possible Challenges You Will Face When Starting an Event Planning Business

 

Now, the truth is that you need to be extremely good with details. You do not want to come across to your clients as one who leaves some important details out. If you do not possess this skill now, you may consider building it up.

 

If you decide to start your own event planning business today, one of the major challenges you are likely to face is getting sucked into the black hole of not appropriately planning for funds. Take the “plan and spend as you go” method and wind up either seriously overspending or finding out very late in the process that you don’t have enough money to follow through.

 

Another challenge is that you are  always going to battle the clock. Quotes will be late. Someone will rent the wrong tech. The printed invites will have the wrong time, and so on…You simply have to be able to account for things going wrong because… they will.

 

Choosing a venue is arguably the most important task after creating your budget. The venue sets the tone for your event and determines a lot of the subsequent details you’ll have to decide on such as décor, transportation, activities, or equipment. Putting the effort into finding the right venue is definitely a challenge but it’s more than worth it.

 

Lastly, the whole point of planning any type of event is to provide an unforgettable experience for your guests. Whether it’s an amazing and productive training session for employees, a wonderful birthday or anniversary party, or even a more casual gathering for a group of friends, a memorable event should be at the forefront of your planning efforts.

 

Being in the event planning business is definitely a tough job. But facing the common challenges above is a great opportunity to grow and master the craft.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

Benefits Of Networking To Your Event Planning Business

It is absolutely crucial for all Event Managers to build a solid and ongoing network of suppliers and contacts. For some this is a natural process and they do it without even trying and have been doing it throughout their personal and professional lives. For others this is an activity that they have to teach themselves to undertake and is an uneasy means to an end, (to say the least).

Benefits Of Networking To Your Event Planning Business

Benefits Of Networking To Your Event Planning Business

Regardless of your personal thoughts on business networking, one thing is certain: networking is a low-cost marketing method that can effectively promote your event planning business.

 

Here are some of the benefits of networking for event planners:

 

Gain High-Quality Leads

Unlike other forms of marketing, referrals received through networking are often high quality referrals. So some of the hard work has already been done for you! The contacts you receive may be qualified leads so it is easier to follow up with these referrals and turn them into clients.

 

Feature Your Expertise

Networking events frequently feature a guest speaker, providing the opportunity to expand your knowledge on a given topic. Many networking groups meet on a regular basis, so take advantage of this valuable business tool to expand your business contacts and promote your event planning business, by speaking at them.

 

Learn From Other’s Experience

When you are networking, prepare to listen more than you speak. You gain valuable information and insight by being a good listener. When you meet someone, ask questions about their work and their experience. Follow up with pointed questions concerning something you want to know. This connection may lead to another connection to another individual who may be of value to you in your event planning business.

 

Get Noticed

People associate a name with a face. If your face is a no-show at relevant business gatherings, your name, and that of your event planning business, will go unmentioned. Get out there. Regularly attend business networking events. Talk to other attendees. Share information.

 

This is how to start slowly establishing yourself as knowledgeable, resourceful, and helpful. Then, when someone is looking for an event planner for an upcoming event, your name and face will come to mind and you will have lead or a referral.

 

Build Your Confidence

As with many things in life, the more you practice, the better you become at something. This is true with networking. The more you speak to people you don’t know, discuss your event planning business and who you are, the more comfortable you will become. As you become more comfortable, your confidence grows. And greater confidence brings with it increased opportunities and a greater perception of you as an authority in the event planning business.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

 

How To Determine The Right Niche For Your Event Planning Business

Your success with event planning may depend on which niche you’re targeting. Try not to make the common mistake that event organisers make in trying to serve every person with every event.

Finding the right niche for your event planning business

Finding the right niche for your event planning business

When it comes to the business services you provide, having a narrow focus is essential. You will become an expert in your niche market which makes you irresistible to potential clients searching for a event organising professional with skills, knowledge and experience in their particular area.

 

If you are a general event planner who is considering a specialization, how do you find your event planning niche?

 

Here are some tips on how to determine the right niche for your business:

.

 

1) Come up with a Specific Wishlist

 

The following questions should be explored when trying to identify your niche; make an elaborate wish list of what you would like in a client.

 

Who are your ideal clients? Try to be as specific as you can.

What is their demographic? Identify the geographic range and the types of businesses or customers you wish to serve.

 

Essentially, if you do not know who you would like to do business with, you will find it difficult to find these potential customers.

 

2) Focus  On Your Passion

 

Next, you will need to identify what you would like to sell and/or what services you will be providing. Keep in mind that your niche might not necessarily be the same as the field in which you currently work. To give you an example, an event planning business is not a niche but rather a field. Your niche will and should emerge naturally from your interests, skills, and experience.

 

3) Identify Your Clientele’s Needs

 

Once you know what you would like to focus on in terms of your passion and who you would like to work with, you will next need to discover what your ideal clients are looking for and how you can address their needs. Try to look at purchasing decisions from the perspective of your potential client.

 

The best way to do this is to research your market, ask these customers directly or find pain points, (areas lacking services), within your niche and fill the gap.

 

4) Evaluate Your Niche

 

Finally, you will need to evaluate your niche to determine if this is a viable service/product. You’ll have to explore questions such as, “Is it financially feasible?” “Will it contribute to your long-term goals?” If the answer to these questions is yes then it is time to test it on the market. How can you do this? If you are a wedding planner, try offering a free wedding consultation meeting to assess if clients are interested in your niche service. Listen to their questions and feedback and if they are interested in your service/product your idea can be considered worthwhile taking the chance on.

 

5) Try and Try Again

The best laid plans of mice and men oft gang aglay, (go astray), right? Similarly, no battle plan has lasted past the first encounter with the ‘enemy’. This doesn’t mean you shouldn’t plan, it just means that you should be flexible. Set a course that you’re certain of in theory, but never hesitate to tack into the prevailing winds of business. Set your end goal and let that remain fixed, but always be willing to adjust the route you take to get there.

 

#ourplacemelbourne #ourplaceisyourplace #melbournemeetingrooms #meetingrooms #eventorganisers #boutiqueeventspace #melbournevenue #morethanjustavenue #melbourneevents #businessbuildingevents

* * * * * * * * * * * * * *
At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.

How To Start Your Small Event Organizing Business

Starting up an event planning business is not a decision to take lightly. It is a major decision which impacts not only on your life but also on your family and others around you. At the same time, if you are passionate and determined that this is the right direction to take you shouldn’t take no for an answer – go for it!

 

Start Your Own Small Event Organizing Business

Start Your Own Small Event Organizing Business

 

Here are the details and the process you will need to follow before officially launching your event planning company.  

 

Have a roof over your head and food to eat

 

Firstly, this is business. There are no hard and fast rules and you’re going to have to do what it takes to get established and then to keep your business afloat. There is no shame in continuing to work for someone else, while you develop your own business, regardless of the field that you choose to operate in. Maintaining a ‘day job’ while you get your own thing running could be one of the soundest decisions you will ever make. Having said that, if you’re going to quit your job, make sure you have some back up. This doesn’t necessarily have to be cash, it could be family or sa partner who is willing to maintain a roof over your head and food on your table. If you don’t have that, then you will need to ensure you have some cash back-up to keep yourself going through your start up phase.


This back up, in whatever form it comes is essential! It’s essential because you will need all the energy and focus to get clients and start earning an income.

For an events company, you should be earning a small income within your first year to at least cover some costs.

 

Choose a niche


The next step is to figure out what your niche is. Ask yourself – what sets you apart from all the other event coordinators? Then you can work from there. There are many different types of events you can work. While some event planners are generalists and work on a wide-variety of functions, it is easier and more lucrative to choose a specialty. Figuring out what niche you want to focus on can be a challenge, but if you mind-map your passions, interests, experience, and knowledge you can narrow it down relatively easy.

 

Be realistic and original. People can tell when you are trying too hard or being fake. Initially, you may need to take a few jobs that you do not make much money from but is worth value in terms of marketing, building your portfolio and experience for yourself. Keep note of this, however: there will become a point where you no longer need exposure, and exposure won’t pay your bills. Be aware of your business and your value and continue to reflect. Once you reach that point, own it and do not be ashamed.

Listening is key


Until you reach that point, continue to work, listen and learn from your jobs and experiences. Make sure the experience of working with you is memorable from when the person first takes your card to the end product. This is everything! Especially when something goes wrong or you have a difficult customer, remember your response is key and will last forever.

Get to bookkeeping


Slowly you will start to increase the number of customers you have, do your best to keep them. As you start to grow, make sure you have a good financial system, this does not have to be fancy. Keep track of what you are receiving and what you are spending.

The event planning industry is one that is not heavily reliant on start up equipment – your brain and a piece of paper are all you need to be organised, efficient, and reliable… the main characteristics an organiser should have. Take advantage of this fact, it means your start up capital required is much less and you can pace the growth of your company.


Share with like-minds
Collaborate. Collaboration is powerful IF you are strategic. Don’t just collaborate because someone asks you to. Collaboration usually means you will foot the bill for whatever you are willing to contribute to the project, or provide your time for free.


Once you’ve gone through these steps and your business is starting to take shape, if you haven’t done it already… quit your job! It will be the scariest but most liberating thing you’ve ever done, but a word of caution, you will now work 24/7.

 

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At Our Place Melbourne we are passionate about doing everything we can to make your event outrageously successful. Despite only launching in March 2017 we have made a big impact with our high value offering, our dedication to community, and our commitment to offering a uniquely personalised event hosting service for all of our clients and their guests. Stay tuned for our next big announcement. It’s always just around the corner. And please, don’t hesitate to contact us here, or in Facebook. Or email us on info@ourplacemelbourne.com We are only a message away.