10 Biggest Mistakes That Event Owners and Planners Make Which Can Cost Them 6 Figures or More Each Year

December 16, 2021 Mario Stewart

Making mistakes is a part of life. At the same time, mistakes are also a part of growth. Throughout your career, it is inevitable that problems will arise and you will make miscalculations. The key to success is to not let those instances bring you down. Instead, you should be constantly learning from your mistakes and this, in turn, will make you a better business person. With that said, doing your research and being prepared for anything that comes your way is half the battle. In the current day of age, there are an unlimited amount of resources to help you build your business. You should always be learning from others to prevent you from making mistakes that will hurt your business. Here are ten mistakes that event planners make that should be avoided at all costs. 

 

They do not make enough offers

Even if you are doing everything right, it is still up to the buyer whether or not the sale will be made. You can’t let declinations bring you down, and you have to constantly be working to reach out to as many clients as possible. Do your homework and know who will be of value to you to create the best chances of making a sale. Create a checklist for your perfect client and let that be your blueprint while you are seeking new customers. Don’t create any limitations for yourself. There is no harm in reaching out and trying to make the sale; the worst thing anybody will do is say “no”. Create a list of potential clients and continuously add to the list day after day. At the end of the day, sales is a numbers game, so make sure you are always reaching out to as many clients as possible. 

They do not listen to clients' needs

Listening to your clients is crucial to the expansion of your business. In the current day of age, there are many technologies and programs to help you gain as much information as possible about your clients. Platforms like Google Analytics and Mailchimp can provide you with concise data to help you market your business effectively. Your business is too valuable to be guessing about the needs of your clients and/or customers. You want to be as thorough as possible when gaining the data to improve the needs of your clients and their expectations. With that said, the customer is not always right and it is up to you as the business owner to listen to trends to figure out what is best for your customer. 

They do not have a high ticket offer

Doing your research and valuing your tickets correctly will help ensure your business and keep it growing. Don’t underestimate your value. If you have the right content and information, people will see your value and purchase tickets to your next event. You want to utilize video content to market your event while highlighting the greatest aspects of it. Do the math and know what you need to turn a profit. Take note of how many tickets you sold and who you sold them to and grow off of that. If you think that you can increase your tickets without losing customers, do it!

They do not have a marketing plan

Business can be like war sometimes. You would never engage in a battle without a well thought out plan. First and foremost, you need to have a mission statement. It is essential to clearly state your goals and the value that your customers will get by attending your event. Know your audience and seek out valuable clients who will work for you in spreading the word about your events and business. Create reasonable goals and the steps you need to make to achieve them. There are many great platforms out there to help you market your business including Mighty Networks and Mailchimp. 

They do not use social media effectively

Social media is the greatest gift of all when it comes to event planning and marketing your business. Platforms such as Instagram and TikTok do the work for you while spreading the word about your next great event. Humans are extremely visual. The key to social media marketing is to make engaging videos that clearly describe your event, your goals, and the value of attending. Research shows that 93% of brands get new customers because of their video content. You don't have to be Steven Spielberg to make an engaging video. The technology is literally in your hands and you can use your smartphone to create valuable content to spread the word about your next event. 

They do not educate themselves or have a coach

Everybody knows that practice makes perfect. With the internet in the palm of your hands, it is extremely easy to educate yourself in all aspects of business and event planning. One of the most effective ways to grow your business is to look to others. Find someone who has done what you are trying to do and study how they got there. Don’t be afraid to personally reach out to people and gain their knowledge. You will be surprised to see how willing many people are to help you grow your business.

They don't know how to partner

When creating your own business, you have the luxury of choosing the individuals that you wish to partner with. Before you jump the gun on partnership, you need to make sure that whoever you are partnering with fits the needs of your business. Look at your business and decide what you're missing and seek out individuals who can fill those gaps. Study their track record and success rate. Whoever you partner with, it is extremely important to be 100% honest about your expectations so you don't have surprises down the road. 

Ignoring the competition 

In business, there is always going to be competition. With that said, competition doesn't always have to be negative. Learning from your competitors will help you in creating a better business. Look at your competitors’ price points and figure out how they got there. Study their clients and figure out how you can bring more value to them compared to your competitors. Never be intimidated by your competition and instead, constantly learn from them to help your business grow. 

They don’t delegate responsibility

Let’s face it, you can’t do everything yourself. You have the vision, but without the proper staff to carry out your everyday tasks, you will be constantly falling behind. Half of the battle in business is getting there first. Knowing your staff and what each of them can bring to the table will help you effectively plan your events. Delegate the responsibility in a clear and concise manner and make a schedule with set goals. Be a positive leader and practice what you preach to constantly inspire your employees. 

They fixate on their mistakes

One of the biggest differences between successful and unsuccessful business owners is learning from your mistakes. Problems will always arise and many people will quickly look to blame others. This will get you nowhere when it comes to business. What is in the past will stay in the past, and it is up to you, as the business owner, to constantly be moving forward without letting past mistakes bring you down. Look at the mistakes you have made and learn from them to ensure you don't make them in the future. This will help you constantly grow and turn you into a better business person. 

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