The business world is more than just a numbers game. Prestige still plays a huge role and the way your team, customers, and partners perceive you can make or break your enterprise. This is why a well-organized event can make all the difference in the world.
Still, how does one host such an event?
Well, while the answers may be as vague as the question, these are the four key principles that will help turn any event that you’re hosting into an instant success.
Define an Event and its Objectives
When it comes to personal social gatherings, no one prevents you from just throwing a party just to have a party. Still, the purpose of the party is usually specified either way. It’s either a wedding party, a birthday party, a themed party, etc.
With a corporate event, this clear definition is even more important. This is usually tied to some sort of event like a product launch or a team-building exercise. Sometimes, however, you can host a networking event, but even then, there’s usually an event or a milestone that you’re trying to commemorate.
So, by knowing the event’s theme, you can already start sketching out the objectives. For instance, if it’s a product launch party, you might want to attract more attention to your product, convert some partners and buyers on the spot, or something else along those lines.
If it’s a team-building event, you want people to mingle, have a good time, and get to know each other in a bit different setting.
While these may seem like something that’s a bit trivial, the truth is that they can help you organize an event. For instance, if there’s someone who needs to hold a big speech or if the event revolves around some sort of presentation, you need a centerstage.
If you want people to mingle, keeping music quieter and appetizers at hand is the right thing to do. Even if you’re just coming up with ideas and are still lost, you can always look up some corporate event ideas online for inspiration.
Create a Budget
How much are you willing and able to spend on this event?
This question is difficult to answer since you won’t always be able to find the exact list of expenses that you’ll have to pay for. Even others in your industry who have hosted similar events might not be willing to disclose a full list of expenses, which is why it ultimately comes down to guesswork.
The first thing you need to do is start making a list of all the expenses that you’ll face. The most systematic way to do so would be to download a corporate event checklist template. This way, you’ll have, on display, all the minor expenses that you would probably forget. Naturally, if there’s anything missing on the list, you should feel free to add it. Remember, this is a template, not your actual list.
You also might want to shop around a bit. There’s nothing wrong with calling the venue management to ask for the booking fee even before you’re willing to make a choice. You need at least a reference point in order to understand what you’re working with here.
Ultimately, this is a business event, and it has a purpose. Spending thousands to raise hundreds is never an idea that gives you a positive ROI.
Delegate
A corporate event is not your own personal affair. It’s something that concerns others and something that will benefit others, as well. So, why not ask for some help?
First of all, you need to find a planning team. More people are less likely to omit an important task or lose something from the mind. Brainstorming is great, but when a lot of people think of something over a long period of time, the chance that every single one of them will miss out on a crucial detail is quite minimal.
You may also want to consult some professionals. Outsourcing to specialist event planners or agencies has, time and again, proven to give some of the most outstanding results available. This is something you need to plan for early on so that you can include it in the budget.
Most importantly, you need to establish clear channels of communication. Using a special project on your company’s collaboration tool is a great way to keep things transparent and organized. This way, you can assign everyone a role and responsibility and track the status of each task without having to bother individual people in charge of them (without a cause).
Sure, this is still your responsibility, but asking for some help is not a sign of weakness. If anything, it’s a sign of great leadership.
Set Date and Time
Dates of corporate events are usually mandated by other factors. For instance, the release of the product will be determined by the team working on it, and the exact release date may be set by your marketing team. After all, they need to slowly build up the hype through social media and content marketing.
However, you don’t have to schedule it on the exact same day. Usually, if a company anniversary falls on a weekday, it’s celebrated on the closest weekend.
Then again, if you’re just hosting a conference or sponsoring an event, you may have a bit more freedom to set and choose a date. Just keep in mind that the right date may drastically affect the attendance. You may also want to check if there are similar events somewhere around what you’ve planned.
This is something you have to know in advance. After all, you can’t book a venue or even negotiate with a caterer before you know when you’ll need the quantity in question.
Once this is done, you have a budget and the estimated number of guests, you have all you need to figure out most organization-related tasks.
At the end of the day, planning a successful corporate event is a difficult challenge, but it’s something that has to be done systematically. At the end of the day, you’re trying to achieve something and make a good impression, which is why you can leave nothing up to chance.
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