Event Management is the Ideal Business

Why Event Management is the Ideal Business These Days

When people hear that someone is an event manager the first thing that comes to mind is: “Oh, they organize children’s parties!” 

Although not entirely untrue, event management is much more than planning a kid’s birthday party.

Event managers organize and manage both small and big time events including parties, birthdays all the way up to corporate meetings, seminars, product promotions and so on and so forth.

Managing an event requires attention to detail and exceptional organizational skills.

That’s why the duties of an event manager involve picking the right location for an event, deciding on a venue that will suit everyone, making sure that everyone can fit in one place, up to smallest of details like decoration, acquiring permits for a large-scale event, arranging for transportation etc.

Last but not least, managing the event itself from start to finish and having a backup plan in case something goes astray. The job of an event manager is difficult, but it’s pretty fun.

Why is event management the ideal business these days?

As mentioned above, event management is an extremely fun but difficult job, so why would anyone bother with such a silly profession? Simply put, some people love doing it and it pays well to say the least.

Moreover, the job offers flexibility and the ability to let your imagination run loose. Of course, all within the requirements of a client, but some clients may tell you: “Surprise me.” Which is definitely an opportunity to show one’s true potential in creativity and organization.

Also, the job has no fixed working hours. You meet with a client and you find out what they want. After that, you sit down and you brainstorm until you cover every aspect of an event.

You may have to plan a single event this month or you may have to plan fifty events throughout the year, it solely depends on your reputation. Nevertheless, here are a few reasons why event management is the ideal business these days.

Amazing income potential

Event managers go through all the trouble of organizing an event and for a good reason. All fun and excitement aside, the income potential is awesome. The average profit margin for event managers is 15 percent but it can go as high as 35 percent easily. However, when starting a business as an event manager, you should expect less profit.

After all, you’re new to the business and your pricing will be considerably lower until you make a name for yourself and raise the price tag.

Furthermore, you must know how to properly price your service so that you can cover the expenses of organizing the event and have enough funds leftover to make a living.

Also, the scale of an event you manage to organize influences the price. For instance, you won’t earn as much organizing a sweet sixteen birthday party, as you would organizing a corporate product promotion gala evening for a few hundred people.

Low startup cost

One of the most interesting features of running an event management business is that it requires very low costs to launch. For instance, you don’t need to have an office in order to work, because you can work from home.

In addition, you don’t need full time employees if you can manage smaller events on your own, especially in the beginning. If you do happen to be in need of employees, you can always hire part-time workers to help you out for a larger event.

You don’t need certification to do the job

Most people believe that you need some form of a degree or certification to get into the event management business. However, that is entirely false, because all you really need is exceptional skills and a good imagination. Let’s be honest, no one is going to come up to you and say:”

Alright kiddo, I’m going to have to see a college degree, before I let you organize my grandson’s bar mitzvah.” At the end of the day, what really matters is how well you can nail the event and leave everyone present with their jaws touching the floor – in a good way of course.

If you insist on getting certified, then, by all means, go ahead. Although, you should know that any certification requires you to have at least 3-5 years of experience in the industry, before you can qualify for a certificate. By that time, you’ll already have an established business and you won’t need any certification.

Technology makes it easy

Nothing is ever easy unless technology is involved. Just imagine trying to organize and manage an event without the assistance of technology. You’d have to book a location, organize the venue and spread the word – in person! What a nightmare. However, a couple of years ago, that indeed was the case with event management.

Without the aid of newest tech, event managers had to master the skill of being at more places at once, aside from developing their creativity and organizational skills.

Nowadays, technology such as cloud computing makes everything much simpler and you can do most of the work by tapping on your tablet or smartphone. Cloud-based technology allows you to gather and access information in real-time, which means you can book locations, organize decorations, foods, drinks and everything else at the same time.

In addition, SaaS (Software as a Service) allows you to utilize the newest software to stay organized and plan ahead from any location.

No need for a fixed location

With the flexibility that event management career brings and a little bit of help from technology, you no longer have to sit in an office and wait for clients to come to you.

Today, you can run your business from anywhere across the globe and still stay connected with all of your clients. If you happen to enjoy work and travel, then you’re probably familiar with the concept of a digital nomad.

Even event management fits in a category of a digital nomad, because technology allows you to do your work from anywhere in the world. However, if you really need to sit down and work you can use a shared office space, especially if you’re somewhere abroad at the time and you have a lot of work to do. That way, you can still get the job done and meet new people along the way.

Industry on the rise

The event industry is on the rise because people nowadays are more connected and there is a constant need for some kinds of celebrations. There will always be a demand for event managers, as there will always be parents who compete about whose kid has a better birthday party or which corporation can make a more pompous festivity.

It’s important to remember that people prefer to let someone else take care of the arrangements so they don’t have to and that’s the biggest advantage event managers have over other businesses.

Have fun traveling

Once you make a name for yourself, you can organize events all over the world. Word-of-mouth recommendations spread like a wildfire and you shouldn’t be surprised if someone overseas hires you to manage their event because they’ve heard of you. Event management can be a very lucrative business and it can take you to various places across the globe. So, why not enjoy it while you have the chance!?

Parting words

Event management is tons of fun, but it can get difficult at times. However, if you have the knack for this kind of job and you have creativity and imagination to back it up, you won’t have the problem of handling anything that comes your way.

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About David Webb

David Webb is a Sydney based business consultant and online marketing analyst. With six years of experience and a degree in online business strategy, he is driven to help the people in better understanding of this new digital age. In free time, David enjoys writing, travelling and occasional night out with his friends

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