Complications for event management businesses in an event
Event organization is always a promising business, and it can earn you millions and billions if operated perfectly. However, there is a big difference between reality and what we expect. No need to mention that the event management business is about handling a big responsibility. It has many challenges because a small mistake can make you miss an important client.
Challenges are long-term as well as short-term
Yes, that is true, and we all already know that for any business, the challenges are of two types, long-term and short-term. It is important to be aware of both the circumstances and plan accordingly to make a suitable strategy.
- The conditions keep changing and thus the type of obstacles according to the time
- Preplanning on every aspect is necessary, but the presence of mind for unforeseen is essential
- Not everything is in control, but with proper planning, that control can be attained
READ THE MAJOR CHALLENGES OF EVENT MANAGEMENT COMPANIES AND RELATE TO THEM IF YOU ARE IN THE SAME BOAT
Acceptance of clients on the venue
Customers have countless concerns about the venue. Location connectivity to transport services view from the venue, cost of the venue, availability of time etc., are among the prominent concerns. For the event management company, it is always very difficult to convince the client of the suitability of the venue.
- The company representatives have to visit multiple places to present a list to the client.
- The second trip with the client to the shortlisted places is another task and a tiring job.
- The clash of choice and budget is always tricky. The clients can be stringent on the expenses.
- The unforeseen conditions such as rain, snowfall etc., are also the issues that may cause chaos.
The venue preference of the clients is full of variety. The most difficult task is to handle the clients that demand a lot. Sometimes they expect the event manager to act like a creature with some supernatural powers. It means the clients demand things that may not be possible on the spot.
Example – The clients want a lush green location but also in the middle of a busy city. A person living to take on benefits needs a loan today by a direct lender with no repaying capacity. How is that possible when someone has no capacity to pay back the borrowed money? The event management company needs to work hard to explain the circumstances.
Circumstances like lockdown that happened recently
Oh, yes, how can we all forget that???? The world went into a tough condition, and the human civilization lost control of life and circumstances and everything. People all across the world lost jobs due to the pendemic lockdown.
- A huge number of people left jobs on their wish due to pandemic conditions.
- Event management companies also had to suffer a lot due to no events.
- Lockdown occurred repeatedly and is still in action in many countries.
- The events that started had to follow multiple covid related guidelines.
The event management companies run on an infrastructure of human resources and materials. Due to pandemic conditions, both are in scarcity. Many of the businesses in this field are closed now, and many of them struggle to survive SOMEHOW.
Example – Event organizers need to purchase a few things and take many other things on rent. But the market is closed, and very few options are available. Whether it is about the carpet shops or the flower decorators, even the online options are not worthy, especially when it is about taking things on rent.
Entry of many guests beyond expectations
Oops! That is a real nightmare, and unfortunately, it happens with many event organizers, and that too quite frequently. However, the companies keep ample arrangements for such situations; but still, some sort of haphazardness exists in such events.
- The first clash rises in this condition are on the budget limit of the client.
- Another chaos is of the sudden increase in the quantity of food, chairs etc.
- If the company fails to cope up, it is sure to lose important clients.
- If the location is far from the city, it is extremely difficult to bring things.
No need to mention that some occasions get popular than what we expect. It can usually happen in the case of the events where the client is a business owner organizing a business activity. Sometimes despite all the arrangements, such circumstances create chaos, which is not good for the growth of the event manager. Someone else has the fault, but the client may get angry with the company.
Example – The joint venture of two big companies received 1000 guests more than what was mentioned by the client. At the time, it is not possible to talk to the client about every small thing. If it is a company event, the client may give the money immediately, but it is still challenging to make the sudden arrangements.
Even management companies always have to work with the pressure of predictable and unpredictable challenges. Only the people with a good presence of mind can manage to handle such circumstances, and this is where the secret of success in such businesses resides. Do things properly and earn in billions, make a mistake and bear a big loss.
Posted: 28 Jul 2021
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Hello guys, I am Ailsa and I known for the research based articles and blogs on the Ireland finance. I am living in Manchester city of the Ireland.
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