The Launching Pad: Building Your Event Business
Certificate OD
The Launching Pad: Building Your Event Business Certificate OD
The Launching Pad Overview
The Launching Pad: Building Your Event Business is designed for event professionals who are launching their own event business or those with an existing business looking to develop fundamental business skills. This course is ideal for professionals looking for an efficient and comprehensive introduction to key business fundamentals.
When starting a company, having a solid foundation in business acumen is crucial for success. By the end of The Launching Pad: Building Your Event Business, you will learn key competencies that are required for getting your business off the ground, from creating an initial business strategy and actionable goals to drafting budgets and obtaining financing. You’ll also learn about marketing strategies, effective pricing methods, how to obtain your first clients, and much more!
Learning Outcomes
- Draft a business plan that identifies your business niche, target markets and customers, product and service offerings, pricing strategy, competitive positioning, and setting goals you’d like to achieve.
- Understand fundamental sales skills, including prospecting for new clients, evaluating and responding to RFPs, designing proposals, and delivering compelling presentations.
- Consider marketing, advertising, and public relations options.
- Evaluate the primary financial performance of your business by reviewing profit & loss statements, balance sheets, budgets, and other vital financial documents.
Learn from an Industry Expert & Event Agency Owner
Heather Mason founded Caspian Agency in 2005, intent on bringing a scientifically-based strategic discipline to white-glove event planning after recognizing that there was no codified method for creating and executing strategic events at scale. To do this, she created the Caspian 10 Essentials of Event Science. This methodology has been taught internationally, and is featured curricula for the San Diego State University Masters in Meetings and Events degree program where Heather is a Senior Fellow and an instructor. Her expertise in the innovation and social good business space has led to successful projects for The Skoll World Forum, Bayer Foundation, Rockefeller Foundation, Ford Foundation, among many others. Prior to launching Caspian, she managed events for Charles Schwab, producing conferences across the country. She serves on the boards of American Sustainable Business Council and Entrepreneurs Organization Utah.
View Heather's Profile
Learn from ELI's Founder & CEO
With over 20 years of industry experience, Howard is a widely recognized expert and innovator in the field of special events, meetings, and small business growth strategy.
Most recently, Howard served as SVP of Knowledge & Innovation with PCMA. Prior to joining PCMA, Howard was the Founder & CEO of the Event Leadership Institute, a leading provider of best-in-class training and education for the events industry through online, on-demand video professional development classes, interviews with industry leaders, white papers, webinars, and live events. In addition, Howard also was the CEO and Founder of Paint The Town Red, Inc., and the former CEO of North America for Global Events Group, the 13th largest event agency in the world, which acquired Paint The Town Red in 2008. During his tenure, the company won over 30 industry awards. He is a Past President of the ILEA (International Live Events Associate) NY Metro Chapter; has served on the board of directors of MPI (Meeting Professionals International) Greater NY Chapter as VP of Education; has served on the Advisory Board of Special Events Magazine; been a judge of the Gala Awards & HSMAI’s Adrian Awards.
He as been a frequent speaker at industry conferences on a wide range of topics. He has been profiled in The New York Times, The Wall Street Journal, CNBC, National Public Radio, ABC News, The Apprentice, and USA Today, in addition to numerous trade media.
View Howard's Profile
Setting Your Business Up For Success: Creating A Roadmap
- Identifying why so many small businesses fail and how to avoid failure for your business
- Interviews with owners of event businesses on what they’d do differently
- Understanding the functional needs of your business and who will fill these needs
The Big Picture
- Outlining your long-term goals and how you’ll get there
- Finding your niche: identifying target client & event types
- Finding your niche: identifying types of event services (design, execution, etc.)
- Branding your company: pros and cons of using your own name
- Branding your company: finding what makes you unique
Setting Up Shop
- Legal and tax considerations
- Insurance considerations
- Office options
Financing Your Business
- Projecting your budget needs
- Taking on onvestors
- Loans and lines of credit
Accounting: Understanding Your Business Dashboard
- Reading a balance sheet
- Reading a profit & loss statement
- Sales forecasting and cash flow
- Managing accounts receivable
- Managing accounts payable
Pricing: How & How Much You Should Charge
- Identifying the best pricing model (e.g., flat fees, markups, % of budget) for your business
- Calculating how much you should charge for your services
- Dealing with commissions
- Identifying which types of clients are likely to be time-sucks
Prospecting For New Clients
- Understanding the sales funnel
- Tips for making sure you prospect
- Networking tips
- Honing your elevator pitch
- Where and how to find new leads
- Client mapping
Marketing Your Business
- Keys to a successful website
- Key principles for using social media
- Getting press/publicity
- Advertising: When it works and when it doesn’t
Pitching & Winning New Business
- Client discovery and handling inquiries
- Evaluating RFPs and determining when to bid
- Honing your value proposition
- Tips for successful pitch meetings
- Tips for successful proposals
- How to handle requests for “day of” work
- Contracts and payment structuring
Keeping & Growing A Client's Business
- How to avoid “scope creep”
- 5 keys to preventing upset clients
- Planning a post-event debrief designed to win rebooking
Working With Vendors
- Proving value beyond your vendors: how to avoid clients hiring your vendors directly
- Contracts, insurance requirements, and indemnification clauses
- Payment terms and commissions
Hiring Employees & Independent Contractors
- Non-compete and non-disclosure agreements
- Compensation models, payroll taxes, and insurance
- Effective delegation
- How to avoid employees stealing your clients
Group Purchase
The Event Leadership Institute stands behind all of its content. If you feel you didn't learn what you expected to in this course, just let us know within 30 days of your last lesson and we'll give you a full refund. Click here to view our refund policy and full terms & conditions.
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