EVENT PLANNING 6
Eventplanning is one of the most successful ventures in the entertainmentindustry. However, there are several strategies that need to beapplied in ensuring that the business is effective. With the variousconcepts learnt in class on marketing and successful event planningbusiness, it is important to also incorporate knowledge from thepeople who have been successful in event planning in order to get areal picture on building a successful event planning business. Thispaper relates the concepts learnt in class with a presentation froman event planner in coming up with a workable strategy on planning anevent.
Thewebinar shows how a presentation from Ciara Glendon, an event plannerwho started by organizing bashes at the University and rose to becomeone of the most successful event planning businesses in the industry.Ciara notes that her business started off after realizing a marketgap in the wedding industry when she was getting married. Such arealization sparked off her ideas and she decided to start working infulfilling her goals on the event planning business. According toCiara, the success of her business has been associated with creatinga vision board that inspired her on daily basis even when getting outof bed as a challenge. Her motivation was insider her as she wasalways concerned on meeting the daily needs of her family. Just likeany other business that requires publicity, networking was such animportant aspect that helped her through the business. From the startof her business, Ciara has always connected with frinds, relatives,and any other individual whom she has met during her lifetime. Suchconnections have been very important since she has at most timesgotten refers and her publicity has always grown, attracting clientsfrom different parts.
Ciarahas also noted that getting along with the market is such animportant aspect when running an even planning business. With theever changing needs of the society, it is important to come up with astrategy which identifies the shift in client`s tastes andpreferences and making sure that the business conforms to suchchanges. Even with the success of her business, challenges have beeninevitable. Even though she almost gave up on her business, Ciararevised her strategies and came up with a new brand that went longwith the needs of the clients, not concerned with what other peoplehad to say. At the end of the conversation, Ciara has noted thateducation is an important aspect that will keep an even planningbusiness alive. This is because information gained keeps one updatedon the emerging trends in the business and how to cope with them.
Theinformation that has been provided by Ciara can be related to theconcepts that have been learnt in class on event planning. Firstly,networking has been identified as one of the key factors that haveinfluenced the success of the business. As learnt in class,networking creates a pool of a large population with an insight thatyour business does exit. Creating such a pool helps in creating alarge population of potential clients in the event planning business.Even though some of the individuals within the network might not bepotential clients, individuals will refer to their friends andrelatives, creating a larger market over time. Additionally, Ciarahas noted that networking is cheap as compared to other forms ofadvertisement that an event planning business might take. Such astrategy not only increases the profit margin of the business butalso reduces the operational costs of the business.
Identificationof the market gap is a concept that can be related with theinformation that has been provided by Ciara on her event planningbusiness. When starting an event planning business, it is importantto identify the demand of events in the market. Identification of thedemands of events in the market means that it will take the effort ofanalyzing available options before coming up with an absolutedecision on the event that the business will be organizing. Whengetting married, Ciara identified the market need for organizingwedding events, sparking off her ideas on starting an event planningbusiness on weddings. Identification of market gap helps informulation of effective business strategies that relate to the needsof the market and eventual success of the event planning business.
Challengesare usually inevitable in all businesses. Ciara has explained how shealmost gave up in her business after experiencing downturns in herbusiness. As learnt, challenges are part of the business environmentand we should be able to learn from the bad experiences when doingevent planning business. After experiencing a downturn, it is advisedto go back to the drawing board and pinpoint the source of theproblem and mend where necessary. Ciara went back to the drawingboard and with time, she was able to get her business back to track.
Theinformation gained from the webinar on Ciara and her successful eventplanning business is important in gaining an insight on how to startan event planning business. As noted, setting up a articulategroundwork is key before getting into the real business. Identification of the market becomes the initial effort that shouldbe made in realizing the type of business to start. With the variousoptions at hand, picking on the best option will depend on factorssuch as capital and prospects for future growth.
Ithas also been noted that networking is important in success of anyevent planning business. Being a team of several members, it will beimportant to set up a network where everyone one of us will berequired to use the slogan, tella friend to tell a friendin ensuring that our business is well known in the market.Additionally, we will also use social media in publicizing ourbusiness and ensuring that everyone who we know gets to know theexistence of the business. Through such lessons learnt from class andalso from an individual who has been on the business, it will bepossible to attain the prospects of our business.
Insummation, event planning business is a promising business if onlycreating strategies are employed by the business owner/s.Identification of market gap, networking, knowing how to deal withchallenges are some of the factors that have been realized to helpsucceed in this business. Additionally, it is imperative for thebusiness owner to keep being updated on the emerging trends in themarket through attending educational seminars or conferences. Thisinformation together with the concepts learnt from class, it will bepossible to have a successful event planning business, like the oneowned by Ciara Glendon.
Youtube,(2014). HowTo Build A Successful Business