Posts Tagged ‘live event’

Venue pricing is always negotiable. There's always another venue if one won't meet your budget, or can't provide a venue sufficient for your needs. However, supply and demand can play an important role in selecting a venue for your event. If you're planning an event for a key time, or in a locale with limited supply, you may find your options limited when it comes to negotiating prices or selecting alternate venue sites.

Tip #1   Venue Availability Influences Price
Venue availability influences the price of your venue. If many venues are available for a particular period of time, the venue may be willing to negotiate a lower rate just to get a booking. Likewise, if you're looking to book a venue during an off-peak period where the venue itself hasn't been used in a while, the venue coordinator might be more interested in negotiating.

Alternately, if you're booking a venue in a time of peak availability, venue pricing may vary. If the venue knows that several events are in town, or if it's been booked repeatedly at a high rate for weeks or months, a venue may be unwilling to negotiate much on price. If this is due to a high rate of events in the locale, you may find similar rates everywhere, and may not be able to negotiate the great deal you could during off-peak times.

Tip#2 Venue Supply Varies by Locale
Some regions simply host a large number of events, or may have a limited number of venues available to meet demand. While it's generally true that there's always another venue, and you can shop around if a venue is unable to meet your budget, that's not always the case. Some locales simply don't have many venues for events.

Particularly if you're planning a large event, your venue options are likely to be quite limited. Even if you're planning a smaller event, you may still have trouble finding the right venue. Before you assume that another venue is available, make sure another venue is available. Don't walk away from a venue in a locale that has a limited number of venues available unless you know you can get another venue.

Research Your Locale Before Shopping for a Venue

To ensure you have maximum negotiating power, research your locale before shopping for a venue. Learn what venues in the area can support a group of your size. Determine availability for your target date before you begin talking with any venue about price and reserving the venue.

Know whether other venues can support your event before you begin the negotiating process. You may find that venue options are limited, which might change your venue selection process. If you can't or don't want to pay what the venue is charging, you may need to move your event to a different locale, or schedule it for a different time when there aren't as many events and more venues are available. You can still get a great price for your venue, but you'll be better able to negotiate if you know what's available.

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coaching

Overcome attendees' initial discomfort and build rapport. This is easiest if you bring a good assistant who can help you field questions and concerns, and facilitate conversation among attendees.

When you're running a one-day course, it's important to understand group dynamics. In a one-day course, you must build rapport among attendees quickly so you can proceed with the underlying message of your course. Building rapport quickly is easiest when you have a little help.

Attendees' Mindsets Upon Entering an Event
When attendees come to a course or event, they typically enter the event feeling a bit vulnerable or defensive. Your attendees may be worried that they're going to be put on the spot, embarrassed, or humiliated. They worry that they may lack knowledge on a particular subject, and that lack of knowledge is going to be revealed. In business courses, attendees may be sent by managers and have even less confidence in their knowledge or attending an event. In other words, most attendees are a bundle of nerves at the beginning of an event. In a one-day course, you must overcome this initial discomfort quickly so that you can give attendees something valuable they can take away from the event.

Pre-Event Mingling
One way in which you can begin building the rapport and breaking through people's insecurities is provide them with an opportunity to mingle prior to the starting of the event. Have coffee or snacks set up outside of the room prior to the session, and provide a comfortable area for people to sit and mingle. A breakout room where people can chat and interact with one another is a great criteria to include when you're selecting a venue. This gives people an opportunity to overcome a little reticence before entering the event, and they'll be more comfortable upon entering the room.

Bring an Assistant
At the beginning of an event, you're focused on a thousand details. You've got to register all of your attendees. Your attendees may have questions, or needs that must be addressed. You may find that your attendees are too hot or too cold, and the temperature needs to be adjusted. What happens if the coffee isn't ready, or if you run into a problem with registration or setting up the room? At the beginning of an event, you want to be focusing on the event; not the minutiae.

If possible, bring an assistant to help you manage these details. The assistant can help with registration, make sure everybody has their badges, check with the hotel about coffee, deal with temperature, and generally answer questions. A good assistant can also introduce attendees to one another and get them chatting; raising their comfort level and dispelling their initial fears. This frees you up to chat with attendees prior to the beginning of the event, or simply focus on the event itself.

The Secret to a Successful One-Day Event
The secret to a successful one-day event is to overcome attendees' initial discomfort fast and build a rapport. This is easiest if you bring a good assistant who can help you field questions and concerns, and facilitate conversation among attendees. The right assistant can make your life a lot easier!

Want to learn more about how to make money with your own events? Visit our Event Money Machine Blog. You’ll learn about an amazing Telesummit being held later this month. Tickets to this event are FREE – so join our priority notification list to be the first to know when they become available.

Venue-finding services are a very specific subset of the event planning niche. When you include venue-finding services in your budget and your venue requirements, the service then does the venue research for you. A venue-finding service can research various venues, negotiate pricing, and move on to another venue if a venue doesn't look like it can accommodate your budget. Venue-finding services do provide a unique value, but only if you work with the right company.

Venue-Finding Services Free You Up

Finding the right venue can take a lot of time. You'll start by spending some time researching venues. Once you've narrowed down your options to venues that are in your locale, you'll need to visit those venues in person. You'll need to establish a relationship with the venue manager, and then begin the process of negotiating the price. You may have to do this for more than one venue if you find that a venue simply can't accommodate your budget, or doesn't meet your needs.

A venue-finding service takes this entire process out of your hands. All you do is tell the service about your needs, and then sit back and wait for them to find you an appropriate venue. You'll probably still want to visit the venue yourself in person, but you can let them deal with the initial research, price negotiations, and all of the back-and-forth; eliminating you from this time-consuming process, and freeing you up to focus on other aspects of your event.

Venue-Finding Services may Negotiate Better Rates

In many cases, venue-finding services can actually get better rates than you can as an individual event planner. Venue-finding services often make agreements with companies to utilize them for many events, thus effectively negotiating a volume discount. You can take advantage of this volume discount to pay a significantly lower rate for your venue, even if you're not the one doing the volume. In this way, venue-finding services can pay for themselves quickly by providing you with rates you couldn't get otherwise.

How Venue-Finding Services Make Money

Venue-finding services may make money in several ways, depending on their structure. Some venue-finding companies charge an up-front fee for locating and negotiating a venue. Others charge a percentage, based on the total cost of the venue, or on your cost savings from using a venue-finding service. Yet others take a percentage of the venue fee to cover their own time spent on locating a venue. Finally, some venue-finding services are actually employed by the venues themselves to source events to fill the space.

Beware of unscrupulous venue-finding services who are actually just venue-promoters in disguise. These services rarely or never host events elsewhere, and may seem unwontedly attached to the venue they recommend to you. If you're working with a venue-promoter who is masquerading as a venue-finding service, you may find that you pay higher rates and may not get an impartial assessment of the best venue for your needs. Be sure to research a venue-finding company thoroughly before working with one.

A venue-finding service can be the solution you need for your event planning. If you're feeling overwhelmed by aspects of planning the event, or if you plan multiple events and just don't have time to hunt down venues for everything, consider using a venue-finding service. Free yourself up to do what you do best – sell your product, provide your services and make money!

Want to learn more about how to make money with your own events? Visit our Event Money Machine Blog. You’ll learn about an amazing Telesummit being held later this month. Tickets to this event are FREE – so join our priority notification list to be the first to know when they become available.

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