Although I’ve never worked in the industry, I’d imagine event planners experience a lot of ups and downs throughout the year, much like many other businesses. The key to having sustained success as a business owner is to be able to quickly identify what is causing your business to slide (downs) and adapt quickly to regain your footing and begin climbing up again.
Below, we’ve shared a list of reasons an event planner’s business may be in trouble from Liz King for Business2Community.com. Remember, once you recognize the problem, you can start working on a solution.
Undetermined Niche: King says that most event planners operate under the assumption that they have to do everything and take on every event, but that doesn’t always equal success. Not having a defined niche, King says, means you don’t have a defined market and you aren’t able to brand your business well. King says that an event planner’s brand should be so focused and niche so defined that you can “share it with your potential clients in just a few seconds.”
Lack of Focus: King says that if you are looking to build a sizable business that can support you and your family, “you have to dive into your business deeper than you have ever done before.” Running a successful business, she says, “takes an incredible amount of drive, dedication, and focus.”
Changing Course: King says that one of the telltale signs of a failing business is a person who is always changing directions. This lack of focus, King says, signifies a lack of core mission. King says that rather than “shifting with the wind every time you think there is money in a particular area, you must do your research and reflect on your skills.” Then, once you’ve defined what your niche, you’ve got to “dig your heels in and stay focused.”
Lack of Education: The final red flag, says King, is owners that don’t pursue an education. King says it’s important that event planners look into certification programs, read blogs, and check out industry events and conferences to make sure they are ahead of the game in an industry that is flexible and changes so rapidly.
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