MEM 4: Reviewing your budget
Your budget will have a lot of influence over the shape and size of your event. It needs to include both income and expenses. There are two main streams of income:
- Delegate fees will vary with the type of event and attendees. If you are holding an invitation-only event, you may need to waive fees for people that you particularly want to attend, or voluntary organisations. Think carefully about whether the whole event should be free or pay-to-attend, however.
- Sponsorship is a good way to supplement delegate fees, and will be essential for free events. You need to put some careful thought into both who you approach, and how. There is more about this here.
Your biggest expense is likely to be your venue. Getting creative with the venue can help make your event memorable. However, you need to be sure that the venue will fit with your objectives, and not seem ‘wacky’ or irrelevant.