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Event Business Challenges- Inadequate budget

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Event Business Challenges- Inadequate budget

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Too often, organizations inaccurately estimate their spending during the planning process of an event without conducting a comprehensive assessment. This situation can lead to overruns. Since the cost items for each activity can have multiple configurations and options, the overall budget can vary widely. Therefore, it is critical to hold an event within a fixed budget and plan before the event. The event organizer can avoid overspending by comparing previous event budgets or viewing data from the previous events to see how much they typically spend at each gathering.

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How to Create an Event Budget [Event Planning Tips]

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Event Business Challenges- Unpredictable weather condition

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Event Business Challenges- Unpredictable weather condition

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The frequency and intensity of extreme weather have increased over the past decade. Uncooperative weather can completely disrupt the atmosphere and arrangement of an event in seconds. Sudden heavy showers, heavy snow, or intense heat can make attendees lose interest in the event and even leave the venue. So, it's a wise precaution to have umbrellas and ponchos for attendees or prepare juice, water bottles, and sunglasses for participants so they can participate comfortably in extreme weather. In this way, event agencies can even gain additional opportunities to market their products.

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Event Business Challenges- Inadequate time

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Event Business Challenges- Inadequate time

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Even a small event undertake many basic tasks to complete before the event is hold. To prevent running out of time, creating a timeline with clearly outlined action items is a must. This timeline should include the months, weeks, and days before the event. This method can ensure that event organizers can book venues and confirm the number of attendance on time, and launch event marketing earlier to make a difference. Also, it is important to find extra time to plan events. This ensures that event organizers have the flexibility to deal with further complications, such as reordering materials or finding new venues.

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Event Business Trends- Eco-friendly Events

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Event Business Trends- Eco-friendly Events

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Both merchants and suppliers are committed to promoting more sustainable business practices and environmentally friendly activities. The main objective is to promote environmental conservation and reduce the carbon footprint by partnering with the circular economy. Event planners can also achieve the goal of creating carbon-neutral events through reuse and recycling. Event professionals can create a circular economy by using items that can be reused or recycled after the event, and raise awareness in the community by donating or offering free classes to community residents. On the venue side, sustainability programs such as the concept of the eco-friendly hotel and implementing sustainability initiatives can encourage and educate staff about the proper use of sustainable resources.

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10 Eco Friendly Hotels - Sustainability and Green Travel - SLAYED

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Over the past few years, the general public has place considerable emphasis on hygiene and to keep social distancing at events. Contactless technology and digital communications have played a major role in creating more hygienic in-person events. Event safety is a necessity. Therefore, as an event planner, it is imperative to carry out a risk assessment and safety plan for each event. In-person events must give attendees confidence in health and safety to increase event attendance. In terms of venues, event organizers should also need to provide safe and hygienic event spaces, flexible booking policies, and clearly demonstrate event procedures to attendees to ensure event safety.

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Event Business Opportunities- Balloon Decoration Business

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Event Business Opportunities- Balloon Decoration Business

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A balloon decoration business is considered an excellent start-up idea. The balloon business can be highly profitable with low costs. Balloon decoration involves arrangements and themes based on balloons. For example, backdrops, walls, and entrances within the event and party venues. Balloon decorations are popular at corporate events, social events, children's parties, and weddings. Balloon decoration is a low-overhead business, making it a lucrative entrepreneurial opportunity. People do not need to rent a studio to run the business as their business can be dealt from a few simple devices at home.

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Things To Know Before Starting A Balloon Business

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A conference is an event where many people come together to discuss a particular topic or share information. Meetings can last one day or several days. The days of the event depend on the size and scope of the event. The conference provides a networking opportunity for speakers or exhibitors. There are also some casual gatherings before and after the meeting. Holding a successful conference can help businesses to increase product or brand awareness and create a more professional brand image for their customers. In the layout of the conference hall, the auditorium-style seating grabs the audience's attention or banquet-style to facilitate group discussions among different cooperates.

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Virtual event stage with  augmented reality

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Augmented Reality (AR) is becoming a popular event trend due to the unique customer experiences. It creates a unique digital experience that blends the essence of the digital and physical worlds. Moreover, it doesn't require any special hardware or software to enjoy the experience, which makes it immersive for attendees. AR experiences are also a more affordable and accessible option for any event. Event agencies should find the right style for event planning and keep abreast of emerging event technologies. AR event planning tools can be used for product demonstrations, creating networking opportunities, and interacting with virtual or live event attendees.

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Virtual event stage with mind blowing augmented reality | Club xR

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Event Business Opportunities- AV Equipment Rental

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Event Business Opportunities- AV Equipment Rental

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Only a few event organizers or companies host multiple events each year, so it certainly has out of necessary to buy a lot of AV equipment. As a result, businesses prefer to rent AV equipment rather than invest a lot of money in equipment for individual events. The AV equipment rental business can provide event or party organizers with the right equipment package to engage the interest of participants in the event. Audiovisual systems can enhance interactions among their company's employees and create a beneficial impact on the entire business. And learning by sight or hearing is one of the best resources for employees. However, starting an AV rental business can require a lot of capital, but it can still be profitable given the growing demand for AV equipment.

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AV Equipment Rental Singapore: 9 Important Things About Renting Audio Visual - Electric Dreamz

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Event Business Opportunities- Virtual Event

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Event Business Opportunities- Virtual Event

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A virtual event is an event that involves people interacting on the web, rather than meeting in a physical location. The COVID-19 pandemic has changed the way people interact and participate in events. Today, more meetings and events are take place online than ever before, and the trend toward virtual events isn’t going to slow down. Event business is encouraged to plan to organize more virtual events over the next decade. It is foreseeable that a virtual event could be profitable. But to run a successful virtual event business, the event organizer must be committed and engaged with attendees, and ready to learn and handle the latest technology.

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Some companies regularly host parties to bring employees together and celebrate the achievement of common goals to boost the team's morale and have a good time. While the focus of this event is usually to have fun and seek relaxation, an event planner can still set and achieve specific goals for the companies. This kind of party in the company promotes communication between departments and creates a healthy company culture. In the design of the event venue, it would be the right choice to reserve enough space for employees to dance or talk to achieve the goal of social.

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Product launches help to widely publicize information about a new brand, partnership, or special offer to the general public. These in-person events create buzz and help attendees better understand different brands. Product launches can also help businesses build stronger connections with fans while increasing brand awareness. Boutiques, hotels, or mini showrooms are the ideal place for product launches. The event organizer can let the guests who participate in the conference get priority to use the brand-new products and offer the guests a wide range of activities. So, that they can leave a deep impression on the brand. Examples are photo booths and opportunities to appear in bespoke films.

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BH Cosmetics: Glam Reflection Launch Event