Lena Malouf reflects on what has changed in events over the past few years.
Being in business at any time is anything but straight forward and regardless of the reason you need.
#Reasonable cash flow
#Enjoy providing on going service to clients
The principle change over the past few years is simply this; we have become smarter in how we run our business; we have streamlined our businesses through necessity to survive and importantly, and we have learnt to run leaner with purchases and labour.
The past few years have tested the best in the events industry and on reflection the eighties now seems like a dream.
Clients walked through the doors with their brief for an event. The event planner could create, design and produce a stunning concept with ambience and style that would leave their clients breathless. Back then of course, the budget was not foremost in the mind of the client. Making the event better than the previous one was the goal..
In fact we had perfect clients. They paid full value without question, raved about what we did and went wild for what was being offered.
In fact many of us had the type of client that was loyal and became known as the ‘ be back ‘ client
But my, how things changes early to mid-nineties. These years gave us a compelling reason to take a serious look at the financial position of the business.
Attention was re-focussed specifically to the budget, staff employed, required purchases, and the labour required pertaining to the job.
Now the mantra became “no profit, no job”
This was a very tough call as we are in an industry that is customer focused.
With that said however, economists tell us that out of every down turn the circle will return to lucrative spending.
Whilst the waiting game is in play we have learnt to survive and profit by implementing four overlapping strategies;
1. We bulletproof the business against failure, realizing that the continuity of smaller profits can make for a healthy enterprise.
2. We have learnt to manage smarter as we know that the number of years in business means nothing, unless we stay on the learning curve
3. We understand the importance of ‘ walking the talk ‘. Displaying positive attitude and professional behaviour flows down to the team
4. Finally, accept and update ongoing changes from social media, creative catering, technology trends and decorative alternatives.
Lena Malouf brings decades of experience as an event designer and manager to the wider event industry through her books and lectures on the event industry.
Lena was driving force behind the formation of the Australian chapter of the International Special Events Society (ISES) and was the chapter’s founding president.
She has won countless accolades for her work, including a recent Lifetime Achievement Award from The Special Event, and has served in major leadership positions in several industry organizations, including as International President of the International Special Events Society and an advisory board member for The Special Event.
Lena’s latest book Events Exposed features straightforward advice on operating a successful special events business, gleaned from Malouf’s more than 40 years in the event planning industry. It includes guidance on developing a strategy, identifying potential clients, developing proposals, building an event budget, coordinating with contractors, and much more.
And beyond the business components, readers will also find a section on designing successful events, including tabletop, ceiling, and wall decor, while a chapter on developing thematic concepts will illustrate how an event planner can successfully bring a theme to life. With full-colour photos in two 8-page inserts and practical checklists throughout, this is a must-have reference for industry professionals, special events students, and aspiring event planning professionals everywhere.
Events Exposed is published by John Wiley & Sons. RRP $59.95