Events; New Trends, New Technologies, the Future…

Since the creation of this blog we have posted different areas of the event planning industry that affect events; from trends to how to acquire the money for the creation of a new event planning company. But, what’s next? Are events going to survive the economic depression? Are there any new ideas? New trends?

Gladly, I can say that the event planning industry is a thriving one worldwide. It is considered a billion dollar industry, with a stable spot within the entertainment industry. However, like everything else new trends, topics and ideas are being established in order to appeal to a more technologically and modern audiences.

One of the most modern and popular trend are Green events. Previously, we explored how trade-shows and conventions are incorporating the green trend in order to be more environmentally conscious regarding their displays and presentations. Another green trend that has emerged is green catering. Caterers have boosted their revenues with eco-friendly practices. Not only are they helping the environment but also they are appealing to a green customer with the desire of having an environmentally friendly event.

According to the article, Green Grows the Greenbacks: Some caterers Boost Revenue with Eco-Friendly Practices, on the magazine Special Events, reported that

“Though the green practices themselves—such as cutting energy use and trash-hauling costs—tend to be revenue-neutral, Cuccaro says, the big payoff comes from green-minded clients. "We definitely pick up more business as a result" of green practices, he says.”

This is a very good service event planners can suggest their clients who are on board with green events. Not only are helping the environment but we are creating conscious events that are modern and appealing to new modern clients. New trends are always emerging is up to event planners to be constantly researching new ways and techniques to create one-of-a kind events that are appealing to the always changing entertainment industry.

As a recent college graduate I have learn the importance of research and thinking outside of the box. It is important to understand the industry, know what and how things are being done. This is the only way to make yourself stand out from the competition, in addition this way you or your company will always have a competitive edge. Learning about all the different components that make a successful event has definitely given me an advantage over those already established companies that have stayed behind.

Resources: 
- http://specialevents.com/green_events/some-caterers-boost-revenu-with-eco-friendly-practices/

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Posted in: Go Green,Trends

Investors Wanted for New Business Opportunities.

As we all know the business industry is currently undergoing a global crisis. However, investors and other investing organizations are willing to fund potential ideas. Amazingly, there are numerous ways of acquiring funding for a new venture or for expanding already successful businesses. Sometimes funding will come from the most unexpected places; all you have to do is do the correct research.

For the last couple of posts we have established the importance of having and/or creating a business plan. We have also stated that one of the most important areas of the business plan is the financials. Now, after completing your business plan your next step is to begin looking for investors. 

After doing some research myself, I have stumble upon some organizations that have very successful financing opportunities. The National Committee Investment Fund (NCIF) is one of these organizations. The National Community Investment Fund is a non-profit, private equity trust that invests in banks, thrifts and credit unions that generate both financial and social returns. To be considered a CDBI, an institution must focus a substantial part of its business on low- to moderate-income people or communities.

“NCIF invests in CDBIs that display both strong financial and social performance. To determine if an institution meets these criteria, NCIF evaluates the institution using a Development Impact analysis as well as an internal CAMEL analysis. In addition, the institution must also provide a planned exit strategy.”

The CAMEL analysis is explained in detail on the diagram to the left. If you meet NCIF’s qualifications make sure you look for more information on the requirements and the steps to take in order to be funded by the NCIF. For more information on the national Committee Investment Fund you can click here.

Another help for small businesses, especially Micro-businesses is the AEO, Association for EnterpriseOpportunity. AEO is a national membership organization and voice of microenterprise development in the United States.  AEO's management team is focused on working with our members and partners to pilot new initiatives. One of the new initiatives is the Catalyst Initiative;

“If one in three microbusinesses in the United States hired an additional employee, the US would be at full employment. If this possibility is to become a reality, the economy must continue to show signs of a rebound so that confidence recovers, demand grows, and companies can bounce back. At the same time, there is an urgent need to reduce costs to reach micro-businesses and to invest in the capacity of the non-profits that are uniquely positioned to meet needs of LMI business owners.”

This initiative can also be applied for non-profit organizations. Other initiatives include “green” companies and minority audiences. If you think you can apply for this or any other initiative or for more information on AEO funding feel free to browse the AEO website by clicking here.

As you can see different organizations have taken on the task of helping enhance the professional world. Helping new and/or established entrepreneurs achieve success. Make sure you continue to do research and look for investors. As you can see they are out there looking for devoted, hard-working people with successful ideas. Good Luck!  

Resources: 

http://ncif.org/
http://www.aeoworks.org/index.php/site/

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Business Plan Part 2: No Walk in the Park.

Continuing with our previous post, creating a business plan is no easy task. For the past month I have been creating one for a potential business I have planned, a specialized corporate event planning company based in Puerto Rico. I can assure everyone that it has not been a walk in the park.

Taking into consideration the expert advice of Dave Lavinsky, I have certainly developed as detailed as possible all the key sections of the business plan. Every section has been personalized and strategically described, this will give any reader and/or investor in great detailed what the company is about, it’s goals, objectives, financials, team, etc.

Simone Brummelhuis, advices us to specifically point out what makes your business successful and how it can benefit an investor or a bank, She suggests that your top sections should be your financials. People who are interested n investing in your idea want to see numbers. Personally, two of the hardest sections while creating the business plan have been the law and financing sections.  However, options like outsourcing outside help from a lawyer or an account can be of benefit of those who have difficulties in those areas. Agreeing with Brummelhuis, in my personal opinion the financial section is the most important. Those who are going to invest in your business NEED to understand when they will get their investment back and when they will start making some money.

Having great resources like a good book on business plans, watching a tutorial video and reading about expert advice can be a great way to save money and create a successful business plan. Knowing the areas that you need more help can be a very good factor while creating your business plan.

I do have to point out that research is key while creating this sort of document, but don’t be discouraged having a business plan benefits your business enormously.  Remember these tips and the creation of a business plan are a step closer to your SUCCESS. 

Resources:

Information

- http://www.growthink.com/team/dave-lavinsky

- http://thenextwomen.com/users/simone-brummelhuis

- http://articles.bplans.com/writing-a-business-plan/what-is-a-business-plan/33

Pictures

- http://www.olsbizdev.com

- http://www.businessplanning.ws/category/financial-analysis

- http://www.whenyourbrookdriesup.com/resources.htm

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Posted in: BusinessPlan,Experts,Tips

Become an Entrepreneur; Start with a Business Plan.

Throughout the start of this Blog we have posted numerous trends, tips and strategies that benefit your business. However, this post will benefit those who want to start their own businesses or lack a business plan. We will discuss what is a business plan, the importance of creating one, the benefits of having one and we will present various expert views on the subject. 

Let’s start by explaining what is a business plan. A business plan is any plan that works for a business and/or company explaining what the company is, its goals, overall numbers and future. (Bplans)A business plan is meant to look ahead, allocate resources, focus on points, and prepare for different opportunities and problems. 

It is crucial for any business to create a business plan. Nowadays, people continue to disregard owing a business due to a false impression that you only need a business plan to start your own business.  A business can help running a business, whether you need a loan or investment or not, any business needs a plan that can optimize growth and development.

According to Dave Lavinsky, founder of Growthink and President of Growthink Publishing, a successful business plan must have the following ten key points:

 

1.     Executive Summary

2.     Company Analysis

3.     Industry Analysis

4.     Analysis of Costumes and Competition

5.     Marketing Plan

6.     Operations Plan

7.      Development Plans

8.     Management Team

9.     Financial Plan

10. Appendix

He expresses that many forget to explain several points resulting in a poor business plan. (Growthink)Lavinsky is an internationally renowned expert in the fields of business planning, capital raising, and new venture development. Over the past decade, Dave has guest lectured at top universities, developed over 100 business plans, and has written hundreds of articles on entrepreneurship, business planning and capital-raising. (To learn more about Dave Lavinsky click here)

Another expert advice comes from Simone Brummelhuis, former attorney and founder of The NextWomen, the first Women’s Internet Business Magazine and community.  She expresses the importance of highlighting your business’ success and detailing the steps you have taken to achieve success in your business plan. (To learn more about Simone Brummelhuis click here)

Pointing out in your business plan what makes your business successful and how it can benefit an investor or a bank can help your business bloom in a blink of an eye.  Having key elements like your financial plan, and your analysis of customers and competition can be decision makers when negotiating an investment or a loan. People who look for smart investments want the facts and numbers right away. Sections like the ones listed above makes it easy for those interested to make a decision and have an incentive at the time of the investing. 

Taking these suggestions into consideration and researching more do’s and don’ts when creating a business plan can help your business enormously. Remember that creating a business plan benefits everyone; investors, banks, clients, staff and most importantly YOU! When you start creating a business plan you are a step closer to Success! 

Resources:

Information:

- http://articles.bplans.com/writing-a-business-plan/what-is-a-business-plan/33

- http://espresso101.com/newsletter/388

- http://www.growthink.com/team/dave-lavinsky

- http://thenextwomen.com/users/simone-brummelhuis

Pictures

- http://www.betadaily.com/2010/02/07/professional-business-plan-writer/

- http://www.rpxgroup.com/commercialization/business_planning.asp

- http://www.businesstouch.info/importance-business-planning/

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Posted in: Benefits,BusinessPlan,Experts,Tips

Game On! Integrating Social Media in your campaign using Contests.

We have discussed in previous posts the importance of incorporating all the different social media platforms available in order to attract more people to your events, conventions, trade-shows and even your company profile. (For more information on the importance of integrating social media to your campaign click here) However, there are even more ways that social media can help you bring more traffic to your website, blog or page. Featuring contests, competitions and/or coupons can help bring more traffic to your page, resulting maybe in more sales, more downloads or more clientele.

A recent example of this new technique is the American sporting goods store, Callaway. Famous for their golf equipment and goods, Callaway has become one of the biggest brands in the sports industry. With artist endorsements and sponsorships, Callaway has been able to appeal to a younger audience and attract people to their brand.

Like many of today’s companies, Callaway can be found in numerous social media platforms like Twitter and Facebook. [Want to follow them on Facebook? Like them here] Recently, they have created a father’s day contest; Tee off with Diablo Octone and Justin Timberlake, where the lucky winner wins a set of Callaway clubs, meet Justin Timberlake and play golf with him. For more information on the contest you can visit Callaway’s official website http://www.callawaygolf.com/Global/en-US.html or click here.

In order to enter the contest you must like their page first in Facebook. This guarantees a member in their Facebook page, giving the company access to your profile, likes and dislikes, and most importantly your information where more contests, equipment, and news can be distribute in mass quantities.

As you can see very well known brands are incorporating contests and/or competitions to their marketing campaigns. The mix of utilizing social media and attractive techniques like the contests can benefit you in many ways; bringing you more traffic to your site, more followers, and customer data. All of these points can be used as evidence of a successful marketing campaign.

Incorporating these types of techniques in the event planning industry can be easy and very entertaining to your clients or customers. For example, if you are participating in a trade-show doing a contest or a giveaway can bring more people to your booth. The contest can require people giving you their information, which you can later use as data for emails or newsletters.

Remember to be creative and unique this is the only way your company, business or corporation can be successful. Using everything the Internet has to offer can benefit you no matter in what industry you are, make sure you integrate social media to your marketing plan in order to achieve your marketing goals.








Resources:
Information
-http://www.slideshare.net/socialmediaanswers/integrating-social-media-into-your-marketing-campaign
-http://www.callawaygolf.com/Global/en-US.html
-https://www.facebook.com/Callaway?ref=ts&sk=app_111452482273231
Pictures
-http://www.tributemedia.com/blog/kelsey-bates/nows-time-be-unique
-http://www.penn-olson.com/2010/01/27/top-10-social-media-countries/
-http://hookgolfswing.com/golf-gear-and-reviews/top-golf-club-makers.html

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Help Us, Help You!

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Marketing?...Go Digital!

We have established in previous posts the importance of incorporating new technologies and social media in events, conventions, meetings, etc. However, social media is just one channels of digital marketing. Marketing has evolved tremendously over the past few years. Now incorporating RSS feeds, podcasts, search engine optimization (SEO), pay per click ads, and SMS and MMS messages will enhance the way you market your event, product or service. Although marketing and promoting events depend on the theme, concept and target market of the event itself, event planners can benefit from digital marketing since one of it's benefits include getting immediate feedback from the consumer.

Taking advantage of all the services the Internet offers can help you increase and improve how you market your convention, meeting, trade-show, conference and/or seminar. Google search engine provides several tools that can help you create a more efficient digital marketing plan. One of these tools is called a Google Analytics. This is a free and easy way to keep track of your website traffic and marketing effectiveness. 

"Powerful, flexible and easy-to-use features now let you see and analyze your traffic data in an entirely new way. With Google Analytics, you're more prepared to write better-targeted ads, strengthen your marketing initiatives and create higher converting websites." 

This is a great tool to have. For more information on the product and how to use it see the video click here.

Another tool event planners can use to enhance their event's marketing plan incorporating digital marketing is Google Webmaster. This is also a free and easy tool that helps you get data about crawling, indexing and web traffic. In addition, it sends you notifications every time there is a problem with your site. With Google Webmaster you can find out how Google views your site and how it is ranking it. You can also analyze data and see how many people found your site in search results, and how many people actually clicked on it. In addition, it tracks from all over the Web and shows you who added a link to your site. It also creates sitemaps in order to see how many pages have been added to your index. For more information on this great tool see this video. 

As you can see search engines like Google are offering numerous services, for free, that help website owners learn more about what their visitor's trends and habits. This way website owners can personalized and enhanced their marketing techniques with actual and exact information. These are only a few tools you can utilize in order to obtain the best results when using and applying digital marketing. For more details on What is Digital Market? this is a good blog article, which explains and defines what it is exactly. 

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