Business Meeting & Event Planning For Dummies, 2nd Edition

Chapter 13

Drinking Champagne on a Beer Budget

IN THIS CHAPTER

Establishing and managing budgets

Making a profit

Achieving cost savings across the board

Money makes the world go ’round. And when it comes to meeting planning, money can probably get you what you want. However, few event planners have the luxury of an unlimited budget. Your boss may caution you to spend less rather than more … and still expect miracles.

For most planners, preparing and managing a realistic budget is serious business. You need a budget to chart your way safely through the rough seas that invariably blow in when planning events. It definitely helps make you a better negotiator because you have a clear vision of your event and where and how the money is best invested to get the most bang for your buck.

With this chapter, I want to make budgeting smooth sailing for you. By discovering some fundamentals that can keep you out of harm’s way, you can ride a relatively calm sea. In addition, I’ve stuck in some handy cost-cutting tips to help you do more with less.

Preparing a Budget

A budget is not an isolated tool, but rather one you prepare in line with your meeting objectives. And if your meeting has ...