- an estimate, often itemized, of expected income and expense for a given time in the future
- a plan of operations based on such an estimate
Want to plan a lavish conference with plenty of goodies and giveaways for your attendees? Or maybe you were thinking of having a simple one-day conference for hundreds of attendees with an open bar? Whichever you were envisioning, the budget will determine what your event will actually look like. Regardless of your revenue for the year, saving some money is always nice, but it’s not always possible. However, choosing a budget and sticking to it is the first step to long-term financial growth. In this month’s Education Essentials, we’ll give you some tips for how to put finances at the forefront of your conference planning.
Budgeting Made Easy
Let’s face it, nobody likes to create and manage a budget. This blog post from Katie Senkowski and Susan Wylie offers some quick tips that will walk you through the budgeting process, step-by-step. Included is this infographic that further breaks down what you should consider when planning a budget.
Creativity on a Budget
At the 2017 Summer Symposium, members of the Spice Up Your Event Within Budget panel were asked several questions about how they keep things creative and exciting while on a budget. Ranging from recruiting local student groups as performance options or using bean bag chairs for seating, the panelists had great insights to offer. Check out their full responses here.
#TBT - The FICP Pulse Survey Report
Check out what your peers are experiencing and consider these areas when creating your next budget. FICP’s Pulse Survey series continues – help us continue to bring timely trends-based information to you by completing this Meetings Professional or Hospitality Partner Survey by October 6! (NOTE: Surveys are now closed)
Prioritizing Your Planning
Deciding that you want to have a budget is the first step, but understanding your priorities is often a more difficult one. What’s important to you? Check out this Ask Ed post from TheNetwork about finding ways to prioritize and maximize your budget.
While in TheNetwork, share your best practices for budgeting. What resources do you like to use? Are there any additional questions you’d like to ask the FICP community in regards to best practices for budgeting? Let us know in this discussion thread.
Meeting Breaks (Without Breaking the Bank)
Check out this Pinterest page for some fun and innovative ideas on how to create an engaging meeting break that will help you save money.
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