Organizing a music event can be fun, but if you are given the task of putting a show together, keeping your eye on the bottom line is still important. You can plan all you want but it will all boil down to your expenditures and how far you can get each dollar to take you. A few useful tips for organizing a good event with the time and money you have:
Tip 1 – Ask the right questions:
There are a plenty of questions that come to your mind, for example, how can you organize a music event? Or how can you find venue where you can hold that music event? How much do you need to pay for decorations and marketing? How can you arrange for a PA? How can you collaborate with local businesses to help alleviate costs? How soon ahead of time can you afford to start publicizing the event to get the right audience (and a lot of them) to show?
Ahead of all of these concerns, your budget has to take number-one priority, but getting these questions down now, at the beginning, is still a must. Think of it this way: you absolutely need to make sure that you are giving yourself the tools you need to budget your even wisely, and tracking every issue is important.
Tip 2 – Track everything
The benefit of creating a spreadsheet is that nothing gets forgotten, and you can minimize the chance of missing a task or forgetting to cover all bases. For each task or idea, note down:
- Contact info for the contacts involved
- Projected costs
- Factors that might affect the costs
- Risk factors that might prevent that task or issue being resolved properly
As you go through your ideas for marketing and the steps you plan to take to set the venue and market the event, your spreadsheet will also help you track how close you are to your break-even point and which areas you need to push harder on to improve your projected profit.
Aside from your marketing ideas, do not forget to include all the costs and the income factors that are associated with the music event itself. Include the cost of the performers (their fee for the performance, plus lodging and any other peripheral costs), your PA, lighting and other cosmetic adjustments to make the scene more enjoyable, the cost of renting a venue, the marketing that you want to do in order to attract more audience, sponsorship enticements, and the costs of contests, giveaways, and any other promotional events you do beforehand, to name just a few.
In the end, putting together a music event does not have to be a complicated ordeal, but planning right, budgeting wisely, and keeping your budget the priority will help dramatically with your efforts to minimize the stress factor and help your event succeed.