Events can be a great way to increase the visibility or your Venture in the community, raise money, celebrate your successes, and have fun. However, your Venture Team should make sure the event’s purpose is important enough to merit the time and expense needed to properly organize, publicize, and run the event. Below are some things to consider as you are plan an event:
Decide if an event is worth it. Events can be a lot of work and quite costly. If your goal is to raise money at your event, ask yourself, “Will my Venture end up spending more than we will make on the event?”
Set goals. Really think through your goals for the event. Who is the event for? What is the purpose of the event? Why is your Venture having this event? Who will be involved? Answering these questions will help your Venture Team decide how important this event is and how much money the team can dedicate to it.
Budget Your Event. It is important to create a budget for your event so your team has an idea how much can be spent on each part of the event. Your budget should be specific. It should include opportunities to raise money (sponsorship, ticket sales, donations, and concession sales) as well as expenses (printing, permits, speakers, and food). The Youth Venture tip sheet, “Event Budget Template”, provides a helpful form that you can use for managing your finances as you plan an event.
Keep Records. Create a binder for your event full of information on strategies, contacts, budget items, evaluations, press clippings, and other relevant information. That way, when your Venture Team starts planning a similar event in the future, they won’t have to reinvent the wheel.