When you’re in charge of planning a meeting, staying within your budget is probably one of your biggest worries, but it shouldn’t have to be. With a little extra effort, staying within budget can be the easiest part of meeting planning. Here are a few tips to help you out with the financial aspect, so that you can spend more time and effort on the important parts of your meeting.
1. Make sure you know your budget. If you know your exact limits verses a guess or estimate, you are more likely to stick to it.
2. Stay organized. This one seems simple, but before you even begin the planning process, make a list of items you’ll need to pay for. These might include transportation, entertainment, refreshments, technology rentals, accommodations if your meeting will involve out-of-town guests, renting a location if it won’t be at your office, and more. Figure out how much of your budget you can afford to assign to each aspect and try to leave a little extra room in case something comes up.
3. Be flexible. If you have specific expectations about dates and locations, you may find yourself having to shell out a little extra money to pay for those expectations. Some places, such as hotels, might give discounts if you’re not 100% set on a date.
4. Have a back-up plan. Something can always go wrong when you’re planning a big meeting. Consider the possibilities and decide what you can do in the event of an emergency. Not having a back-up plan could result in spending tons of extra, unnecessary cash.
5. Rent any necessary technology. In today’s world, technology is king, and any successful meeting requires at the bare minimum a projector. Renting a projector is a great alternative to purchasing one when you’re trying to stay within a budget. You’ll pay a small fraction of what you would when you purchase a new projector and you can rent it for as long as you need. Many meeting planners also rent laptops so that each meeting attendee can use one to access websites, take notes, and perform other tasks related to the meeting.
