Although you need to know the specific details of an event project to quote accurately you still need to know your hourly and daily rates and to share them confidently.
Get your price right: Ideally have a room that you can close the door on at the end of the day, rather than being reminded about the mounds of paperwork on your desk and hearing the phone ring after hours! You may also want to offer set packages or have an introductory offer to entice people.
This will obviously depend on the role you have currently to ensure that you are not in breach of contract — make sure you act ethically and fairly to your current employer.
Research your competitors to find out how they charge and an idea of pricing. You can design the space based on your work preferences.
You are likely to work the longest hours of your life, working 80 plus hours a week is not unheard of for business owners. It can be very difficult to gain this information but if you can get an understanding of how your closest rivals price their services it will be very revealing indeed When you get an inquiry, make sure you ask lots of questions and get all the details you need to understand the project before quoting.
Discuss your aims with your partner and family to try to prepare everyone for the change of lifestyle and circumstances. Take down all the details to enable you to calculate and create a proposal to share with them Understand the Realities of Starting a Business Think about how you are going to survive as it may take some time before money starts coming into the business and you still need to be able to pay your bills during this period.
Confirm Your Pricing Strategy and Fee Structure Thought needs to be given to your pricing and fees so you know how to answer questions about your costs. Perhaps you want to use a room with a view or perhaps staring at a brick wall would be better for your concentration. Every event is different Create a list of questions to prompt you to ask anyone interested in your services.
Other pricing methods you might consider are taking a fee as a percentage of the total event budget and taking a commission on any items booked related to the event. Your salary is directly linked to the amount of profit you can generate.
The buck stops with you. Consider whether you will quote on a fee basis or a time-charge basis.Take your business towards immeasurable possibilities with Globe Business, a partner who shares your passions. Globe Business Postpaid Plan & DSL Internet's photo.
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