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Money / Financial management

This is how much tomorrow’s Christmas party will cost me (not including extras)

Can I share something? I'm organising a posh Christmas Dinner tomorrow, and when I put it on sale, a fair few people got shitty with me about the price.

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So here’s a reality check.

MOST PEOPLE WHO RUN EVENTS DO NOT MAKE MONEY!

The amazing conference you went to? They broke even.

That lovely retreat. They lost money.

The one day workshop? Just barely covered costs.

And it’s not because of mismanagement or stupidity.

Nope, honestly. Some of the smartest people I know lose money on events.

Some super famous people that you think are awesome, lose money on events.

Why?

Events have tight margins.

Venues cost a shit tonne.

AV is exy.

People want to eat actual food! And sponsorship is hard to come by.

The smashing dinner I’m organising?

Here’s the pre bill, you do the maths, by the time I’ve bought some Christmas crackers, nice goodies and things, I won’t have enough to cover my hotel for the night.

Let alone the time my team and I spent organising it and trying to sell it.

Of course, there are other benefits:

Brand building

Community building

Getting to hang out with 21 of my favourite humans.

But yeah, thought this was worth a share… cos sometimes

I reckon some folk think the price represents greed.

And it really really doesn’t.

This post originally appeared on Kate Toon’s Instagram page and is republished here with permission. 

Kate Toon

is a copywriter, SEO lover and Hula Hooper based in Sydney. She’s the author of Confessions of a Misfit Entrepreneur | How to succeed in business despite yourself. Connect with her on Google+, Facebook, Twitter and LinkedIn.

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