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2. Make a budget and stick to it….

2. Make a budget and stick to it….

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Itemize all expenses.  Management is key. Don't overlook any expense. Every 'little' cost adds up, and as the Event Planner you have to pay yourself at the end of it all.  Don’t short yourself. Inspite of the total of your budget, always try to put aside 5% - 20% of the budget for a 'cushion money' situation that may pop-up.  This is your safety fund. Put the high-ticket items at the head of the list. Make sure to check them off as you go along.  Make payment plans, especially for contractors like photographers, makeup artists etc… Pay in installments and keep receipts.  Work with a spreadsheet of some sort for each new event.

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Factor in the small or unrelated things like gas for transportation. Use technology to assist you to find best options and ROI i.e. return on investments. There are multiple software programs which were built to facilitate the process. Focus on the primary things that you excel at and find other ways to eliminate and or delegate the secondary factors. Time and money are your greatest investments.

Your advertisement budget should be based on the size and nature of your event. If it's a 'large event' make sure to checkout advertising apps like ToneDen, and conduct an A/B testing automatically to generate options that show which of your ads lead to actual sales. Just in case a vendor becomes a 'no-show' always have someone-else on stand-by.  Compare vendor prices and performance history between atleast two options before you select one. No matter how small the event, work with a plan A, B and C. It’s best to have a contingency plan. 
 
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