Large Budget Busters For Your Seminar Or Workshop

When you are planning your first workshop or seminar, it is simple to fall victim to some mistakes. Whether or not it is overbooking hotel rooms or going in with out a clear technique or plan, creating mistakes like this can quickly turn a successful workshop into a failure. Another mistake that can affect the profitability of your event is letting your costs get away from you. Many first time workshop planners are surprised by some of the expenses they encounter.

Sometimes it is because you have some unexpected costs and other occasions you just didn't plan for the costs that are involved with planning a workshop. It's so easy to do simply because you believe "I'm going to need this and need that", but prior to you know it you spend a couple of hundred or even $1,000 dollars you hadn't planned on. Here are some of the costs that can be large budget busters.

- Service Fees. That can add a fast 25% to your spending budget on everything from food and beverage, audiovisual gear, as well as meeting room rental. - Gratuities. From housekeepers to set up crew and every thing in between, it can add a number of hundred dollars to your costs. - Taxes on service fees. Service charges are taxable. So not only do you pay the service charges, you spend tax on it as well. - Resort Fees, parking and other hidden charges. You might not use them, but you could very well have to pay for it.

Be sure that all the charges are disclosed in your venue contract and that you take note of it. Even though I am not an lawyer, you may want to believe about a clause in your contract that states you will not be paying for any service charges unless they are disclosed up front in the contract.

The very best way to control your costs is to have a running spending budget document where you keep track of all your expenses. This is something I do for my customers as part of the Winning Workshop Road Map. I create a spending budget for them that lists all the revenue streams but also all the costs that you can anticipate. All the formulas are currently integrated, so once you get billed, fill in your actual expenses and you can see precisely exactly where the bottom line is going. It is a potent tool that is indispensable for any workshop or event.

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