Get your objectives right

During the event debrief session, we went through the objectives, failures and successes. Our accountant then gave us the revenue figures and broke down the expenses we spent on. We did not make a profit. I wrote down the figures and we moved on to the next issue on the agenda. A loss isn’t a good thing for anyone but profit wasn’t our main objective for the event. We got to start, received a lot of publicity and gained our first event customers which fit with the objectives we had.

At the start of any business endeavor, the first few months or years is just pure hard work of building the foundation. You will spend more than you generate as you build a brand. Having profit as a key business objective in the early periods of the business is a recipe for disaster. You will be building big castles in the air. Work on a realistic foundation instead by focusing on the right objectives.

Over the weekend, we hosted the first of our monthly set of events. We had a great turn-out; we actually sold a good amount of tickets. The lineup of DJs we had did not disappoint and the crowd responded with enthusiastic dancing. The stage décor was to die for; the team took it to the next level on this one. The press teams on the ground had plenty of work to do as the intervewed the guests and other celebrities streaming in. Our social media pages got a boost as more and more people posted and commented about the event. We could not have asked for a better start to the event series; our team really worked hard on this.