Big Spending 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 without a clear technique or plan, creating mistakes like this can rapidly turn a successful workshop into a failure. Another mistake that can affect the profitability of your event is letting your expenses get away from you. Many first time workshop planners are shocked by some of the costs they encounter.

Sometimes it is because you have some unexpected expenses and other times you just didn't strategy for the expenses that are involved with planning a workshop. It's so easy to do because you think "I'm going to require this and require that", but prior to you know it you spend a few hundred or even $1,000 dollars you hadn't planned on. Here are some of the expenses that can be big spending budget busters.

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

Be sure that all the charges are disclosed in your venue contract and that you take note of it. Although I am not an attorney, you might 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 best way to manage your costs is to have a running spending budget document where you maintain track of all your expenses. This is something I do for my clients as part of the Winning Workshop Road Map. I produce a budget for them that lists all the revenue streams but also all the costs that you can expect. All the formulas are currently integrated, so as soon as you get billed, fill in your actual costs and you can see exactly where the bottom line is going. It is a potent tool that is indispensable for any workshop or event.

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