Even the most successful New York event planners experience stagnant growth with their businesses. And if you’re struggling to scale or grow your event planning services, here are a few reasons to consider. If any of these scenarios sound familiar, we’ll offer suggestions to help you overcome those growth challenges.
1. There’s a Quality vs. Quantity Issue
As you evaluate your company’s growth trajectory, you might spot a problem with quality versus quantity in your clients, types of events, or vendors. You won’t be able to grow or scale your business if you’re booking more of the wrong types of events or are struggling with mediocre event vendors. Get focused on defining what a quality event client or partnership looks like for you. Then, rework your processes and strategies to align with the highest quality at every level of planning, from clients to venues.
2. You’re Struggling to Control the Details
If you’re thinking there’s no way I can scale my business and maintain the same level of service and control, it’s time to delegate. Scaling businesses are made possible when leaders learn to assign responsibilities for tasks and operational to-do lists to others. When you can use your expertise to grow and scale, entrusting the day-to-day with your staff, you’ll experience monumental growth!
3. It’s Hard to Pinpoint Your Profit Centers
For some New York event planners, there are so many “irons in the fire” that it’s hard to tell what’s working and what’s not. If you struggle to identify what your core profit centers are or where the bulk of your event planning revenue is coming from, it’s time to change things. When you reinvest company earnings back into your business, do so using the metrics and analytics that show you what your core profitability areas are. Stop chasing wedding clients if you’re dominating the corporate event space right now. It doesn’t mean you have to stop planning weddings. It just means your growth point should lead with the service generating the most ROI.
4. Event Planning Tools Aren’t Helping
You might be experiencing stagnation in your event planning business for another reason – your tools and resources aren’t helping anymore. It’s not uncommon to adopt a software program, a method of planning, or a process that works well for a time but then becomes less effective. Consider evaluating all the tools in your arsenal now and use data to determine if they’re still helping you save time, money, and stress. If you’re not sure or aren’t seeing the results you once did, consider finding new resources and tools that are more effective. You won’t scale or grow using the “old” ways that no longer work for you.
Keep these scaling and growth tips in mind as you develop and improve your event planning strategies for a BIG 2023. And remember, if you really want to scale your brand awareness and presence, be an exhibitor at The Event Planner Expo 2023! Click here to learn more!