Starting an event business can be an exciting and nerve-wracking experience. You want it to succeed but aren’t sure how to take an idea from conception to reality. A good place to start is by looking inward. Successful entrepreneurs and event planners tend to have common traits that set them apart. By developing these traits in yourself, you can better set yourself up for success with your next event business venture, client, or event-planning project.
1. Passion for Curating Event Experiences
You have to have passion for your new business if you want it to succeed. If you aren’t excited and care about your new venture, then you can’t expect other people to be. Authentic passion is infectious. Effective entrepreneurs share their passion with the people working for them. This becomes a collective feeling that drives everyone to work harder. There is also a greater feeling of accomplishment and success when the team achieves its collective goal of startup growth.
2. Confidence to Manage Every Detail
Being confident helps establish trust and confidence in the people you work with or those who work for you. As an entrepreneur, you must be confident that your business idea and event will succeed. This is leading by example. Otherwise, if you aren’t confident, you can’t expect others to be.
3. Motivation When No One Is Looking
As an entrepreneur, there is no manager or boss overseeing your activity. You only report to yourself. This can be difficult for some people who are not highly self-motivated or disciplined. Entrepreneurs hold themselves accountable for their own success. They show up day after day. These successful entrepreneurs meet self-set deadlines. They review performance data and analytics, holding themselves accountable. And they find motivation in reaching goals.
4. Risk Tolerance for Failure As Opportunities for Growth
Forming and growing a new business is risky. Many new companies fail in the first few years. To be a successful event entrepreneur, you need to have a certain amount of risk tolerance. Many of the most successful entrepreneurs we know today failed many times before finding success. Don’t be afraid to experience failure or setbacks in your quest to become a successful entrepreneur. This could be within a single business or through several different businesses. The key to overcoming the setbacks is to take measured or calculated risks. Don’t be reckless. Instead, be strategic in how you approach risk-taking.
5. Persistence Through Challenges
Some companies see success early on, helping them to grow quickly. This isn’t the case for the majority of new businesses, though. Entrepreneurs need to have a persistent personality. They need to remain dedicated and unwavering in their commitment to the new business. This applies to daily, weekly, monthly, and yearly struggles.
6. Perfecting Leadership Skills Ongoing
An entrepreneur needs to have effective leadership skills. You can probably manage your new business on your own when it is small. However, as it grows, you will need to hire people to help you. These people will work for you, looking to you for guidance and leadership. A strong leader will unite the team, motivating them to work towards a common goal.
7. Persuasiveness to Spread Excitement
The best event entrepreneurs have a magnetic personality that draws people in to those experiences they create. They have the ability to persuade people to do what they want and feel how they feel. This skill is essential because an entrepreneur needs to be able to convince other people that the new business is a good idea. This could be persuading investors to inject capital into the new business. It could be motivating employees, securing favorable supplier contracts, or finding new clients.
8. Creativity for Events and Solutions
Sometimes, it takes creative problem-solving to tackle a new business’s unique challenge. Entrepreneurs do not allow themselves to get mired in the status quo. They take a creative or unique look at problems, allowing them to come up with unexpected solutions.
9. Decisiveness, Both in the Moment and Calculated
One of the biggest challenges that leaders face is being decisive. Decision paralysis creates a stop jam in the growth process. As an entrepreneur, you are focused on growing a small startup into a thriving event business. This means you will be faced with many decisions daily. People depend on you to assess the information presented and make a smart decision. The more decisive you are, the faster designs can be made. This helps the growing business to be more agile, giving it a more competitive edge in the market.
10. Adaptability in Any Circumstance
New and established event businesses need to be able to adapt to changing markets, economies, and consumer demands. Successful entrepreneurs understand this and remain adaptable and flexible. Being adaptable helps foster continued growth. Changing course or strategy means pivoting away from ineffective efforts and finding successful methods faster.
Develop Your Entrepreneurial Skills at The Expo
Working on yourself is just as important as working on your new event planning business. Developing these skills will help set yourself apart by giving you a competitive edge. While working on your entrepreneurial skills, set your business up for success. In-person networking enables you to establish your brand and give it a face. The Event Planner Expo is the perfect NYC hotspot for establishing valuable connections that can help you make your new business a success. Get in the room with top pros at The Event Planner Expo 2024 – reserve your exhibitor booth!
