Operating on a Shoestring Budget
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Transcript of Operating on a Shoestring Budget
Operating on a Shoestring Budget:Controlling Costs & Maximizing Resources
Michigan Meetings Expo
Monday, June 17, 2013
@AaronWolowiec
AaronWolowiec.com
↠ Budgetary concerns
↠ Controlling costs
↠ Maximizing resources
↠ Strategies
↠ Wrap-up
Controlling Costs
Actual CostsBudgeted Costs
Controlling Costs
Variance
Actual CostsBudgeted Costs
Example: Food & Beverage
Tips: Food & Beverage
• À la carte• Fewer options• Counts/trends• Overage policy• Work with chef• Hold dessert• Pull break items• Water pitchers
Maximizing Resources
Possible UsageCurrent Usage
Maximizing Resources
Variance
Possible UsageCurrent Usage
Example: Professional Speakers
Tips: Professional Speakers
• Blog post• Twitter chat• Facebook discussion• Promotional video• Newsletter article• Magazine interview• Webinar (pre/post)• Other onsite events
Final Thoughts
TAKEAWAYS• Control costs by decreasing actual costs to
meet budgeted costs.• Maximize resources by increasing current
usage to meet possible usage.APPLICATION• Critically evaluate your expenses.• Implement incremental changes.
Meeting Minds bloghttp://bit.ly/19FNlZrWolowiec: Instead of “Justifying Expenses”, think “Demonstrating Conference Value”
CIC Publicationshttp://bit.ly/19FNBaSProfessional Meeting Management: Comprehensive Strategies for Meetings, Conventions & Events, Fifth Edition
Aug. 5, 20133:15 p.m. – 4:30 p.m.Building Financial Momentum Through Meetings & Membership Collaboration
July 9, 20131 – 4 p.m.Building Financial Momentum Through Meetings & Membership Collaboration
July 10, 201310:15 – 11:30 a.m.The Meetings Report: Five Game-Changing Tactics Redefining Education Strategy and Success
Aaron D. WolowiecMSA, CAE, CMP, CTA
(616) [email protected]
50500aaronwolowiec