30 Tips for Keeping Meeting Expenses to a MinimumWritten by Susan Friedmann
Money makes world go ‘round. And when it comes to meeting planning, money can probably get you whatever you want. However, few event planners have luxury of an unlimited budget. Your boss may like to drink champagne on a beer budget. In other words, caution you to spend less, but expect miracles at same time. Preparing and managing a realistic budget is serious business, but to score “big boss” points you also need to be a savvy negotiator and cost-cutting aficionado. To help you on your way, here are 30 tips in a variety of different areas to keep your meeting expenses at a minimum without losing quality you strive for. 1. Keep your budget flexible. Be prepared to build in a contingency of 10 percent into your total budget to take care of any unexpected expenses and emergencies. Unforeseen or overlooked costs such as, overtime, overnight mailings, phone and computer hookups or speaker substitutions could skyrocket your budget. 2. Check all invoices. Question anything on your invoices that doesn’t compute against written quotation. Scrutinize your hotel/facility and food and beverage invoices while on-site. Ironing out discrepancies in person is much easier than over phone. 3. Limit authorization. Only a select few should have authority to charge items to your master account at hotel. Make sure hotel has a list of these people, and refuse to pay for charges signed by unauthorized personnel. 4. Review accounts daily. To avoid any major surprises or heart failures when you see final bill, review your accounts with facility on a daily basis. It’s easier to spot errors or make necessary changes if costs are escalating in certain areas. 5. Schedule during low-usage times. If you have flexibility, consider scheduling your meetings during low seasons or days of week when facility is less busy. Booking near holidays such as Easter, Memorial Day, and Labor Day might definitely be to your advantageous. 6. Ask for best rates. Do your research. Check out rack rates, corporate rates, AAA discounts and so on, and compare them to group rates you’re being offered. Call toll-free reservation desk for information. 7. Confirm and reconfirm your dates and event details. Overlooking a detail may cost you big bucks. 8. Request a discount for on-site payments. When facility doesn’t have to wait for payment because you arrange to pay immediately after event or as meeting is ending, they may well be open to a discount for prompt payment. 9. Be conservative with room blocks. With more and more guests using discounted hotel sites for room bookings, attrition on unused rooms can get very expensive. 10. Negotiate comp rooms. As part of your discussions with hotel management, negotiate comp or discounted rooms for speakers, staffs and or upgrades for VIPs. 11. Understand your cancellation clause. Don’t sign anything you’re not completely happy with. Be certain that your cancellation clause is reciprocal, so that both parties get option to back out of contract before a specified date, in case of any changes to original agreement. 12. Negotiate set prices. To help with your budgeting, arrange to pay a specified amount on food and beverages during your entire event, rather than a rate per person, per function. 13. Consult a tax attorney. Investigate tax laws for your business location and event location. You may be eligible for tax breaks that you’re not claiming. 14. Keep room setup simple. Wherever possible use theater style (where only chairs are used) as it is less labor-intensive than classroom-style (which includes both table and chairs), thus lowering setup costs. Also, plan to keep setups same from day to day.
| | 10 Killer Ways To Multiply Your SalesWritten by Carew Davis
1. When you make your first sale, follow-up with customer. You could follow-up with a "thank you" email and include an advertisement for other products you sell. You could follow-up every few months. 2. You could upsell to your customers. When they're at your order page, tell them about a few extra related products you have for sale. They could just add it to their original order. 3. Tell your customers if they refer four customers to your web site, they will receive a full rebate of their purchase price. This will turn one sale into three sales. 4. When you sell a product, give your customers option of joining an affiliate program so they can make commissions selling your product. This will multiply sale you just made. 5. Sell reprint/reproduction rights to your products. You could include an ad on or with product for other products you sell. You could make sales for reproduction rights and sales on back end product. 6. You could cross promote your product with other businesses' products in a package deal. You can include an ad or flyer for other products you sell and have other businesses selling for you.
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