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Every time whenever you witness a gala award function, pop concert or a beauty pageant you must be wondering how the massive pomp and show has been set up or who has executed it. Every minute detail from your entry into the venue to your exit is a result of rigorous planning. Well that is what ‘Event Management’ is all about.
It must be quite assuming to note that whenever someone asks us ‘what is event management’ we are somewhat taken aback as it seems fairly self-explanatory. However later it appears that there are a great deal of assumptions and false presumptions regarding the industry and what an event Management Company actually does.
Over the last 10 to 15 years, there has been an enormous growth in the event management industry. Event management is a way of outsourcing occasions that are either business, social or a combination of the two. Events can be as diverse as weddings to political rallies. For any business meeting or social occasion an event management team can be called in to organize it.
It has become one of the fastest and the most upcoming glamorous profession today as around USD 500 billion is being spent annually on planned events around the world. Event management has also become an ideal platform to rub shoulders with who's who of the corporate world.
In the business arena, corporates often ask the question ‘what is the point of having an event manager,’ if they had a bad experience with an event manager who didn’t understand their own role, or if they have always used internal administrative personnel to run their events. Event management in the corporate world is all about delivering an event with a full appreciation for the core aims, whether it is commercial, part of a marketing plan or other.
Event Management is exactly what it sounds like; it is the effective, safe management of an event. An event can be anything from a wedding to a party to a ball to an exhibition to a concert, a highly corporate meet and so on. And management means the all encompassing holistic approach to the event from start to finish.
There are a number of companies hosting and organizing events on a regular basis. These range from the small time private events to the large-scale international events. The large scale ones do happen far rarer, but then the returns they churn out are far beyond expectations. Many events in the past have ended in a debacle for the hosts and sponsors for varied reasons. But then, all said and done, event management is about organization and execution, and that is precisely where the money lies. Those in the field are paid handsomely for these services.
Today, there a number of people, who have ventured into the field because they realize the potential of the market where demand and supply is concerned. In fact, the most profitable aspect of this field is the need for creativity. And that is where you earn more. If you want your event to be successful and look impressive to potential clients, then event management is the way to go.
Events could be just anything ranging from concerts, product launches, conferences, promotions, press conferences, jubilee celebrations and fashion shows. The range of events that an event management business can supply is impressive. They can arrange events for a group of small people to large group of even 5000 people attending it. Most businesses rope in an event management team as they want their expertise in the field to be second to none. Planning an event is time consuming, stressful and costly. Event management teams have contacts within their field in order to obtain the best price quotes and the most reliable service.
Event management does mean lots of moolah, but it also demands lot of discipline and meticulous planning to be in this profession. Planning an event is an event in itself. Your job begins with the very basics. The client comes to the event manager with a vague idea in mind. It is entirely up to the event manager to work on the idea and turn it into a reality. In fact a person organizing the event must be the master of all trades and manager too.
To start with, the management of events calls largely for coordination. The first thing required is to get the orders for the event. This process is also known as pitching for an event. Usually, whether it is for small time events (weddings), or for the larger ones assigned by companies (exhibitions and trade fairs), or the international concerts; the event manager or company is asked to submit a project report, with the moolah involved in it.
On the basis of this the assignment is allotted to them. These are the pre requisites that a professional event management team will have firsthand knowledge of. An event manager has to first design the basic framework, after which he prepares the marketing plans, hunts for sponsors, works on the logistics, locates the site, contact vendors, hires performers, prints/mails invitation cards, creates menus, looks after the lighting, books the artistes, arranges for transport for different people, and on the D' Day co-ordinates, plans and finalises every aspect of the event.
The work that event managers do is not a one day herculean task. They usually start working months before the event. In order to simplify bulk work, large event management companies hire the services of smaller companies on a contract basis.
Those of you who are eyeing a career in event management here is a brief snapshot. Scroll through the list of strengths and abilities to gauge if you have the necessary skills. If you meet at least most of these criteria, then a career in event management may well be for you:
A person who enters into this field has to first join as a trainee. He then becomes the promotion coordinator. Nowadays lots of young people are hired for this post. The nature of job is very basic which one can do on a freelance basis also. The next job in this field is event co-ordination. The main job of an event coordinator is to supervise the various stages of planning in event management.
Event management has become an excellent field to extra and once you start getting the feel of the field, it will never be a problem. It is a very lucrative profession. Remuneration depends on the kind of events you handle. If you prefer to deal with weddings and parties it may easily come around Rs. 50,000 or even more. Event coordinators with a good deal of experience could earn even in seven figures.
Similarly if you are thinking to start an event management company your success in this business will depend upon, not only on your experience and knowledge level but also on your contacts i.e. PR, negotiating, marketing and entrepreneur skills. A flourishing business is one of the most impressive incentives to a potential investor. Initially an event management team may cost you money, but it may also make you money in the future. So if you think you have it within you then go ahead and take the plunge.
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