Let’s develop a business plan for an event agency affected by COVID-19
The world for all of us has changed overnight. The defining moment for us as event professionals was on 28 February when the ITB Berlin was cancelled, followed by IMEX Frankfurt cancellation on 11 March. Two big European trade shows that were significant for us, but also for numerous international event agencies and suppliers involved directly or indirectly.
In the current situation each day feels like a month, and the news is not becoming more promising for the event industry as we know it. It might take months before the business gets to (the new) normal, and it is clear that certain things will need to change in our business strategy to adapt to the new reality.
We’ve been reading the unfortunate news of event businesses needing to furlough employees or closing down, it breaks our hearts. As much as it might be hard now, success comes often when we’re faced with adverse situations. The only thing we can do now is to come together as an industry and think about solutions that make our businesses more secure in the future.
The way we work and communicate will also evolve and take place increasingly online when the businesses reopen. That knowledge means it will require adjusting and evolving the current business models of an event agency.
We don’t have the solution now, but collectively we can find it. We are excited to host our first online #eventprofstalk hackathon about ‘creating and developing a 12-month business plan for an event agency affected by COVID-19.’
Grab your fellow event industry professionals and join us from April 23 -25! We are looking for innovative and out of the box thinking ideas for developing a 12-month business plan for an event agency affected by COVID-19.
Ideas to include in the plan should involve:
- How to maintain networking.
- Selecting travel when businesses resumes.
- Noted webinars to attend.
- Keeping in contact with clients.
- Developing alternative income streams.
- Business goals.
- Additional ideas.
Be as creative as you want in terms of presenting the business plan! The winning plan will be published on the Event Planners Talk website and shared with the global event community on the website and social media channels.
How does it work?
We’re looking for innovative and applicable solutions for an events agency. After registering, you will be added to a Slack group with other 7-10 participants and you can start working on your solution straight away. We have provided initial guidelines for the business plan, and anything beyond is open to your imagination, creativity and problem solving skills.
The challenge will run for 48 hours, starting on April 23 at 8pm BST, and finishing on April 25 at 8pm BST.
This event is not just for participants from event agencies, this is a collective industry effort where all event stakeholders are welcome to participate: MICE destinations, DMCs, venues, hotels, AV providers, caterers, students, freelancers, associations – everyone is welcome! Team members from the same company are welcome but will be placed on different teams.
How will participating benefit you?
- You will actively contribute to supporting the global event industry by working on creative solutions.
- You will expand your network by working in a small group with fellow event professionals and in the process will be able to build new business relationships.
- The winning entry will be published on the Event Planners Talk and promoted on our social media channels.
- You’ll be working in an innovative and fast paced environment and gain new learning skills that you will be able to apply to your event business.
If you have any questions, don’t hesitate to get in touch by responding to this email.
We are so excited to see what you come up with! Places are limited, so make sure to sign up quickly HERE.