Budgeting for some people is really... well... unsexy. But it is SO necessary if you:
- Want to know exactly how much money you have made on your event
- Want to determine if your event is financially viable as an income stream or if it should be used as more of a marketing exercise
- Want to make positive changes to lead to a better financial outcome
Any event should have maximum impact for every dollar invested so doing the numbers is crucial!
My toolkit features a comprehensive budget that covers income and expenditure by group, but the basic premise of a budget is that you list your expenses and income to get a true picture of your profit or loss. It is something that you keep adding too and track regularly.