4 Ways to Manage Your Event Budget

Ever find yourself in an event budget situation that feels like a nightmare? At Austin Best Events, we like to think of these challenging situations as fairytale opportunities. Cinderella, to be specific. There you are, six months into your dream of the fabulous ball, when “poof!” the wicked stepmother (or CFO) dashes your dreams by cutting your budget. Despondent that you’ll be destined for a future of scrubbing the floors – or subpar frozen appetizers – you don’t know what to do. That’s where working with the professionals at Austin Best Events pays off. We’ve seen many budgets take U-turns well into planning. It’s not fun, but here are a few “happily ever after” wand tricks you can use trying to hit your goal number. And, unlike Cinderella’s magic, these don’t disappear at midnight.

It Never Hurts to Ask

The mice in Cinderella didn’t know they’d become carriage horses. They had to have their eyes opened to the possibility. Similarly, vendors, sponsors or other event supporters might be willing to donate special items. However, you won’t know if you don’t ask. For a simple acknowledgement, you might just snag that vintage vehicle backdrop or fabulous SWAG.

Nevermind – Don’t Try to Book the Next Nirvana

Live music is big in Austin. However, that doesn’t mean that you always have to go for the biggest name if you want live music. You’re most likely planning a multi-faceted event, not a full concert. Allow live music to support, not dictate. Acoustic music often provides fewer complications (read: expenses) than a full band. Consider other options, such as a creative string quartet, energetic jazz trio or a talented solo singer/songwriter. Many lead singers of popular bands often book solo events to highlight a different aspect of their music.

Get Specific

Open-ended items cost you money. “Whatever you think is best,” leaves you vulnerable, especially in areas such as floral and catering. While those off-season white hydrangeas may look lovely at a winter holiday party, you’re paying extra for that rare privilege. Instead, request that all arrangements feature only in-season selections or request specific lower-budget items. The same goes for catering and your bar selection. Don’t just conform to a package as offered. A few specific requests or substitutions can save more than you think.

Stick with What Truly Matters

Finally, give every single detail a hard look and ask yourself if it aligns with your goals. Do the slippers have to be a custom glass numbers or would a knockout pair of Jimmy Choo strappy sandals cause the same heads to turn? Think about what you need to convey your message, what items form the most memorable impressions and place everything else in a category open to cuts. We often find the smallest of details make the greatest impressions, so consider this before only saving the top-budget items.

A cut to your event budget doesn’t have to spoil your enchanted evening. Smart planning saves you every time. That’s why it’s so important to work with professionals like Austin Best Events. Our knowledge boosts your ROI, and the amount we can save you in strategic event planning often exceeds our fees. So give us a call. We may not be able to turn pumpkins into Porsches, but we can make sure you – and your attendees – have a ball on budget.