Event management, good business in recession

As many Nigerians continue to wriggle their ways out of the disturbing and biting economic conditions that have left many homes struggling to meet up with financial obligations, one venture that has continued to thrive is event management services.

The prospect of the business to stand any economic condition rates it high among other entrepreneurship skills. It has also helped to correct the wrong impression that it is a cast-off venture. Recession or not, people, especially from this part of will always have reasons to associate, socialite and celebrate with one another.

Experts in the field have also claimed that no economic condition is capable of stopping Nigerians from holding parties, hence the need for the services of event management.

As businesses continue to fold up as a result of the poor state of the country’s economy, many event management companies have continued to count their blessings as they smile to the bank. The reason for their sudden financial turnaround is not far to seek. While things continue to get bad for some businesses, those who have ventured into event management are enjoying every moment. Week in week out, many event management companies are busy with one party or the other, they simply have no reason to complain or sit back and expect things to get better, their jobs give them financial empowerment.

These prospects have given those who engage in this business a leverage just as it also gives beginners confidence to be successful and profitable as an event planner. It is believed that an average event planner makes between N250,000 and N500,000 every week depending on the clients involved. It could even go higher if the clients want to have a big do of the event in question. The bigger the event, the richer the event planner.

A career in event management can certainly offer roles which involve plenty of different skills, with the added benefit of offering the potential to develop a specialist area as the career progresses. Any event organiser that craves to survive the thick and thin must be ready to be responsible for any production of events such as exhibitions and fairs, conferences, festivals, fundraising and social events, productions and product launches from conception through to the completion.

According to a Lagos-based event manager, Damisi Mamud, who handles jobs for big brands in the country, “the role of event organisers is hands-on and often involves working as part of a team and they must be able to complete a wide range of activities requiring clear communication, excellent organisation skills and attention to details. They must also be ready to work under pressure, and ensure the smooth and efficient running of an event. It is true that we make money, but the risk involve in this line of business far outweighs the gains.

“When a client has paid you to provide a Grade A service, but a little mix up or oversight could cost you more than you ever bargained for. In a situation whereby you have been paid almost half a million naira for a particular event, but you failed to tidy up your end, you may end up losing such client and other bigger jobs that could have come through such person.”

Mamud added that the job keeps him busy every weekend, but it does not come everytime.

“According to him, “Those who say we get jobs every weekend are right but they also fail to know that jobs don’t come every weekend. There had been weeks that I didn’t step out of my house because the quality of job that I was offered would lower my standard and put me out there as someone who does not understand the job. So, my best bet in those days was to turn down the job and pray that a better one comes,” she added.

Guaranteeing success in event management

There are various important notes to keep in mind for those interestd in achieving success in event management.

Responsibilities

For starters, good knowledge of the responsibilities of an event manager is key to determining expertise in this field. The role of event organisers varies depending on the organisation and type of events involved. The responsibilities include researching markets to identify opportunities for events; producing detailed proposal for events such as venues, timelines, suppliers, staffing, budgeting and legal obligations; agreeing to, and managing a budget; securing and booking a suitable venue or location; liaising with clients to ascertain their precise event equipment; ensuring insurance, legal, health and safety obligations are adhered to; coordinating venue management, caterers, stand designers, contractors and equipment; hiring and organising facilities for car parking, traffic control, security, first aid, hospitality and the media.

Attractive salary

Salary is another major aspect that will improve productivity as well as keep the work force alive. This also determines the survival and avoidance of any hitches when discharging responsibilities. Salaries vary according to employer, sector and geographical location. Performance-related pay, commission and bonuses are also typical and can increase earnings.

Skills

Skills are what any event manager must possess; it shows one’s quality and versatility. Excellent organisational skills and attention to detail must be highly considered. Project management experience, time management skills, ability to work under pressure, problem-solving skills and diplomacy are some of the hallmarks of a skilled event manager. Flexibility and adaptation to approach must also be painstaking, especially as a measure to survive in recession.

Professional development

The more developed one is, the greater one becomes grounded and excels in any profession. It is vital to develop in skill and knowledge and one can only achieve these through innovation and trainings. However, trainings opportunities vary depending on the size of the organisation one occupies. Training is classically offered through short courses, run either in-house or externally.