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b'Are you making money or losing money? You MUST have a budget. You must forecast your expenses and plan out your profits to give you an idea of what your numbers may or may not look like. You can\\u2019t wish on a star and hope it will all be ok.\\nHow much money do you have to spend for this event?\\nAre you receiving donations from vendors? \\nWill you be looking for sponsors? \\nDo you plan on having exhibitors?\\nSponsorship is a GREAT way to cover the cost of your event and I know that topic is covered in this summit, so I hope you paid attention.\\nDo you plan on generating a profit from your event? \\nIf so, make sure you calculate that into your numbers, so that you\\u2019re not fighting to save your profit at the end. \\nDo you have a contingency in place? \\nWith everything you do in your event you will need to have a contingency or backup in place, just in case something (inevitably) goes wrong or costs more money than you had originally planned. \\nAlways budget at least 15-20% contingency\\nDid I mention that things inevitably go wrong? If you don\\u2019t have room in your budget, then you could be costing yourself more than just money. Think stress, overwhelm, fear, anxiety...yes...you will create a huge burden of stress. So, let\\u2019s just eliminate that right from the beginning. Plan to have a contingency (or buffer) in your budget for the unexpected.\\nLet\\u2019s look at what you need to budget for\\u2026.\\nVenue\\nDecor\\nDesign\\nEvent Tech\\nGroup Activities\\nEntertainment\\nFurniture Rentals\\nLicensing\\nInsurance\\nWifi\\nElectrical\\nA/V Equipment & Setup\\nStaging/Lighting Rental/Vendor\\nFood/Catering Services\\nHotel Accommodations for:\\nTeam\\nGuests\\nSpeakers\\nAttendees\\n\\nStipend for:\\nVolunteers\\nStaff\\nSpeakers\\n\\nGround Transportation for:\\nTeam \\nGuests\\nSpeakers\\nAttendees\\n\\nSpeaker Honorarium\\nAdvertising/Marketing\\nPrint Services\\nStaffing\\nShipping\\nStorage\\nTaxes\\nFees\\nClean up\\nUnion Fees\\nDeposits\\nCancellation Fees\\nGet your Quick Start Budget Template or your Full Event Budget at eventsbylany.com/rootedtips'