Activity 2 – Undertake SWOT analysis to achieve at

your business idea of a product or services.

SWOT refers to strengths, weaknesses, opportunities and threats. SWOT analysis is a

process where the management team identifies the internal and external factors that will
affect the company’s future performance. A SWOT analysis can help you identify
opportunities that your business could take advantage of to make greater profits.
Conducting a SWOT analysis will help you understand the internal factors (your
business's strengths and weaknesses) that will influence your ability to take advantage of
a new opportunity.

Following are the objectives for why do we need SWOT?

• Promoting strategic thinking.

• To help in decision making.
• Acknowledging the opportunities and threats to the business.
• To better understand the positives and negatives of your own
business. • To organize the factors that work the best and worst for
the business. • Performing pre-crisis planning and preventive crisis
management.

The world of event management has changed significantly over the last few years, with
newer technologies gaining grounds and making things better. The emergence of different
events software has made tasks a lot easier when deployed in event planning; one can even
gain an edge over his competitors. Aside from using these technologies to achieve set
goals, it is important to analyse one’s strengths and weaknesses as an event planner.

I. Strengths

Strength addresses everything that your business can do well or is strong at. All the
attributes that can help you achieve success. It can be either tangible or intangible.

• High motivation level.

• Usage of right event marketing tools.
• Experienced marketing team.
 • Large social media followers.

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II. Weakness

Weaknesses address everything that your business cannot do well or is not strong at.
All the attributes that hinder your achievement as a business. Weaknesses of your
business are opposite to the strengths of your business.

• Inexperienced event team.

• Lack of funds.
• Lack of corporate contacts.
• Few team members.
• High competitions.

III. Opportunities

Opportunities address everything that works in favour of your business.

• Low business start-up cost.

• Minimal cost.
• Dynamic Industry.
• Fun.

IV. Threats

Threats are exactly opposite to the opportunities. Any kind of external factor that refrains
your business from achieving the target or making it a success.

• Economic changes.
• Natural Disaster.
• Strong Competition.
 • Change in market trends.

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Activity 3 – Generate business idea(product/service) for

intrapreneurial and entrepreneurial opportunities
through brainstorming.

Part of planning events can be looking at things from a different perspective and either
coming up with ideas or changing the narrative of something traditional into something
attendees haven’t seen before. This can be tricky and we’ve all inevitably suffered from a
creative block at one time or another. Here are a few ways to help you brainstorm new
ideas.

1. Free Writing/Doodling
Free writing allows yourself to sit down for a set period and write without thinking about
a set train of thought. For example, you write down literally whatever pops into your head,
whether that is words, sounds or feelings and this can help to both free your mind from
the clutter of thoughts that may be overshadowing your creativity but can also spark
inspiration for your ideas later, so don’t throw this paper away!
Doodling works in the same way as it is seemingly mindless but can be your subconscious
trying to break through which means you might find yourself leaving visual cues to
yourself that inspire new ideas.
2. Mind Maps
Mind maps can be a useful tool for event planners when brainstorming because they can
highlight linked processes and help with problem solving and joined up thinking. They
can be particularly useful for those who are visual and it helps to share triggers to spark
other ideas.
You can also use mind maps to follow a thought process and make it easier to
understand the areas that need to be worked on while highlighting how different ideas are
related. 3. Vision Boards
 Dealing entirely in images can be particularly beneficial when coming up with event ideas.
Get inspired by placing images together. Vision boards can sit in the background while
you work on other issues and will catch your eye across the room for momentary idea
bursts without having to waste time re-reading what you have previously done and
covering old ground.
Speed Writing
Set yourself a time limit and see what you can come up with because for some people
they need the pressure and deadline to come up with their best work! For brainstorming ,
60

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second bursts can be beneficial by setting a focus to your writing, for example; catering
ideas for the event. In 60 seconds scribble, down everything you have come up with within
that time frame. While you will get a lot of obvious answers, you will be surprised where
your mind goes and what you manage to come up with when you put yourself momentarily
under pressure.
5. Role Playing
It may sound silly, but act out what you are trying to achieve and put yourself in the
position with others. We often find inspiration through interacting with others that
prompts a new thought process so it makes sense that being specific and putting yourself
directly into that situation would yield some results. Plus, if all else fails you can use the
other person or people as a sounding board for the ideas you do come up with.
6. Collaborative Boards
Sometimes bounding ideas off each other and building on what someone else says can be
all you need to brainstorm your ideas because after all, several heads are better than one.
Other people see things from different perspectives so getting someone else’s eye can
spark a new thought process you hadn’t even considered. Digital collaborative boards
which allow you to share text, images, comments and mixed media formats can be
beneficial for larger teams and to avoid wasting time in meetings as everyone can add
things in their own time around their workload.
Follow The Steps
Usually you know the outcome that you want to achieve and where you are now but it is
the path that is less clear. Coming up with new ideas can be very much the same so you
should try to follow the steps you would naturally take in order to come up with ideas in
 the right process order. For example, if you have an event theme but need catering ideas
look at it in order of courses, food type, event budget and supplier before trying to come
up with fancy display or food station ideas.
8. Voice to Text Software
Some people get physical writer's block meaning they can discuss their ideas easily but
when it comes to getting them on paper they struggle or forget what they are trying to say.
The free flow of speech can make thinking easier and therefore a dictation app that allows
you to speak your ideas and convert them to note form that you can then share are ideal
and also means you can brainstorm on the go!

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9. Make A Change
Whether it is your environment, physical position or perspective, change can foster new
ideas and get you out of a rut quickly. Going to the same room, desk or
office can hinder creativity and leave you with stale ideas so instead go outside or for a
walk while you are trying to brainstorm.
Working at different times or in different positions can also help find your most productive
side and help you come up with new ideas. Standing up or walking around can help you
do two things at once and take some of the stress away from staring at the blank screen or
piece of paper, while mixing up your timings could mean you are less tired and brimming
with more ideas. Ultimately you can’t expect to constantly keep coming up with new ideas
if you are doing the same old routine day in and out.
10. Meditation

You may find coming up with new ideas difficult because you have a lot of mental chatter
that keeps coming to the forefront when trying to brainstorm. This can be the case with
many event professionals as they are often have many jobs to do in a day and in a high
powered environment you are used to multi-tasking and doing a lot of things at once. This
doesn’t necessarily promote brainstorming and can not only hinder new ideas but also
makes you struggle to keep focus.
Regular meditation can help you to not only calm your mind but can also be a tool for
organising thoughts and becoming more creative. The mind is a muscle and meditation is
a particularly useful way of exercising it so that it is conducive to calm and focus which
are necessary for coming up with original, thought provoking ideas.

Brainstorming can be hard but to remain current and competitive in the fast-paced event
industry it is necessary to keep coming up with new and innovative ideas. We have given
you some tips and tactics for brainstorming that should hopefully prevent a block and keep
your creativity juices flowing!

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Let us take an example of corporate event.

Experience is more than just a buzzword. Creating a great experience for event attendees
is essential if you want your event to be memorable. To keep your attendees’ interests
piqued, you need to keep them engaged. One of the best ways to do that is through
entertainment.

Capture the imagination of your attendees with unique performers, fun activities and
unique experiences to create a buzz around your event. It can attract attendees, give
audience satisfaction and increase brand exposure in a big way. Get it right and your
attendees will do your social media marketing for you!

1. Multi-Level

You want to entertain on various levels, big and small. Of course, a big entertainment act
is a great event idea but what will attendees do while they wait? Consider different tiers
of entertainment for continued amusement that hits the right note.

Different tier mentality:

• Consider queuing. If you have elements of your event that may turn into queues and these
are unavoidable, entertain them! Having walking entertainers to interact or big screens
near the waiting area will make time fly by for guests.

• Amuse crowds. Just because you have minimal space to maneuver everyone doesn’t mean

you are limited to stage entertainment. Simply adding props or interactive crowd games
can make it more enjoyable and engaging.

• Think small. Don’t forget to think small and consider the personal touches that make
entertainment memorable. This could be something as simple as ensuring there is table
trivia at a corporate gala for networking, to interactive speakers or roaming
entertainment.

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2. Make It Social

Don’t just entertain your attendees, entertain your audience by making it go viral! This
improves brand reach by getting your event trending and shared globally.

Time to connect

• Get emotive. People will want to post and share your event if it evokes strong emotions;
be it surprise, excitement, awe or amusement! If you use an act, a show or a performer
that is so unique (and can also incorporate the brand!) that people are stirred to feeling
amazed or surprised, then they are going to want to share their experience with others.

• Record it. Don’t rely on attendees to capture the entertainment (particularly if it is a

surprise) so ensure you have someone recording it, you never know when the footage
may come in handy for full previews or exclusives.
• Plan ahead. Don’t be afraid to put some thought into how to make the entertainment viral.

Do some research on what is popular, create a buzz that includes entertainment teasers
on social media and you could even invite press for coverage!

3. Remember Your Audience

Your event style and type will largely dictate what is appropriate or not. Corporate event
profs will first have to take a few factors into consideration when ensuring that the
entertainment ‘fits’ the event:

Know who you’re talking to:

• Analyse your demographic. Determine age, social background and sex, and choose
entertainment accordingly. A tribute to ‘One Direction’ or ‘Justin Bieber’ may be
suitable for a corporate family day event, but not for a black-tie gala dinner.

• Consider venue space. Venue size and location is a factor that many event planners and
organizers forget (or remember at the last minute!). This is important, as it will play a
part in deciding whether or not you can have that aerial team you want or full-scale
swing band!

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• Budget. Do you have a strict budget that you have to work within, or is money not a
problem? The amount of money a company is prepared to spend on entertainment will
affect the options available.
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Activity 4 – Identify business opportunities suitable for you.

Event management is the ideal business start-up opportunity. These events can range from
very simple affairs to complex extravaganzas requiring more logical input. An event
management business requires little effort or cost to launch and has almost unlimited
incomplete potential while remaining fun and relatively low-risk.

In addition to private events, there are also corporate events such as product launches, team
building events, sales meetings or end-of-year events. The list of corporate event planning
opportunities (as well as non-profit fundraisers) available to an event planner is extensive
which means there is a long list of opportunities for someone who recognizes what makes
a business sector well suited for start-up.

1. Almost Unlimited Income Potential

The types of events mentioned above are the tip of the iceberg. The potential client
roster available to you is huge. In terms of potential, you are only limited by your
imagination.

2. Low Business Start-up Cost

Among the many start-up business ideas, the event management model is hard to
beat. You don’t need an office and you can hire contract employees on an as-
needed basis. Also, unlike many other businesses, you don’t need to carry stock of
any kind. If you want your own event management business, you can get the ball
rolling for a very minimal cost.

3. Minimal Risk

Because you don't need to invest in many of the fixed costs (i.e., office space and
equipment) associated with other business start-ups, your downside risk is kept to
the absolute minimum.

4. Positive Cashflow

As a business owner, you have the luxury of deciding what payment terms to
extend to your clients. However, in event management, 50% paid in advance and
the balance paid in full, before the event, is very common. Because you're not
waiting 30-90 days for payment, you're not facing the cash flow issues many new
businesses face. Just as important, because you're paid in part before completion,
you often don't have to chase after money the way some business owners do.
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5. Repeat Business

The holy grail of any business is clients who come back time and time again. It’s
far easier to do repeat business with existing clients than to continually have to
find new ones. Corporations will always give you repeat business if you do well,
and private individuals will likely recommend you friends and family if they're
pleased with your work.

6. Accessibility

Because event management has grown in popularity as a business start-up, the

availability of online event management courses has proliferated. It's easy enough
to do a Google search to find the best one for you.

7. Efficiency

One major benefit of event management is the possibility to automate many of the
required tasks by using the available software. There are many excellent software
packages available in the marketplace today that will help you organize and run
your business efficiently.

8. Build a Substantial Asset

An event management operation, especially one with repeat corporate clients, is

an asset that you can sell or pass on to a family member.

9. Dynamic Industry

People become involved physically and emotionally in their events and actively
seek out good event planners. The end result is a rewarding career where you're
engaged and interacting with people.

10. Fun

Running an event management business can be an upbeat and fun experience

because the events you're orchestrating are happy occasions.
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