New year, new Event Brew episodes! We’re kicking off the year in Thuy and Will’s company – Dustin and Nick had to take a raincheck. Excited for the year ahead, they talk about business strategy for events and planning in these uncertain times.
They talk about what event strategy means to them, who is involved in the decision-making process, and share how they go about creating a business strategy at their own respective workplaces. So, brew something up, sit back, and join Thuy and Will in a brand new season of Event Brew!
Let’s Talk Business Strategy!
Will and Thuy get right down to business – literally. “When it comes to business strategy, what’s the first tip that you have for people who want to be more strategic with events? Those who don’t want to just plan and design them.”
“What I think is extremely important is asking the right questions,” says Thuy. “Instead of going from quarter to quarter, we’re taking a step back. Say you’re planning four virtual events, always the same audience. Let’s ask what is the purpose of the events we are planning? How do you want your audience to feel? Let’s get that bigger picture down. We’re working smarter in that sense. Also, you need to be able to communicate with everyone that’s involved in that strategy.”
“Building a strategy for internal events is the easiest,” adds Will. “You probably have a parent organization that has objectives and you have to just look at those. So for example, in the quarterly meeting, you might think that the point is to just align everybody and bring the vision together, but let’s start thinking deeper. If you buy a company or you’re trying to double revenue, how can you use your event to do that?”
“There are so many times when we’re having conversations with vendors and they’re not strategic enough. No one cares to do basic Google research and have a great conversation about it. I get it. Sometimes, it’s really hard for a sales rep to research every single person, but let’s really elevate that conversation so we can get to that next level as well,” he concludes.
Business Strategy In Times Of Uncertainty
Moving on, Will has a question for Thuy about strategizing.”Here’s a controversial question for you, Thuy. We’re in 2022, things are a bit crazy. A lot of people are probably wondering how to build an event strategy when we can’t be certain what the year will bring. What do you have to say to those people?”
“Do your own research. I’m sure you have tons of resources, tools, and fellow colleagues,” says Thuy. “And this is why it’s really important to be involved in our industry – you can reach out to your network. And secondly, a lot of us think that the timing has to be perfect. Even if you’re unsure, just take action on it. Get that feedback, either from your internal team, your colleagues from the industry, even your supplier partners. I tell my supplier partners all the time: you’re the expert in your field. I trust you.”
Then, Thuy wants to know what Will has to say about times of uncertainty. “What about you, Will? What do you have to say to those who don’t know how to get started?”
“Uncertainty doesn’t mean that you can’t make a decision and move forward with something. But the worst thing you can do is stick your head in the sand and wait without making any decisions,” says Will. “Strategy is about being unique and coming up with creative ideas, trying to figure out what’s the big, bold thing we’re going to do to take this to the next level. However, strategy is also deciding what you’re going to do and focusing on it.”
May Teambuilding Inspire You
Thuy says that teambuilding activities work similarly. “The ones that actually win escape rooms are not the ones that just jet off. It’s the groups that look at all the options and plan. We have to all agree on something and then go forth with it. If there are setbacks, you adjust. And then, the glorious thing about it all is keeping it consistent. That’s just how habits work, even when you’re planning your personal 2022 objectives, new year’s resolutions.”
Sharing Is Caring
“Don’t hesitate to share the strategy,” says Will. “I struggle with this with my leadership team sometimes. Sometimes, I want to share the strategy with the larger company. As much as we try to come together with a full plan, you sometimes need to get exposure to other people because they’re gonna pick at it and give you different ideas. And sometimes, you’re not aware of what those are until you just talk through them.”
“Communicate the strategy as a goal of what you’re trying to accomplish,” Thuy agrees. “Put it everywhere you can. The more you can create a theme, the more that you communicate, and the more that you say it over and over, the better.”
Business Strategy For Events: What’s Your Plan?
Hopefully, Thuy and Will managed to inspire you to get organized and start planning for the year ahead. But before they sign off, they pose a few questions to the audience.
“What are you doing to enhance your strategies for the next year? How do you plan at the beginning of the year? Do you have a holistic approach across the entire year?”
Reach out to us and let us know!