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7 reasons for event business owners to implement systems and processes

By Eric Rozenberg | Sep 25, 2024

When I was a business student, I had the opportunity to work one summer for one of the largest FMCG (fast moving consumer goods) companies in the world. They were launching a new soft drink in squash clubs, and I loved every aspect of the experience: learning, driving from one location to another, making daily visits, interacting with sports facility owners, selling, building a client base and even becoming the top salesperson in my region.

However, there was one part I despised: filling out those tedious visit and expense reports!

I couldn’t stand the procedures—until I started my own business and quickly realized the true value of systems and processes.

Today, I can’t live without them, and I would suggest that, if you are serious about growing your event business and getting more time to work on it, we are in the same boat!

If you are still on the fence, here are seven compelling reasons to implement an operating system in your business that can transform the way you work and set the stage for growth.

1) Focus on what you love

This is perhaps the most important reason of all. Many people chase the elusive concept of “work-life balance.” Personally, I’ve never believed in balance, but rather in work-life integration. What matters most is spending most of your time doing what you love—and what you’re great at. This significantly reduces stress and creates a framework for effective delegation, freeing up your time for what matters most.

2) Consistency and efficiency

Imagine that every project you undertake follows the same workflow, with you and your team using the same templates. Every cash-flow plan is structured the same way. This ensures consistency, saves time and guarantees repeatable results. Your finances become more accurate, and your operations run more efficiently. Achieving this level of consistency is entirely possible once you start documenting everything.

“What matters most is spending most of your time doing what you love—and what you’re great at.”

3) Fuel business growth

If you keep jumping from one project to the next without a team or systems in place, burnout is inevitable. Systems and processes are essential for scaling your business. They not only help onboard new hires but also establish a framework for how your business should be run. Whether you’re operating a $500K business or aiming to reach $4 million, systems provide the foundation for growth. Your role will evolve at each stage of growth, but systems remain essential for ensuring smooth transitions.

4) Better time management

Time is the scarcest resource for any event business owner. Fortunately, there are countless tech tools available today that can automate repetitive tasks. From responding to RFPs to sending proposals and executing projects, using templates and automation can save you countless hours each week. Evaluate everything you’re currently doing, identify tasks that can be delegated, and develop standard operating procedures (SOPs) to ensure consistency and efficiency in the handoff.

5) Accountability and transparency

Have you ever watched a Formula One pit stop? It’s an impressive example of teamwork, where each person knows exactly what they need to do and executes with lightning speed. This is the power of systems and procedures in action. They clearly define roles and responsibilities, allow for performance tracking and align everyone on the team. This level of accountability and transparency improves overall team performance.

“Time is the scarcest resource for any event business owner.”

6) Deliver a consistent customer experience

Think about one of your favorite brands or restaurants. Why do you keep returning? Chances are, it’s because of the consistent experience they provide. Now, think about your own customer journey. Every interaction your clients have with you and your team is an opportunity to reinforce why they choose to work with you.

Are their questions answered promptly? Do they feel supported throughout the project? Are you anticipating their needs and helping them look great in front of their peers or clients? By establishing systems and processes, you can ensure a consistent customer experience, which leads to higher client satisfaction and repeat business.

7) Increase your company’s value

If you own your business, you may have thought about selling it one day. What do potential buyers look for? Revenue? Certainly. Profit? Of course. Repeat clients? Absolutely. But one of the most critical factors buyers assess is the degree to which the business can operate without you.

Do you have strong systems, procedures and a capable team in place? How would daily operations continue if you were no longer involved? The less the business relies on you personally, the more valuable it becomes.

By considering these seven points and starting to implement systems and processes in your business, you set the stage for sustainable growth, greater efficiency and a business that runs smoothly—even without you.

 

Author

Eric Rozenberg

Eric Rozenberg, CMM, CMP, HOEM, FONSAT, is an entrepreneur, author and host of The Business of Meetings podcast. His purpose is to inspire people with integrity, help them take action, achieve results and grow their businesses and lives. He is the founder of Event Business Formula and a former Chair of the MPI International Board of Directors. Connect with him on LinkedIn.