Events
Running an event is sometimes a good way to earn some revenue for your social enterprise. Usually local is best, the most expensive the intended project, the greater the potential risk and the greater outlay and costs. Sam Malik and Alison Hornsby have some thoughts about events (see videos). They would warn that sometimes you lose money and make a loss but the marketing and publicity achieved has its own value. If you decide to run an event, you give yourself lots of planning time and identify possible risks and opportunities, maybe even sponsorship, beforehand.
Alison's Six Tips for Seeking to Raise Funds through Events
Alison is the Director and CEO of The Enterprise Centre, a social enterprise and charity based in Bury, Greater Manchester, UK that supports young people who have become marginalised and are out of employment, education and training and may have additional problems that are both psychological and social.
Alison's Six Tips:
- Manage your expectations
- The biggest event lost money but provided profile and market advantage
- Assess value in different ways – there are many other reasons for running an event
- Small is best! Community events more successful and do make a small profit
- KISS +Â PPPPP + DPIE and focus! (Keep It Short and Simple +Prior Planning prevents Poor Performance + Define>Plan>Implement>Evaluate)
- Set yourself a big lead-in time
Sam is the Director and CEO of Square 6 studios, a social enterprise based in Oldham, Greater Manchester, UK that supports young people who have become marginalised and are out of employment, education and training and may have additional problems that are both psychological and social. His studio provides support in the form of access to a wide range of expressive and musical arts. His top tips for successful bid writing have a familiar ‘ring’ to them.
Although an event may be considered as a way to bring in additional income, it is a very risky strategy. As Sam Malik (Square 6 Studios) and Alison Hornsby (The Enterprise Centre) explain, an event may be held for other important reasons: increasing relationships within a community; marketing and promotion; dissemination and network building. An event may provide a range of hidden yet important added values. Sam and Alison’s events are an example of this added value.
Listen to: Sam Malik, Black Music Event as part of Black History Month gain success measured in profile rather than profit.