Follow Me On Twitter for more great technology stuff!Even though I like to talk about ideas, generating them and turning them into profitable businesses, I tend to be a little tight lipped about my own specific ideas for obvious reasons. However, I have more ideas than I’ll ever have time to execute on so from time to time I come across ideas that I want to just throw out there for all to think about or execute on. I might eventually run with the idea too, then again I might not, but the point is that sometimes ideas are better shared, especially when you know (if you are honest with yourself) that you’ll never actually do it. If that’s the case, share it with someone, or everyone! Wouldn’t it be better to see our idea come to life than to sit on it and have it never go anywhere. Karma doesn’t get much better than giving someone an idea that makes them millions or just helps them to create a business that is fun and successful enough to provide them the freedom we would all love to have.
Recently I read an article about Sheldon Adelson who started the Comdex tradeshow and then sold it to Japan’s Softbank for $862M. For whatever reason, I had never thought about an “event” as a business but apparently it’s big business for the people who put it on, not just those who are there promoting products and services.
So why not turn any event into a business opportunity. Odds are you have been to a big event of some sort, somewhere and thought your hometown could use this, or a better job could be done of the event you went to.
Events might include:
– Film Festivals
– Food and Dining Festivals
– Seasonal Celebrations
– Holiday Events
– Trade Shows (don’t forget to target a niche’)
– Charity Fundraisers
You’ll need a couple of things to make this work, namely you need to be a detail oriented person and you must know how to delegate. Event planning is time consuming and is often more complex than it looks. In fact, a well planned event looks smooth and easy to the attendees even when it is anything but behind the scenes.
Ways to monetize: Sponsors, sell space, charge admission, sell advertising, upsell “special” parts of the event (and probably a host of others I’ve never thought of).
Got ideas for making money on an event? Share them with us in the comments….
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{ 2 comments… read them below or add one }
“sometimes ideas are better shared” thats so true !
I have an idea for planning a sports even such as soccer tournament. There would be a fee for each team. Also the winner of the tournament would get a cup + cash price.
If it is managed professionally id earn good profit.
Anyway its just an idea.
George – Sports is obviously huge, lot’s of opportunity there! Thanks for shaing.