That budget time of year may not set you to dancing in the streets, but you'll celebrate the results if you compose a budget that accurately reflects your cash flow. In fact, your show budget can be your best management tool. Every show manager has established goals, such as projected number of exhibitors, attendees and square footage sold. Budgets help focus on these goals. They can be an effective tool for illustrating a show's viability, measuring results, and setting future goals and objectives.
Budgets also aid in evaluating performance.
Come in under budget, and you're showered with praise. Go over budget and you'll need to provide backup material demonstrating valid explanations for the overruns. With all of this riding on a budget, every show manager is obliged to develop the most thorough and rigorous approach to budgeting. Do the necessary research. By putting effort up front in the budgeting process, you'll be fiscally responsible and have a firm foundation for future budgeting.