12 Feb 10 Expanding Your Meeting Planning Business

If you are a self-employed meeting planner, you may be dreaming of the day when you will have so many clients that you will have to expand, or you might be dreading it. Either way, there will likely come a time when you no longer want to work seven days a week, 16 hours a day, or when you simply cannot finish all of your work, regardless of the hours that you put in. Of course, you may also start thinking about expanding before this, but it can be difficult to determine the right time for adding an employee to your meeting planning business.

Part of the problem is that you first need to have enough clients and enough money coming in to justify – and to cover – the additional expenses associated with having an employee. However, in true catch-22 fashion, in order to take on more clients or plan more events for your existing clients, you need more help.

Here are three steps you can take towards comfortably taking on a full-time employee:

1. Start by outsourcing – Yes, outsourcing is going to cost you a bit more than if you simply did everything yourself, but it will also allow you to free up some of your time, which can then be dedicated to increasing your client base.
2. Hire a part-time employee – Once your outsourcing has allowed you to begin to bring in more money and take on a few new clients, it may be time to hire a part-time employee.
3. Move her up to full-time, or hire a second part-timer – Once step 2 begins to pay off, it is time to re-evaluate and consider making your current part-time employee a full-time staff member, or taking on more part-time help.

Tags: Catch 22, Current, Dreaming Of The Day, Employee Outsourcing, Enough Money, Fashion, Full Time, Meeting Planner, Meeting Planning, Part Time, Part Timer, Right Time, Self Employed, Seven Days, Staff Member, Step 2, Three Steps, Time Employee, Time Staff