{"id":14029,"date":"2018-03-20T06:57:18","date_gmt":"2018-03-20T11:57:18","guid":{"rendered":"https:\/\/blog.qceventplanning.com\/?p=14029"},"modified":"2018-03-20T06:57:18","modified_gmt":"2018-03-20T11:57:18","slug":"pros-cons-partnering-event-planning-businesses","status":"publish","type":"post","link":"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses","title":{"rendered":"Pros and Cons: Partnering with Other Event Planning Businesses"},"content":{"rendered":"<p>Have you graduated from your event planning course and want to start your own business? Or maybe you already have a couple years of experience but your business is at a plateau. It\u2019s a tough world out there! But just because it gets a little sticky doesn\u2019t mean that you can\u2019t improve your prospects!<\/p>\n<p>Planners can expand their reach to garner new clients and generate new income streams in many different ways. Rewarding referrals and attending conventions are at the top of the list. Not to mention volunteering your time and skills to get your name out there!<\/p>\n<p>One avenue you may not have considered is forming partnerships. And yes, we mean with another event planning businesses! It seems counter-intuitive to work so closely with your competition, we get it! But you could stand to benefit. Don\u2019t just take our word for it! Here\u2019s a list of the pros and cons of teaming up with other event planning businesses. After this, you\u2019ll be ready to make an informed choice!<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses\/#The_Pros\" >The Pros:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses\/#The_Cons\" >The Cons:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses\/#Your_priorities\" >Your priorities:<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Pros\"><\/span>The Pros:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" class=\"alignnone size-full wp-image-14034\" src=\"https:\/\/blog.qceventplanning.com\/wp-content\/uploads\/2018\/03\/grow-your-event-planning-business-by-partnering-up.jpg\" alt=\"grow your event planning business by partnering up\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/grow-your-event-planning-business-by-partnering-up.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/grow-your-event-planning-business-by-partnering-up-300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/p>\n<ul>\n<li><strong>Hit the ground running:<\/strong> If you\u2019re a new business owner, a partnership with an established company means avoiding some growing pains. The other business may have experience in other areas you simply don\u2019t have\u2026yet! They could offer you valuable advice or make up for any of your potential weaknesses.<\/li>\n<li><strong>Larger markets open up:<\/strong> You may not have the experience or time to organize large-scale, 500 person events. If you\u2019re partnered with another planning business, you don\u2019t have to pass up on any opportunities. Don\u2019t worry about having too much on your plate to oversee every detail through. Instead, you\u2019ll have an extra set of hands!<\/li>\n<li><strong>Increased creativity:<\/strong> More great minds mean more creative event ideas. This, in turn, can lead to great client experiences and potentially more revenue!<\/li>\n<li><strong>Sharing resources:<\/strong> Close partnerships mean sharing information, resources, and industry secrets. Both parties can improve their chances of success!<\/li>\n<li><strong>Networking opportunity:<\/strong> You\u2019ll gain access to your partnering company\u2019s client base, vendors, and suppliers and vice-versa. Cold-calling planners and asking for referrals is a bold move. It\u2019s one that might not even pay off. But when you\u2019ve actually worked with another planner, they\u2019ll see your work ethic and creativity first hand. If they ever need to pass up an opportunity to another planner, you\u2019d be at forefront of their mind. After all, they\u2019ll know that they can trust you to uphold the same standard of service as them!<\/li>\n<li><strong>Mutual support:<\/strong> Having others who understand your situation and stress is downright awesome!<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"The_Cons\"><\/span>The Cons:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" class=\"alignnone size-full wp-image-14036\" src=\"https:\/\/blog.qceventplanning.com\/wp-content\/uploads\/2018\/03\/larger-corporate-events-and-conferences-with-media-presence.jpg\" alt=\"larger corporate events and conferences with media presence\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/larger-corporate-events-and-conferences-with-media-presence.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/larger-corporate-events-and-conferences-with-media-presence-300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/p>\n<ul>\n<li><strong>Competing for interests:<\/strong> Anytime you have more than one person working on a project, disagreements will happen. Planners are their own creative forces with their own interests. If you experience bad communication with a company\u2014you might want to stay away!<\/li>\n<li><strong>Liability:<\/strong> If your contracts aren\u2019t detailed or you don\u2019t have the appropriate insurance, you might be swept up in a crisis.<\/li>\n<li><strong>Lose a client to your partners:<\/strong> There\u2019s a possibility that you\u2019ll lose a client to the other business after you dissolve a partnership. But this isn\u2019t likely if you offer great service and show an appreciation for your partners.<\/li>\n<li><strong>Element of uncertainty:<\/strong> It\u2019s impossible to know if your partner is hiding something until it comes to light. An example would be if they\u2019re less reliable than you expected.<\/li>\n<li><strong>Losing a valuable relationship:<\/strong> If something goes awry, you may have a falling out with your partner. At worst, close relationships might dissolve bitterly. You\u2019ll need to be proactive with your communication. Don\u2019t let a bad situation overshadow your business\u2019 reputation!<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Your_priorities\"><\/span>Your priorities:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>We\u2019ve highlighted the major pros and cons of teaming up with other event planning businesses. Your choice depends on your needs. What\u2019s your top priority? If business growth is number one, you may want to consider collaborating with another business.<\/p>\n<p>This partnership could be with any size of a company. Freelancers are also good options. Choose a business that matches your ambitions, target market, and creative approach. If they are located in the same area as you, even better. They\u2019ll have connections to vendors you may want access to!<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" class=\"alignnone size-full wp-image-14035\" src=\"https:\/\/blog.qceventplanning.com\/wp-content\/uploads\/2018\/03\/beautiful-events-for-larger-markets.jpg\" alt=\"beautiful events for larger markets\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/beautiful-events-for-larger-markets.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/beautiful-events-for-larger-markets-300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/p>\n<p>If you want to increase revenue, a partnership could work for or against you. In a partnership, you\u2019ll share initial costs potentially saving you a lot of money. But that means you\u2019ll also have to split the revenue! You could potentially rise to the top on your own terms without partnering with another business. But you may also miss out on large-scale opportunities due to the size of your own business.<\/p>\n<p>Or, perhaps you started your business to fill a hole in the market. Partnering with other planners can help your utilitarian cause! You\u2019ll have more resources to target issues in the local market.<\/p>\n<p>Remember whatever choice you make doesn\u2019t have to be permanent. That is if you don\u2019t want it to be! You can team up with another business for a single event or time period. You might even like them enough to merge companies! The choice is yours depending on your priorities and ambitions. Just make sure the other planning business knows your intentions!<\/p>\n<p>So, have you made a decision?<\/p>\n<h3 align=\"center\"><i>How else can you ramp up business this year? Check out our post on <a href=\"https:\/\/blog.qceventplanning.com\/2017\/12\/4-goals-set-event-planning-business-year\/\" target=\"_blank\" rel=\"noopener\">4 goals you should set for your event planning business<\/a>!<\/i><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>It seems counter-intuitive to work so closely with your competition, but you could stand to benefit. <\/p>\n","protected":false},"author":9,"featured_media":15914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,11],"tags":[],"ppma_author":[351],"class_list":["post-14029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-career"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pros and Cons: Partnering with Other Event Planning Businesses - Pointers for Planners<\/title>\n<meta name=\"description\" content=\"Have you considered partnering with other event planning businesses to grow your own business? It seems counter-intuitive, but you could stand to benefit!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pros and Cons: Partnering with Other Event Planning Businesses\" \/>\n<meta property=\"og:description\" content=\"Have you considered partnering with other event planning businesses to grow your own business? It seems counter-intuitive, but you could stand to benefit!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses\" \/>\n<meta property=\"og:site_name\" content=\"Pointers for Planners\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/QCEventPlanning\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-20T11:57:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/blog-Feature-photo-100x100-9.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"672\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Celena Feng\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Celena Feng\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses\",\"url\":\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses\",\"name\":\"Pros and Cons: Partnering with Other Event Planning Businesses - Pointers for Planners\",\"isPartOf\":{\"@id\":\"https:\/\/www.qceventplanning.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.qceventplanning.com\/blog\/2018\/03\/pros-cons-partnering-event-planning-businesses#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2018\/03\/blog-Feature-photo-100x100-9.jpg\",\"datePublished\":\"2018-03-20T11:57:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.qceventplanning.com\/blog\/#\/schema\/person\/158edbd40fc32c99a76e01e38fe5ecda\"},\"description\":\"Have you considered partnering with other event planning businesses to grow your own business? 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