2.21 Baseline Preparations - Planning Working Capital Requirements

Posted by writer | 2.22 Baseline Preparations - Preparing snazzy proposal for investors »

Before approaching investors or sponsors, its best to have the working capital requirements all figured out. While most of it involves forecasting your cash-flows based on your strategic objectives of the event, you need to be prepared for minimizing the risks of uncertainty as well. Implementing contingency plans helps you deal with that. As for the cash flows, the better you can calculate the smoother your event will be. This is all about planning, planning and planning - so I’m going to share a few cool tools that can help you plan and calculate better.

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1- When you are determining your working capital requirements, its good to put them against your event launch plans. If you are preparing the estimates to raise capital in a team, you can get them to put the event timeline together first using timetoast.com.

2- When calculating the capital requirements, make sure you put in the human factor as well - you may need to appoint the event’s chairperson and manager, and hence estimate their costs accordingly. Having the right set of people on the team effects the success of your event. If you’re hiring contractual workers, you can check out their rates at www.odesk.com.

3- When you have your core team together, often the most important thing is keeping everyone on the same page. Use planzone.com to plan the working capital requirements together. Planzone is an online web 2.0 collaborative planning tool.

4- If you have a bigger team on-board and a larger event to manage, e.g. global conferences. Then you can use clearwiki.com for collaborative planning. Clearwiki is meant for private businesses and offers more stability.

5-If your team can not seem to decide between multiple investment opportunities, or which investors to approach to secure working capital, try using skimbit.com - its an online comparison tool for group decisions and will help you weigh out your options and put things in perspective.


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| Base Line Preparations, Event Launch Guidelines

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