Figure 1. No title. 2025. Stock Images Microsoft
“Vision is the art of seeing what is invisible to others” ~Jonathan Swift
I found it challenging to absorb the introduction to financial and business processes this week as I lack experience in finance and budgeting. However, I enjoyed the fact that it would help with my CPD and steers me towards creating my own startup company which I hope to have up and running in 2 years for Wedding events. Learning about The Business Model Canvas, from the Strategyzer template (2025) has helped me understand the important segments that put structure into my business plan:
Figure 2. Catabas - Strategyer Business Model Canvas Template. 2025
Using the above template, I can fine-tune things like my Value Proposition to identify my key partnerships. All of this will help me make couples’ dreams come true as I strive to create the perfect wedding for people. I cannot do this without thinking like an entrepreneur. Speaking of which, listening to Alyson Glover speak to Clare Hearn about entrepreneurs, who, with even average ideas can make their startup succeed because they have the passion to do it (Glover, 2021). I agree with this viewpoint; it’s going to take a lot of passion and effort on my part to develop and learn finance and budgeting. Again, I have to learn on-the-go.
One of the things I pondered this week was how my future event management business will approach its target audience to make myself stand out to potential clients. Studying Simon Sinek’s Golden Circle Theory (2010) helps me with this understanding. He states there are three core values and principles to examine: why, how, and what. In order for me to have a truly innovative business, I would have to start with the WHY and then communicate this to a discerning pool of potential clients. My cause and beliefs, in other words, my “why” is what they will buy into and it becomes part of my value proposition.
Claire Bassett’s video from this week’s module states how to start a budget plan for an event (2025). For instance, to manage the cost-benefit analysis of one wedding event, I would need to write a list of my income and expenditures. My income streams would come from percentage-based pricing, flat fee or tier pricing, or hourly consultation rates.
On the flip side of income, my expenditures would come from venue costs, catering, photography, flowers, etc. Creating a budget list will help me calculate profitability (hopefully), or break even, or loss so to practice this exercise, I called up a friend and did a mock-up event for her ideal wedding. I found it fairly easy to get the number of attendees of her wedding but found myself using really low pricing. This is because inexperienced organizers typically underestimate the various costs (Shone & Parry 2019). I realized I fell into this trap because I did not cost out each guest for every activity. Phoning up various vendors then improved our cost assumptions.
List of figures
Figure 1. No title. 2025. Stock Images Microsoft
Figure 2. Catabas - Strategyer Business Model Canvas Template. 2025
REFERENCES
BASSETT, Eason Claire. 2025. “Creating a project budget” [online video demonstration]. CEM711 for MA Creative Event Management: Content originator and owner. Falmouth University.
GLOVER, Allyson. 2021. Interviewed by Clare Hearn. ‘In Conversation Allyson Glover – Unlocking Potential’ [Online interview]. Available at: https://flex.falmouth.ac.uk/courses/976/pages/week-5-in-conversation-with-unlocking-potential?module_item_id=55970 [accessed 28 february 2025]
SINEK, Simon. 2009. How Great Leaders Inspire Action. Accessible at: https://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action [accessed on 05 March 2025]
SHONE, Anton, & Parry, Bryn. 2019. “Successful Event Management: A Practical Handbook. Annabel Ainscow
Strategyzer Business Model Canvas. 2025. Accessible at: Business Model Canvas – Download the Official TemplateStrategyzerhttps://www.strategyzer.com › library › the-business-m… [accessed on 05 March 2025]