Running an event that actually makes you money instead of leaving you in the red is all about strategy. Make sure you plan ahead well in advance. A last minute event can work but it is a lot more stress and you run the risk of not having all the moving pieces line up properly, so the longer the planning stage the better the result. Here are a few tips to help you plan out each aspect of your event and boost your profitability.

In small business every sale or new customer is its own little victory. However, just because you are making sales or signing clients doesn’t mean you are making a profit. In fact, it doesn’t even mean you're breaking even!

Trust Your Instincts – Your gut is a battle-hardened warrior. When it whispers, “Hey, something’s fishy here,” listen up! That “icky” feeling? It’s your business’s smoke alarm blaring. Don’t ignore it; grab your fire extinguisher and investigate. Trust that “gut feeling” like you trust your morning coffee (or whatever every you rely on in the morning) - fiercely and without hesitation.

A common approach to establishing a marketing budget is to allocate a percentage of your revenue. While this can vary depending on your industry and business type, a general rule of thumb is to allocate between 2%-5% for B2B companies and 5%-10% for B2C companies.

Many small business women started out with a hobby that they turned (or tried to turn) into a small business. It is important however to be very clear on whether it is a hobby OR a business. It can’t be both.