One of the most common complaints I hear from new event planners is around client relations. Being new to the industry they try to work with any client who will hire them. This is great for bringing revenue into your business but often lead to stories that nightmares are made of. This is why I wanted to share the importance of having a Red Velvet Rope Policy for your event planning business.
A Red Velvet Rope Policy according to Michael Port, is a policy in your business that outlines your criteria for working with a client.
Clients should feel lucky to work with you and you should feel excited to work with them. For this to happen, you have to outline who you would like to work with and why. Think about the Red Velvet Rope Policy as the entry to an exclusive event. To enter this event you need to have met a few select criteria, for example:
- You would need to have been invited
- You need to be able to purchase a table for $10,000
- You need a VIP ticket
Your Red Velvet Rope Policy for working with clients should be the same. This allows you to eliminate clients who do not meet your policy and who will crush your enthusiasm. Instead, your select clients will look forward to working with you and will feel special to have your skills and expertise available to them.
When you are a new event planner this might seem counterintuitive. How can you turn away clients when you don’t have that much – or any – to begin with?
The answer to this is simple. Working with the wrong clients will consume your time and drain your energy. They will take up time that could have been offered to your ideal clients. This means you will also have less time to seek out the clients who are right for your business.
Your time is valuable. The key idea behind the Red Velvet Rope Policy is to not waste your valuable time with those who are not your ideal clients. It might not seem like it now, but your business will thank you for it.
