We’ve all been there.
You have a special event you’ve done a few times (sometimes LOTS of times), but it’s losing its luster. And you realize it’s time to make the hard decision to stop doing it.
It can unpleasant, but the time comes when you must decide to stop hosting a particular event.
Here are some signs that the time has come to retire a special event:
- Revenue from the event is slipping.
- Fewer people are attending.
- Media sponsors aren’t interested anymore.
- Corporate sponsors aren’t interested either.
- If you included labor cost in your financial summary, you would definitely be losing money on the event.
- Everyone is exhausted at the prospect of planning the event.
Unless the event is accomplishing something specific that you aren’t getting through any other channel (awareness or friend-raising), it’s time to shut it down.
I remember working at the local food bank and the time came to stop doing a 5K race that we had done for several years. We just weren’t raising enough money to justify doing it, and we had several other events during the year that were satisfying our need for publicity. It was a tough decision, but we made it, and stopped holding that event. It was very freeing actually. And we had time and energy to put into other things.
Think about what else you could be doing with your time and energy that might generate more money, awareness, relationships, and goodwill for your organization. You may be missing a big opportunity simply because you’re stuck in a rut with a particular fundraising event.