The Business of Meetings – Episode 198 – 7 Key Domains to Grow and Run Your Event Business with Eric Rozenberg
Today, Eric explains how he builds businesses and helps other business owners build theirs.
Drawing from his extensive experience, he reviews the seven key areas crucial for growing and operating an event business. He also suggests one book for each domain that will be helpful in that particular area.
1: Defining Your Path Forward
Eric highlights the importance of having a clearly defined vision and strategy for the future of your event business. The idea is to align all your actions with your vision and strategy to ensure that all your decisions fit your overall plan.
Eric recommends using the Business Model Canvas from Business Model Generation by Alex Osterwalder as a practical tool to structure your thoughts and identify gaps in your strategy.
2: Building a Strong Foundation
Eric explains that achieving success requires a team effort. He stresses the importance of building a dream team and fostering a positive company culture. He suggests delegating tasks and using tools like Predictive Index for team profiling.
Eric recommends reading Who Not How by Dan Sullivan and Dr. Benjamin Hardy for insights on building and managing effective teams.
3: Accelerating Sales and Driving Revenue Growth
The three areas of the sales acceleration process are pitch, process, and pipeline. Eric recommends having two types of pitches, one for your potential customers and another for those who could refer you to other potential customers. The process involves creating a playbook to address objections and remaining consistent in communication. For your pipeline, you can use CRM tools and software to track your interactions with prospects, understand their preferences, and foster ongoing relationships.
Eric recommends reading To Sell Is Human by Daniel Pink to understand the art of sales and accelerate your sales process.
4: Marketing and Differentiating Your Business
Your marketing strategy will determine how you differentiate and position your business. Networking, connecting, and keeping in touch with people are all essential aspects of marketing.
Eric recommends reading Purple Cow by Seth Godin to understand effective marketing strategies.
5: Grasping the Financial Essentials
It is essential to understand and manage the financial aspect of your business. Eric suggests either developing a dashboard with key performance indicators or hiring someone else to do that for you.
Eric recommends reading Simple Numbers 2.0 by Greg Crabtree to learn how to decipher your financial metrics.
6: Having an Execution Plan
Having a well-defined execution plan is essential for translating your strategies into actions. Eric explains that your execution plan will also become a management tool for growth because it will ensure that everyone understands their responsibilities and is accountable for their tasks.
Eric recommends The E-Myth by Michael Gerber to understand the importance of processes in business planning.
Your accountability is crucial for achieving your business goals. Eric stresses the importance of relying on others, committing to them, and seeking their support to maintain accountability. He explains that your daily actions and priorities will collectively impact the success of your business.
Eric recommends Atomic Habits by James Clear as a guide to developing appropriate habits and fostering accountability.
Bio Eric Rozenberg
Eric Rozenberg is an acquisition entrepreneur, trusted advisor, speaker, podcaster, and two-time Amazon bestselling author.
Eric has helped thousands of entrepreneurs grow and manage their business better. His purpose is to inspire people with integrity and honesty, help them take action, get results, and develop their businesses and their lives.
For two decades in a previous life, Eric has consulted with Fortune 500 companies and produced award-winning sales meetings, incentive trips, product launches, and conferences in more than 50 countries across diverse industries. He believes organizations must create meetings and events that are not only breathtakingly memorable but also bring corporate strategies to life and amplify team motivation/performance.
His podcast, “The Business of Meetings”, is the first podcast in the Meetings and Events Industry dedicated to business owners. Every Tuesday, listeners learn something new they can apply in their business and/or get inspired by amazing guests.
His first book, Meeting at C-Level, is the first book on the Why of a meeting. It has been endorsed by 20 of the most influential leaders from the corporate and association worlds and helps professionals to position themselves as a strategic partner.
His second book, Before It’s Too Late, A Love Letter to My Daughters and America, is a story of grit, perseverance, and courage. It describes why and how he and his wife brought their daughters to America and why it is the greatest country on Earth.
Eric is a current member of the Entrepreneurs Organization (EO) and The Strategic Forum. He also serves on the Board of Trustees of the Demoucelle Parkinson Foundation in Belgium and was the first European to serve as Chairman of the International Board of Meetings Professional International (MPI), the largest professional association in the Meetings and Events Industry.
He lives in Boca Raton with his wife Elsa, their three daughters Naomi, Shirel, and Tilia, and their dog Simba.
Connect with him at www.linkedin.com/in/ericrozenberg.
Connect with Eric Rozenberg