How to TEDx: How to Plan Your Budget

"How to TEDx" is a new video series produced entirely by the TEDx comunity. Each video covers an aspect of the organizing process of a TEDx event. This video (part of How to TEDx videos) explains how to plan your budget.

How to plan your budget?

Budgeting is one of the most important
tasks of a TEDx event.

Sure, you don't want to lose money.

Generally, you will need to pay
for some of your staff,

your location, technical equipment,
catering, and communications.

You can earn revenue
with ticket sales and sponsorships.

So, take your time to plan,

update your budget frequently,
and ask fellow TEDx organizers to help you.

Let's have a look at the costs first.

Good staff is key.

The more positions you and your team
can cover, the better.

For other tasks, try to involve volunteers,
and convince partners to work for free.

Also, speakers are not being paid.
This is a TEDx rule.

But, you will have to pay for travel costs,
accomodation, and food expenses.

For the actual event,
you need to lent a good location.

If it is your first TEDx event,
start with a small to mid-size location.

Better to have a full audiotrium
than empty seats.

Always include equipment rental, staff
and transport costs to your calculation.

Keep in mind. Off locations involve
higher expenses for transport.

Do you need
any insurances and permits?

Also, think of
cleaning costs after the event.

Always write a technical concept
for your event.

You will need
a live presentation system,

projectors, screens, microphones,
sound, light and laptops.

For documentation purposes,
you should have video cameras set up,

also ask a photographer
to take pictures.

Be aware: post production costs
are often underestimated.

If you want a live stream, make sure you have
a fast and reliable Internet connection.

Check which hardware is already
avilable and included at your location.

Do you have to rent
additional equipment?

In the breaks of your TEDx event,
it's good to provide food and beverages.

To calculate catering cost,

multiply the number of expected guests
with the cost per person.

Decide on the amount
and quality of catering,

depending on time of day
and duration of your event.

To reduce costs, a proper buffet
can be replaced by light snacks, or finger food.

Sponsors can help you
lower catering cost.

To attract guests, you will have to design
and produce a communications package.

An invitation, printed or per email,

advertising material, a web site,
badges, and a program booklet.

Also, a TEDx branding
for stage and screens.

It is always good to work
with a professional designer.

The results will look much better.

Calculate production, postal,
and potential ad placement costs.

Your main source of revenue
are ticket sales.

Multiply the potential number of attendees,
not seats, with the envisioned ticket price.

Ticket prices should be reasonably low
to attract a broad audience.

Keep in mind that you calculate
a contingent of free tickets

for speakers, team, press,
and sponsors.

In the end, costs and revenues
should, of course, be balanced.

If not so yet, sponsors may
give you additional financial support.

Prior to finalizing your budget,

it is always good to talk to fellow organizers
to exchange ideas and experiences.

Good luck with calculating
your TEDx event.

[Produced by TEDxBerlin]

[Producer/speaker: Stephan Balzer]

[Illustration: Marvin Clifford]

[Creative direction: Marko Thorhauer]

[Sound: Lars Damm]