Prepare for Opening Day

This week, one of my new businesses had its first day of real life operations. Our party promotion business opened with a bang on New Year’s Eve as we welcomed nearly 200 revelers to dance and party the night away. We learned a lot getting to that point, and I want to share what we learned.

 

Do Everything Early if Possible

Procrastination is the entrepreneurs worst enemy. Everything that we did early worked perfectly. We planned ahead for our audio and lighting systems, our equipment rentals, and much of our setup were easy and stress free.

Some of our last minute purchases, some of which were last minute because of the nature of the items, were more stressful. Refrigerated drinks, ice, and other perishables were last minute purchases, and we felt the crunch time pressure.

 

Plan for Every Detail

We planned for every detail of our event, from the special lighting in the bathrooms to the curtains and outdoor fire pit for smokers. No detail was missed.

Take the time to ensure your opening day is exactly what you want. Whether it is a website layout, brick and mortar store decoration, or event lighting, take the time to get it right.

 

Plan for Budget Overages

We planned on spending money, but some costs came up that we didn’t think about ahead of time, like ticket barcode scanners and a cash box.

Depending on your business, you may have a smaller or larger budget for overage, but make sure to plan for the unexpected expenses.

 

Have Payment Systems with Good Security

Be ready to take your customer’s money and get it safely to the bank. We used a combination of a secure online ticketing company and Square for door purchases. We kept a bank bag with a trusted staff person for cash payments at the door, which were meticulously counted and immediately deposited at the bank.

Payment security is very important and should not be overlooked.

 

Remember to Enjoy It

While we are not all throwing a party, remember to enjoy your grand opening. We all start businesses to make money, but we also pick our businesses because they are something we enjoy and take pride in.

When your big day comes, remember to revel in the moment and enjoy it. And make a few bucks while you are at it.

About Eric Rosenberg

Eric is a finance blogger at Narrow Bridge Finance and a serial entrepreneur. He runs a media company, flash mob company, and DJ business from his hometown in Denver, Colorado. You can read more about his finance background and connect with him around the web.

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