Many of you put on these events to do altruistic good deeds in your community. Others are trying to create some side income to help offset your kids' college tuition you see in your future. And even a few of you have aspirations of making a full-time gig out of this race directing thing.
Whatever the reason, you have to pay attention to the numbers. What gets measured gets done. You have to have a budget. We have been working behind to the scenes to add even more great functionality with the reporting features within RaceDirector.
On the Income Report, we have added more detail to allow you to get even more granular. Income reporting on the RaceDirector platform utilizes a cash-basis. That means actual income from registrations versus actual expenses to date. You always know exactly where you stand. That can either help you sleep well at night or cause a moment of pure terror!
But have no fear! Here at RaceDirector we have been in your shoes. We also updated the income projections report. With these reports, simply plug in various participant projections by event. By calculating your costs-per-runner, fixed costs, and revenue based on the number of runners you expect, we'll show you an estimate of your race budget and income. You can sharpen your pencil and make sure there are no last minute surprises.
The old carpenter's saying goes: "Measure twice, cut once." If you do your budgeting homework ahead of time you will feel confident that you have built a solid foundation for your event for many years to come.