#3: Consider your costs and critical operations

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Hard costs include venue rental, speaker fees, accommodation, meals, advertising and other related expenses. He compares these marketing expenses to expected new business. While it's impossible to quantify an exact ROI, Flyte employees weigh qualitative factors like community goodwill and increased market awareness when deciding whether to move forward with another party.

“If we make ends meet just on conferences and then we get some work out of it, it’s just marketing, and marketing costs money — it’s an investment in our future,” Ritchie said.

Maximize attendee experience
In the early days of AOC, the Flyte team experienced typical first-time missteps, such as mistakenly printing the launch year "2012" on posters and other non-reusable signage. They also had some minor issues, such as not having enough vegetarian options and getting scolded for serving soda. Over time, Rich learned various lessons that now seem obvious, such as always ordering boxed lunches to effectively feed 400 attendees instead of serving a buffet.