The Unstoppable Eventrepreneur™
Business:Entrepreneurship
It's a curious paradox that many entrepreneurs in the event industry venture into the business world seeking financial and time freedom, only to find themselves shackled by the structure of their own creations.
May zeroes in on the traps of day-to-day business operations that ensnare event planners, decorators, and designers, preventing the scalability and freedom they initially sought. She draws a vivid contrast between the conventional model of stocking up on inventory and micromanaging every event, and her own practice of concentrating on event design while delegating the execution to trusted vendors. This strategic delegation, May illustrates, is key to breaking free from operational burdens and steering towards a business model that truly offers freedom.
For event entrepreneurs struggling with the inventory dilemma, May lays out actionable strategies: training a capable team or hiring contractors to handle event setups, exploring additional revenue streams such as event rentals, and adopting a pricing model that compensates for personal involvement. These steps are not just about reducing workload; they're about enhancing the business's value proposition and ensuring profitability.
May encourages listeners to realign their business structures with their original goals of financial independence and time flexibility. She advocates for a mindful balance between satisfying client needs and building a robust sales pipeline that secures the business's future.
Quotes
• “I structure my business in a way that I respect and I understand why I want to have a business, which is I want to have the freedom of time and also financial freedom. So I need to be able to scale the business and I need to be able to have the time to do whatever I want and to work wherever I want. So these three goals. So location, I want to be able to work wherever I want. And I want to be able to scale the business so I can make money when I'm not even at the venue, okay?” (12:33 | May Silvers)
• "If your business requires you to do all the client-facing work every single day, you can never scale. Never, never, never scale." (18:16 | May Silvers)
• "When you take on something, you're giving up something else. So you've got to make sure that you understand what you're giving up. So it all comes down to how are you structuring your business." (24:25 | May Silvers)
Links
EVENTrepreneurs! You are the best in your craft. but are you good in sales too? If your business does not have consistent income, you have a hobby, not a business.
Join us on Mar 5-7 2024 for our SLAYING SALES workshop to learn the sales process and strategy to sell and close leads! Click on this link to register: https://learnwith.mayyeosilvers.com/ll23mar2024podcast
Connect with May at: may@events4anyone.com
Website: www.mayyeosilvers.com
LinkedIn: https://www.linkedin.com/in/mayyeosilvers/
Facebook: www.facebook.com/mayyeosilvers
IG: www.instagram.com/mayyeosilvers
TikTok: https://www.tiktok.com/@mayyeosilversofficial
FB private group: https://www.facebook.com/groups/events4anyone
Podcast production and show notes provided by HiveCast.fm
Event Planners vs Event Designers vs Event Decorators - Episode 136
How To Handle Bad Reviews - Episode 135
Do These 2 Things to Get Consistent Sales - Episode 134
5 Reasons Why Most People Won’t Achieve Their Dreams - Episode 133
Day 1 vs Day 100 - Episode 132
THIS Is How You Will Win EVERY TIME - Episode 131
Do Your Ideal Clients Even Know That You Are Speaking To Them? - Episode 130
Things to Consider When Trying out New Strategies - Episode 129
When and Where To Hire & How to Keep Good Help - Episode 128
Handling Sales Objections Is About Prevention, Not Reaction - Episode 127
Should You Invest In A Course Or A Mentorship Program? - Episode 125
Business Financial Numbers to Know at the Beginning and Ending of the Year - Episode 124
Is Staying Status Quo a Good Place to Be? - Episode 123
3 Ways to Overcome Price Objections - Episode 122
Don't Adjust Your Goals to Match Your Actions - Episode 121
Believing in AND Embodying Your 2024 Goals - Episode 120
Don’t Lose Sight of Your REAL Goal When Chasing Your 2024 Goals - Episode 119
If It Is Not on the Calendar, It Ain’t Happening! - Episode 118
Fitting Your Business into Your Life, Not the Other Way Around - Episode 117
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Organic Marketing Simplified: Master podcast marketing, fuel podcast growth, and make money podcasting!
THE GO BIZ GUY
The Sigma Femme Podcast
The Prof G Pod with Scott Galloway
Habits and Hustle