When Should You Add On a New Service Offering - Episode 183

Adding a new service might sound exciting, but is it actually a smart move for your business?

 

In this episode, May Yeo Silvers unpacks what it really means to expand your offer suite, and how to do it without losing money, energy, or clarity. She challenges the idea of pivoting just because you’re bored or burned out and shares the questions every business owner should ask before making a shift. Is this new service aligned with the clients you already serve? Does it build on what you’re already great at? Will it actually pay off?

 

May draws from real conversations with event pros who are tempted to branch out too far from what’s already working. She explains why misalignment can confuse your audience and dilute your brand, and how to grow with intention instead. May also shares how she added a new service in her own business, only after making sure it leveraged her strengths and delivered meaningful results.

 

If you’ve ever felt the urge to shake things up in your business, this episode will help you pause, reassess, and move forward with a lot more clarity.

 

Quotes

• “I’m not saying not to add on new services, but you have to understand why you’re adding on the new services. And does the money make sense? Does the financial decision make sense to add on this new service?” (11:19 | May Yeo Silvers) 

• “You should only add on your offer when you have a very clear idea that you no longer want to do whatever you’re doing. Clean slate, rebrand, and start talking to a new audience.” (15:04 | May Yeo Silvers)

• “Is it going to leverage my existing skills or do I have to learn a completely new skill set, talk to a completely new market? How long is it going to take me to learn and execute and make back the same amount of money that I used to make? You have to ask yourself that.” (15:27 | May Yeo Silvers)

• “You cannot take on a new service because you dislike something. You can, but your timing has to be right. You have to do both at the same time so that you don't sacrifice whatever you're already making even though you hate it.” (15:45 | May Yeo Silvers) 

• “At the end of the day, if you add on a new service, it has to have sustainability and it needs to continue to bring you joy.” (17:40 | May Yeo Silvers) 

 

Links

If you have no idea where to begin when thinking about starting an event planning business, check out my book, The Unstoppable Eventrepreneur. Inside the book, I addressed topics like when to quit your job to become a full time CEO, how to prepare yourself financially, mentally and emotionally, marketing and sales strategies, and rookie mistakes to avoid when starting and growing your business. Click the link  https://www.amazon.com/Unstoppable-EVENTrepreneur-TM-Profitable-Business/dp/1961347105/ to grab your copy on Amazon today!

 

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

 

 

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