14.7K
Downloads
170
Episodes
EVENTrepreneur: A person who turns their passion for events into a profitable business. The Unstoppable Eventrepreneur™ Podcast brings you the strategies and tactics you need to build and scale your event planning business. Learn about the thinking and habits you must develop in order to turn your passion for event planning into a full-time job! Learn from a multiple 6-figure event planning veteran, May Yeo Silvers. Her specialty? Her “no sugar coating, giving it to you the way it is” form of communication that breaks down ideas and strategies into actionable step-by-step processes. Tune in, be inspired and get ready to start discovering the untapped potential within you to truly become an Unstoppable Eventrepreneur! For more business tips, strategies and mindset reset, follow along with May: • Connect with me at: may@events4anyone.com • Website: www.mayyeosilvers.com • LinkedIn: 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
Episodes
Thursday Nov 18, 2021
Thursday Nov 18, 2021
When it comes to starting an event planning business, every eventrepreneur is dying to know the secret to pricing. According to host May Yeo Silvers, the biggest mistake new event planners make is thinking they need to lower their prices to get business. In today’s episode, May breaks down how to calculate a price that makes both you and your clients happy.
The first thing any business owner needs to understand is their monthly cost of operation. While variable costs may fluctuate, May explains that fixed costs are constant regardless of whether or not you have active business. Once you have established how much money you need to run events and stay in business, you can calculate your hourly rate. While you may initially feel guilty asking for more money, honor yourself and never let your hourly rate depreciate. After all, we are here to make a profit.
Tune into this week’s episode of The Unstoppable Eventrepreneur™ for a brief overview of pricing. Learn why you shouldn’t base your fees off of your competitors’ rates, the differences between fixed and variable costs, and how to properly calculate an hourly rate that upholds the value of your business.
Quotes
• “Your operation costs are divided into two categories. One is your fixed cost and the other is your variable cost.” (07:11-07:18)
• “I am an affiliate of HoneyBook because I am an educator and business coach. I get a 50% discount for anyone who uses my link. So, if you haven’t created an account with HoneyBook, you can use my link for 50% off the first year.” (09:43-10:05)
• “Your hourly-rate will change as your business changes.” (12:02-12:05)
• “On average, you should spend 70-80% on sales-generating activities. That could include visiting old clients or talking to potential clients. The rest of the time should be spent on client fulfillment, which is the actual planning itself.” (19:00-19:20)
• “We aren’t in the business to break even; we are in the business to make money.” (20:39-20:41)
• “We never want to depreciate our hourly rate.” (23:49-23:52)
• “I will probably organize a master class just to go over pricing, so you can walk away with a template that goes through the whole calculation again.” (25:06-25:22)
Links
Check out my honeybook affiliate link: http://share.honeybook.com/events4anyone for 50% off the first year.
Connect with me at: may@events4anyone.com
Website: events4anyone.com
LinkedIn: www.linkedin.com/in/mayyeosilvers
Facebook: www.facebook.com/mayyeosilvers
IG: www.instagram.com/mayyeosilvers
TikTok: https://www.tiktok.com/@mayyeosilvers
FB private group: https://www.facebook.com/groups/events4anyone
Comments (0)
To leave or reply to comments, please download free Podbean or
No Comments
To leave or reply to comments,
please download free Podbean App.