The Unstoppable Eventrepreneur™

5 Reasons Why Most People Won’t Achieve Their Dreams - Episode 133

Are you truly ready to pursue your dreams, or are you allowing barriers to hold you back? Drawing from her extensive experiences as an expert event planner and business coach and mentor, host May Silvers explores the five reasons why many individuals get stuck and fail to achieve their potential.

1. They don't know what to do: Individuals may not know the steps necessary to achieve their dreams, whether it involves financial success, personal health, or starting a business. This gap is the easiest to bridge with the abundance of resources available today.
2. They don't know how to do it: Even when aware of the necessary steps, some fail to execute them effectively. Overcoming this requires dedication to learning and applying new information.
3. They think more than they do: A tendency to overthink and plan excessively without taking tangible steps towards goal achievement. This involves getting stuck in contemplation rather than action.
4. They talk more than they do: May labels these individuals as “NATO” (No Action, Talk Only). Individuals talk about their aspirations more than they take concrete steps towards realizing them. This behavior results in little to no progress.
5. They think and they talk themselves out of the doing: Fear leads many to talk themselves out of action, making excuses to justify their inaction. This final barrier is often the hardest to overcome, as it requires confronting and overcoming personal fears.

May urges listeners to reflect on which reasons align with their own experiences, and to remember - resilience and a positive mindset are cultivated through action rather than before it.  She encourages listeners to take the leap and seek hands-on help if you find that you aren’t moving forward or you feel stuck.

 

May shares the beta round for her business kickstart bundle, which offers ten courses for $10, with topics ranging from pricing strategies to mindset development. It’s an ideal toolkit for anyone aiming to enhance their entrepreneurial skills, effectively manage time, and navigate the complexities of starting and growing a business in today's digital landscape. Click here to get the course!

 

Quotes

• "If you put in the effort to find out what needs to be done, you need to continue to put in the effort to learn how to do it. You need to put in the time and the energy to learn how to do the things that need to be done." (05:42 | May Silvers)

• "How would your dream come true if you do nothing to go pursue that dream?" (07:27 | May Silvers)

• "Your mindset will only be built if you implement." (15:13 | May Silvers)

• "Your current situation is not permanent. You have a choice. It may be more difficult for you to make that choice compared to other people who already have the advantage to get out of a bad situation compared to you, but you are never truly, truly stuck. Only you can decide whether you want to be stuck or not." (17:29 | May Silvers) 

• "When you finally accept that you do know what to do and how to do it, but you are not moving forward, or you can't figure out why you are not consistently doing what you're supposed to do, that's when you have to get alternative help, which is more hands-on help." (20:41 | May Silvers)

 

Links

If you are an event planner, designer or decorator who doesn't know what to do, how to do or need support to launch and scale your events business, check out our newest digital course, the Business Kickstart Bundle. It is a 10 course module that focuses on pricing, marketing, sales, business legalities, productivity hack and mindset.

 

Grab the BETA user price now at $10 for 10 courses plus $7 live support option. Better hurry as we have VERY limited Beta user spots left after we launched it 2 weeks ago. Click this link to get the course at ONLY $10!

 

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

Day 1 vs Day 100 - Episode 132

While early failures are inevitable, they serve as invaluable learning opportunities that pave the way for growth. In this episode, May Silvers shares insights from her personal experience learning to ski, drawing parallels to the journey of building a successful business.

 

May uses her first-time skiing experience to illustrate the importance of perseverance and learning from failures in business. She recounts how she fell numerous times during her first group ski lesson but remained determined to get back up each time, emphasizing that early failures are less costly and easier to recover from. She stresses that dedication and commitment are more crucial than motivation when facing repeated failures.

 

Highlighting the value of tailored guidance, May contrasts her struggles in the group ski lesson with the rapid progress she made under one-on-one instruction. She relates this to the business world, suggesting that entrepreneurs may need personalized mentorship or coaching rather than generic courses to overcome specific challenges and accelerate their growth.

 

May also discusses the pitfalls of comparing oneself to others, noting that everyone has different resources and backgrounds. She encourages listeners to focus on their own progress rather than measuring success against others. She shares how she resisted pressure to advance to more challenging ski slopes before she felt mentally ready, drawing a parallel to business owners who may feel pressured to uplevel before they are prepared.

 

In the early days of your business, setting action-based goals and conducting regular progress check-ins rather than fixating on financial outcomes is May’s suggested approach. She emphasizes the importance of consistency, strategy, and mindset in achieving success.

 

Personal and business lives are intertwined, and the way you approach personal challenges often mirrors the way you approach business. In the end, discipline and dedication will set you apart from competitors and will lead to success in your business.

 

Quotes

• "You will fail many times, sometimes more painful than the others. But if you fail when you're just starting out, the failure is cheaper. It's cheaper and it's faster to recover versus when you're failing at a high level. So don't be afraid to fail." (03:08 | May Silvers)

• "When you fail so many times, nothing's going to motivate you. It's always going to be dedication and commitment over motivation. You need to have the discipline. You need to have the commitment and dedication to tell yourself that you are going to make it, you're going to do it, you're going to learn how to do it, and you're going to learn how to do it well." (03:35 | May Silvers) 

• "You will continue to fail without knowing what to correct. When you don't know what to correct, day 2, day 3, day 4, up to day 100, you may be making the same mistakes or you may be making different mistakes, but your progress is so slow, it will be almost impossible to find a reason to continue." (06:04 | May Silvers)

• "Don't set financial goals. Set action-based goals." (14:28 | May Silvers)

• "How you show up in your personal life is how you're going to show up in your business. And how you show up in your business is a reflection of how you show up in your personal life." (16:08 | May Silvers) 

 

Links

Ready to gain some REAL business momentum for your events business? Schedule your FREE business consult call by clicking the link below. On the call, we will audit your pricing, packages and marketing strategies.

https://chatwith.mayyeosilvers.com/businessconsultcallapplication-podcast

 

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

THIS Is How You Will Win EVERY TIME - Episode 131

Success in business often hinges on factors within your control, notably resilience and commitment. In this episode of the podcast, May Silvers, who has navigated the highs and lows of the event planning industry for over two decades, delves into how these qualities are at the root of high achievement. 

 

She points out that while many competitors may start with similar resources or ambitions, it's the sustained effort to show up and improve that sets the successful apart over time. As competitors fade away, deterred by challenges or lured by new distractions, the field clears for those who persist.  Success in business is not just a result of consistent hard work but also of working smart—continuously seeking ways to grow and improve. 

 

With two personal stories, one involving her daughter, Mia, and one about May’s initial forays into social media through Facebook Live, she illustrates that if you are doing the work and showing up with heart, you will eventually win. Others will stop showing up, or they will show up less.

 

In the spirit of showing up, trying new things and consistently bringing value, May is offering something that she’s never done before: she’s offering a one-night-only bootcamp scheduled for April 2nd at 8 p.m. Eastern Time.  In this event, May will share the five pillars of business success that drove her businesses to the six-figure mark: pricing, marketing, sales, legalities, and time management. This session promises to be an invaluable resource for anyone aiming to elevate their business, offering both strategic insights and motivational wisdom. Click here to sign up.

 

Quotes

• "In business, you will win if you continue to show up and sharpen your craft. And you will win because other people stop showing up and sharpening their craft." (03:38 | May Yeo Silvers) 

• "Do not be discouraged by the vanity matrix, like how many views, how many downloads, no. You never know who's watching. And your opponent, your competitors, 99% of them will pay attention to those metrics. They will get discouraged and they will be broken down again and again and again. Whatever you're experiencing, they will be experiencing. But you know what's the difference? The difference is you throw yourself a pity party at the point in time when you only have one view or one person who’s on live with you. But you move on because you know this is your job to show up." (10:12 | May Yeo Silvers)

• "To win is not just showing up, it is also a stroke of luck, banking on the fact that 99% of the people will stop showing up or show up less. If you don't show up consistently, you don't have the discipline, you do not commit to showing up on a regular basis, and the other people also stop showing up, then the person who is going to show up a little bit more is going to win." (14:58 | May Yeo Silvers)  

• "You will win if you continue to give your full heart and your odds of winning are extremely high because the rest of the people will stop showing up or show up less." (16:54 | May Yeo Silvers)

 

Links

On April 2 8pm EST, I will be hosting a 1 NIGHT only bootcamp where I will reveal the 5 strategies I used to build my event planning company into a SIX FIGURE business. Click on this link to sign up: https://learnwith.mayyeosilvers.com/ll245pillarslandingpage-podcast

 

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

Do Your Ideal Clients Even Know That You Are Speaking To Them? - Episode 130

What are you looking for in an ideal client…a good event budget?  Host May Silvers says an ideal client must have the budget, but it’s about much more than that. In this episode, May introduces a nuanced approach to selecting your ideal clients, prioritizing compatibility in energy, work ethic, and mutual respect in addition to their ability to pay.  May says that finding your ideal client requires establishing a meaningful and productive connection.

 

Once you are clear on what makes an ideal client, you must examine your ability to attract and qualify those clients through your marketing. A common mistake May notes among event professionals is their broad, generic marketing efforts that fail to directly address the needs of their most suitable clients. She emphasizes the importance of precise, targeted marketing to attract these ideal clients; being extremely direct in speaking exactly to a particular person or status or company you are trying to reach and then showing them the results they want and that you can deliver. Through deliberate and targeted communication, she illustrates how you can attract your ideal clients to your business, while naturally filtering out those who are not a perfect fit.

 

To help event planners, designers, and decorators get clarity with this concept, along with May’s 5 pillars for business success, she’s launched the Kickstart Bundle. This is a complete set of resources that includes advice on pricing, building a portfolio, excelling on social media, and understanding legal basics. It provides guidance on improving mindset and productivity, dealing with rejection, and managing time efficiently. As a special incentive, the Kickstart Bundle is currently available for an introductory price of $20 for a 10 course bundle, complete with live support, co-working sessions, and personal development calls. Click here to learn more.

 

Quotes

• "The first thing I look for is: “Can we work well together? Do we have the same mentality when it comes to working together?” This person doesn't have to be my BFF but they need to be able to follow my process and I need to be able to follow their process. We need to have a very clear understanding of how I work and how they respond to what I ask for. It has to be easy, no chasing, no begging for information, no yelling, no shouting, no sarcasm. It has to be good energy and also it has to be efficient." (03:46 | May Yeo Silvers) 

• "If you're working with somebody, especially when it's something as personal to them as their events, you want to find somebody who respects you, your process, and also enjoys your energy, your personality, and your vibe." (07:16 | May Yeo Silvers) 

• "When I do a marketing message, I'm calling out to the people I want to work with. And I'm also highlighting my superpower, my solution to a constantly faced problem. How do I know this is a constantly faced problem? Because I do my market research." (13:17 | May Yeo Silvers)

• "I want you to ask yourself, does your marketing message address a particular person, a status, or a company? Does your marketing message address a solution to a problem that you know this group of people are facing? Does your marketing message deliver a promise of a result that these people are looking for? Hit those three points, especially the part about the person. You have to call out that person." (17:30 | May Yeo Silvers) 

 

Links

Yes you heard it right...We have created our LOWEST priced product for our mentorship program, introducing the Business Kickstart Bundle. It is a 10 courses bundle PLUS live support to help you implement what you are learning in the 10 courses. These 10 courses are carefully selected from our library of over 250 resources inside our mentorship program to give you the tool kit to kick start your events business, all at ONLY $20!!!!! Click on this link to check it out! 

 

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

Things to Consider When Trying out New Strategies - Episode 129

As a business owner, you're constantly on a quest to bolster your business and enhance your outcomes. This journey demands a thorough assessment of where you stand and a willingness to explore new strategies and tactics. But the critical question remains: When and how do you decide it's time for a change?

 

In this episode, May Silvers dives into the complexities of adopting new business strategies, balancing the comfort of tried-and-tested methods against the promise of uncharted approaches. She lays out a roadmap for entrepreneurs contemplating a shift, centered around two fundamental principles: giving new strategies ample time to prove their worth and committing wholeheartedly to their implementation.

 

May stresses the importance of a strategic evaluation, identifying what aspects of your current operations are successful and which are not meeting expectations. She notes the common pitfalls business owners face—sticking too long with familiar routines or frequently jumping between new strategies without giving them a chance to flourish. Her advice is to practice patience and maintain a strong, consistent effort over at least a six-month period to accurately assess the impact of any new strategy.

 

Achieving clarity on your goals and the motivations behind pursuing a new direction is crucial. This understanding will serve as your anchor, helping you stay focused through the ups and downs of the transition. May also touches on the inevitable sacrifices that come with change, be they mental, emotional, physical, or financial, and the importance of approaching these sacrifices with openness and readiness.

 

This episode speaks directly to entrepreneurs and business leaders who are navigating the decision-making process around strategic change. May's insights offer valuable guidance for those looking to make informed, impactful decisions to drive their business forward.

 

Quotes

• "In order to become the market leader, you need to take the initiative to really assess the market to see if what you have been doing, all the different strategies that you have been doing to elevate your business, is still gaining the momentum as it was." (03:23 | May Silvers) 

• "Sales generation and closing sales is a three to six month cycle. And you have to give yourself time. You can't say that I go on social media for 30 days and you're going to see momentum." (05:54 | May Silvers)

• "You have to find yourself a formula, a strategy that is going to respect your current circumstances, your current energy, your current resources, and then find a solution. Find your consistency and give it time, at least six months. Showing up with the same strategy every single time. And that six months is going to allow you to collect the data to see whether it's working or not." (07:45 | May Silvers) 

• "You also have to ask yourself when you're doing this new strategy, what is the ultimate goal that you want to achieve when adapting this strategy?" (10:20 | May Silvers)

• "Just know that when you're trying out something new, it's going to be difficult. It's going to have a lot of resistance. It's going to test you on all levels, mentally, emotionally, physically." (10:58 | May Silvers)

 

Links

Ready to gain some REAL business momentum for your events business? Schedule your FREE business consult call by clicking the link below. On the call, we will audit your pricing, packages and marketing strategies.

https://chatwith.mayyeosilvers.com/businessconsultcallapplication-podcast

 

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

When and Where To Hire & How to Keep Good Help - Episode 128

“A lot of businesses are not able to scale and grow at the pace that they want because they are not able to find good help,” declares May Yeo Silvers as she tackles the common issue of hiring and managing your talent by sharing insights from her own experiences. She defines what “good help” means for your business, emphasizing the importance of understanding exactly what kind of help you need before starting the hiring process and taking your time to avoid common pitfalls.

 

May outlines a comprehensive hiring strategy into key areas: identifying who to hire, deciding when it's the right time to hire, understanding the best way to go about the hiring process, and figuring out how to keep your employees or contractors engaged and efficiently part of the team for the long haul. She recommends starting with a virtual assistant to manage backend tasks, allowing you to focus on enhancing brand visibility and expanding sales outreach. Timing is everything, May advises, suggesting a proactive approach to hiring that anticipates needs rather than reacts to pressures.

 

Retention is key and May discusses how to maintain a productive team through clear communication and setting clear expectations. She touches on the challenges of letting go of team members who aren't able to adapt and grow with the business, acknowledging how tough but necessary those decisions can be.

 

May offers practical advice on where to look for potential hires, from networking events to employment agencies. She reminds listeners that finding and keeping the right team members is a continuous effort that requires patience and adaptability. It is a process that helps in both your personal and professional growth.

 

Listeners are encouraged to sign up for the upcoming Slaying Sales Workshop, taking place from March 5th to 7th. The workshop is designed to equip event planners with sales techniques, help them set achievable sales goals, understand sales metrics, and build effective sales funnels to attract their ideal clients. Learn more by clicking here!

 

Quotes

• “You never want to hire in a hurry. Give yourself time to look at the different options and talk to different people to find the best fit.” (07:45 | May Yeo Silvers)

• “You need, as a leader, to be able to communicate your expectations very clearly. Very, very clearly. I cannot stress how important this is. You need to express how you measure their performance and how you expect them to fulfill the job.” (10:04 | May Yeo Silvers) 

• “To build a team, it's not just knowing the job, but really finding someone who can gel with your personality and most importantly, also support and see the reason why you do certain things. And support your vision, your mission, your cause, and your purpose.” (16:15 | May Yeo Silvers) 

• “It's moving along, molding as you go along to find that person, molding the person, molding yourself so that everybody fits into this sphere of a company culture that nobody wants to leave.” (27:57 | May Yeo Silvers)

 

Links

Mar 7 is the LAST DAY of our Slaying Sales workshop! If you missed the last 2 days where I covered how to set realistic sales goals and build a robust sales pipeline, you DO NOT want to miss tonight's session as I will dive into sales psychology, How to Sell Without Selling. 

 

Register here to get access to tonight's session: 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

Handling Sales Objections Is About Prevention, Not Reaction - Episode 127

When you’re in a sales discussion, are you encountering objections or are you having the opportunity to have a clarifying conversation? In this episode of the Unstoppable Eventrepreneur Podcast, host May Yeo Silvers dives into the vital topic of sales objection prevention. The approach May takes herself and recommends for the clients she coaches is to prevent sales objections before they happen rather than having to react to them in a sales conversation.

 

Preventing objections starts with a marketing message that resonates with the target audience and communicates the value of the services provided. This message should clearly define whom the business serves, the problems it solves, and the unique benefits it offers, ensuring clients are pre-qualified before entering a sales conversation. 

 

May also encourages taking the time to understand and address the deeper emotional needs of prospects, such as peace of mind, safety, and happiness. Aligning sales messages with these intangible emotional outcomes can make potential clients see the value of the services offered and create clarity about why you and not someone else with the same problem solving skills, should be hired.

 

Transparency and authenticity in marketing and sales conversations are also vital. Event planners should be clear about what they can deliver and their expectations from clients, building trust and ensuring a good fit.

 

Listeners eager to dive deeper into refining their sales strategies should not miss May's upcoming marketing workshop, "Slaying Sales." This workshop is specifically designed to equip event planners with advanced sales techniques, help set achievable goals, decode the intricacies of sales metrics, and build sales funnels that effectively convert prospects into clients. Learn more by clicking here.

 

Quotes

• “It's no longer talking about the money and why they want it cheaper and why it should be cheaper. It's all about clarification, how to work with me and the process of how it will look like when we work together.” (05:31 | May Silvers) 

• “People are not only buying a solution when they decide to work with you. They are buying, at the end of the day, a sense of safety, a peace of mind, and a sense of happiness when they decide to work with you.” (06:21 | May Silvers)

 

Links

Event Planners! You have turned your passion for events into a business. But do you REALLY have a business?

If you don’t have regular sales, you don’t have a business, you have a hobby. Probably an EXPENSIVE hobby

A REAL business has:

Sales goals and metrics

Sales funnels 

Proven sales strategies

You can plan and design events all day long, but when it comes to selling, you feel

Don't worry, I have got you covered! 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

Is Your Business Structured to Have Sustainable Profit? - Episode 126

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

 

Should You Invest In A Course Or A Mentorship Program? - Episode 125

If you want to accelerate your event planning or design business, should you enroll in a course or engage in a mentorship program? In this episode, May Yeo Silvers breaks down the essentials, starting with courses—a self-paced learning experience often accompanied by varying levels of support, from email and group assistance to live Zoom sessions. These options present a more affordable entry point into professional development but demand a high degree of self-discipline and motivation.

 

In contrast, mentorship programs represent a deeper dive, offering a comprehensive and structured curriculum supported by live interactions, personal development coaching, and a strong emphasis on accountability and community. Spanning six to twelve months, these programs are designed to foster significant mindset shifts and self-belief, crucial elements for long-term success.

 

Understanding your learning style and personal needs is key, May suggests. She outlines how self-starters with a strong track record of independent success might thrive in a course setting. Meanwhile, those seeking transformational change and who benefit from external motivation and accountability might find mentorship programs more aligned with their needs.

 

Reflecting on her journey, May shares insights from her progression from mentorship to self-guided learning, underscoring the importance of self-awareness in choosing the right investment. She encourages listeners to seek perspectives from trusted advisors to illuminate which path might suit them best.

 

Concluding, May reaffirms the value of investing in personal and business growth, stressing that the choice between a course and mentorship should align with one’s unique circumstances and commitment to growth. It’s not just about choosing an educational investment but about selecting a path that resonates with your personal journey towards achieving your business dreams.

 

Quotes

• “You have to ask yourself, okay, can you count on yourself to show up to do the work? If you have not shown any track record in your life that you are a person of integrity in terms of doing what you say you will do and always do it to the end, no matter how many times you fail, you get up and you still do it. If you haven't had that track record, then you will need a mentorship program.” (14:47 | May Silvers)

• “When people tell me that they invest in things, regardless whether it's a course or mentorship program and it didn't work, I don't look at what they invest in. I look at their behavior. What kind of excuses are they giving to me? What's are the reasons they're giving to me that they say that they cannot work? Because if it works for some other people, it will work for you if you're willing to go through a certain process.” (16:41 | May Silvers) 

• “Unfortunately, a lot of people refuse to get the help they need because they don't see that the investment is worth it.” (29:12 | May Silvers) 

 

Links

If you are looking for advice to launch, grow or scale your business, we have a few more slots open for our FREE Business Consult Call. On that call, we can talk about how to price for profit, how to grow your social media presence, what to do to attract ideal clients, what you need to start your events business, where to find good help etc.. Click on this link to schedule your FREE Business Consult Call: Aha! Moment Business Consult Call

https://chatwith.mayyeosilvers.com/business-consult-calendar

 

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

Business Financial Numbers to Know at the Beginning and Ending of the Year - Episode 124

Do you know your numbers? In this episode, May Yeo Silvers takes listeners beyond the surface of basic profit and loss, into the heart of what truly determines a business’s financial health. With insights grounded in her own entrepreneurial journey with M2 Hospitality and Events4Anyone, May opens up about the often-overlooked aspects of financial analysis that can spell the difference between growth and stagnation.

 

The essence of May’s discussion lies in the critical examination of opening and closing balances, a simple yet profound indicator of a business's profitability over the year. But the journey doesn’t stop at these balances; May delves deeper, examining the intricacies of expenses across various categories such as technology, labor, and marketing. It’s not just about tracking where the money goes but understanding the return on these investments that illuminates the path to informed decision-making.

 

Turning the attention to revenue, May explains the importance of knowing not just how much you earn, but how and where from. This analysis isn’t merely reflective but predictive, guiding where resources should be channeled in the future to maximize profitability.

 

The concept of working capital is demystified as May explains its role in ensuring operational liquidity. She brings practicality to the forefront, advising on how to calculate the necessary working capital to keep the business afloat during tough times.

 

May’s narrative is interspersed with personal anecdotes of efficiency and cost-savings, like her strategic move to consolidate software platforms, showcasing how operational tweaks can lead to significant financial savings.

 

This episode stands as a testament to the power of financial literacy in the entrepreneurial journey. May doesn’t just share a formula for analyzing business finances; she invites her listeners to adopt a mindset shift. By embracing a deeper understanding of their financials, entrepreneurs can unlock new levels of insight, leading to more strategic decisions, optimized profitability, and ultimately, a healthier business.

 

Quotes

• “At the end of the year and at the beginning of the year, I always look at a few numbers and then I make business decisions based on what the numbers are telling me. Emotions come into play, of course, they are taken into consideration, but numbers don't lie.” (2:58 | May Silvers) 

• “So let's just say that your opening balance is $20,000. The opening balance, $20,000, if you're a brand new business. Let's keep this simple. If you're a brand new business, $20,000 you put in at the beginning of the year as a working capital for your business. That means you don't have any revenue come in yet. And then at the end of the year, you can see that your closing balance is $30,000. So you're very happy that you have more money at the end of the year than the beginning of the year.” (5:19 | May Silvers)

• “I also need to know where the revenue came from. So I start looking at, okay, I booked this event, and this event came from where? Who referred me the lead? Or Did it come from Facebook ads? Or did it come from my social media where, you know, people reach out to me based on the content that I created?” (10:00 | May Silvers)

• “So before you go into thinking that, oh, you know what, just cut, cut, cut, save money. I also have to think about the efficiency of the business. doesn't make sense for me to have two separate platforms to do two separate things, whereas I can have a platform that can do it all. So it's not just the money, but also the efficiency of how the business is being run, because the efficiency will ultimately affect how profitable you are.” (19:59 | May Silvers) 

• “My marketing strategy for 2024, is it going to require more working capital? If it's going to require more working capital, how much more? Is $20,000 enough? If $20,000 is enough, which is my working capital for 2023, okay, if $20,000 is sufficient based on the pipeline of the leads or sales that's coming in, so I know that there's more business coming into the business. I can actually take that $10,000 out and then put it in somewhere else where I can earn interest or invest.” (22:03 | May Silvers)

 

Links

If you are looking for a software that allows you to book calls, automate your proposal, contract and invoicing process, project and funds management, HoneyBook, one of the most popular software used by the majority of event prof is for you! If you want to get 50% off for the first year of your subscription, click this link to start a free trial!

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