The Myths About What You Need to Start an Event Planning Business

Host May Yeo Silvers has owned her event planning business since 2012. As an expert in the field, May can’t help but become frustrated by all of the misinformation being shared by others in the industry. In today’s episode, May busts common myths surrounding what you need to have in order to start your own event planning company.  Whether it be owning your own inventory, office space or venue, May explains that you don’t need any of it to start a business. In fact, it is actually a waste of your money. As we all know, time is money, and when you are first getting started, it is crucial that you are picky about where you are incurring costs. May stresses that it doesn’t make any sense to spend money before you make money, and owning any of these things comes with more costs than benefits. In order to best save your time and money, May suggests renting inventory, booking out a venue, and meeting your clients either in public or at the venue itself.  Tune into this week’s episode of The Unstoppable Eventrepreneur Podcast™ to hear May bust more myths that are floating around the industry. Learn the truth about what it takes to get started from an expert in the field and how to cut down on costs, so you can focus on what’s most important: starting a business that can thrive.    Quotes • “No, you do not need to own inventory. Why? You aren’t an event rental company, you’re an event planner.” (02:22-02:37) • “If you want to copycat, find the right cat to copy!”  (03:24-03:26)  • “By the time you calculate how much you're spending on owning the inventory vs. your time, you will end up actually making very little money or losing money.” (07:25-07:40) • “If you say that your dream is to own a venue so that you can provide your event planning services in conjunction with the venue, great! But if you're first starting your business, why do you need to own a venue?” (08:00-08:11) • “Your job as an event planner is to plan events, not to own a venue. So be very clear about exactly what type of business you want to build.” (08:42-08:51) • “People buy from you because they like you. People want to work with you because they trust you, and they trust that you can do what you say you can do. They want to work with you because they like you because your personality is a match. What is the point of having a certification if you have zero experience in planning an event?” (12:08-12:37)   Links Connect with me at: [email protected] 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   Podcast production and show notes provided by HiveCast.fm