Having Many Clients Doesn’t Mean You Have a Thriving Business

“Just because you have a lot of clients, does not mean that your business is thriving,” explains host May Yeo Silvers. In fact, you could have a lot of client’s and still not be living your desired lifestyle. In today’s episode, May discusses the qualities of a successful and thriving business owner.   According to May, many new event planners fall for the idea that in order to make money, they need to book as many clients as they can. While it is definitely good to have a steady flow of clients, it is more important to focus on the quality of them. Before you decide to take on a new lead, May says you must ask yourself what your return on investment will be. If you are working every hour of every day just to make 100k, you might want to reconsider how you structure your business. When you are more efficient in your business plan and marketing strategies, you will likely find clients who will pay you the hourly rate that you deserve.    At the end of the day, the goal of owning your own business is to live a lifestyle that suits you best. But in order to do this, you must be savvy in the way you handle clients and run your business. Tune into this week’s episode of The Unstoppable Eventrepreneur™ to learn more about the importance of setting an hourly rate that keeps clients coming but allows you to live financially free.    Quotes • “The question that you should be asking yourself is ‘how much money am I making from each client?’” (02:07-02:17 | May) • “There is no point to booking so many clients, and working so many events, but making the same money as another business owner who makes the same amount of money as you, but is working much less.” (05:09-05:23 | May) • “Every time you take a lead, you have to ask yourself, ‘What is the potential revenue I'm going to get from this client? And what is my return on investment?’” (07:55-08:10 | May) • “You need to pay attention to your numbers, not to the vanity matrix of ‘Oh, I have a lot of clients.’ I don't care if you have a lot of clients. All I care about is how much are you making and keeping.” (16:48-17:05 | May) • “Do not confuse a thriving business as one that has a lot of clients. No, a thriving business is one that has clients that have a high yield value and a CEO who knows how to calculate their worth.” (18:28-18:40 | May) 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