Should you niche down or keep your options open? It’s one of the biggest questions entrepreneurs face, and the answer isn’t as simple as you might hope.
May Yeo Silvers shares her own experience navigating this decision in the event planning industry. When she launched M2 Hospitality, she offered a full suite of services—event planning, design, and destination management. Over time, she refined her focus, zeroing in on in-person events for Fortune 500 companies and high-earning coaches. Was that the right move? Absolutely. But would it have worked if she had started there from day one? Probably not.
Many entrepreneurs worry that niching down too soon could limit opportunities. Others fear that offering too much will leave them feeling scattered. So how do you know which path to take? May breaks it down, encouraging listeners to experiment, pay attention to what truly excites them, and build a business that aligns with both their strengths and their long-term goals.
May also shares lessons from her coaching business, where she took the opposite approach—starting highly specialized before expanding her reach. The takeaway? There’s no one-size-fits-all strategy, but there is a way to make an intentional choice instead of a fearful one.
Quotes
• “When I first launched M2 Hospitality, I had different baskets of services and different baskets of revenue. I did not put all my eggs in one basket because I suffer from FOMO and I thought that it’s a good way for me to expose myself to all the different services that I know I’m very good at delivering and then eventually get a feel of what I really love to do.” (08:45 | May Yeo Silvers)
• “I don’t want to wake up just looking for money. I want to wake up doing what I really enjoy, which is event strategy, event planning.” (12:04 | May Yeo Silvers)
• “To niche or not to niche is an evolution. Don’t be too rigid about it. If you’re certain that you only want to focus on one thing, like weddings, and you have no interest in corporate events, children’s parties, or other social gatherings, then commit fully to that niche.” (17:27 | May Yeo Silvers)
• “If you’re offering a full suite of services instead of niching down, be clear in your messaging. There are clients who need exactly that. Don’t get caught up in worrying, ‘What if I’m not known for this?’ If you niche down, you might start second-guessing—’But I can also do this.’ That uncertainty can leave you stuck in the middle. So, pick a side. The best way to figure it out? Try everything first, then decide what you truly love doing.” (23:38 | May Yeo Silvers)
Links
BEFORE you spend time thinking if you should niche down or not niche, you should FIRST be doing a self evaluation if you have the business skills and acumen to start and grow a business. This is probably the most forgotten step yet the most important part that every entrepreneur needs to consider before they even start thinking about anything else business related.
The good thing is that business fundamental skills and acumen could be learned and acquired overtime. To help you take the first step of making your dream of owning a business to reality, I have put together a Business Kickstart Bundle which you could use as a launchpad.
The bundle consists of 24 crucial learnings that every planner, designer or decorator needs for the WHAT and the HOW. There are videos and templates revolving around, pricing, sales, marketing, legalities, mindset and productivity hacks. Click this link to find out what the bundle includes and what other EVENTrepreneurs have to say about the 24 course Business Kickstart Bundle!
Connect with May at: [email protected]
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
