WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain – especially for the nearly 15 million unemployed Americans – will persist. Full story here.

– This headline and story reminded me of the old adage, “When your neighbor is out of work, it’s a recession. When you are out of work, it’s a depression.”

One should be very cautious in accepting sweeping predictions, whether good or bad. For the wedding industry business owner, most circumstances are driven by the local situation. If a ‘headquarters company’ packed up and left your city recently, that has a big-time negative impact.

If the housing market is in the dumps, significantly below the national average, that’s a symptom of a slower recovery for your market.

Some of the question you should address, going forward, are these.

• Are the shopping/negotiating/buying patterns changed, for the foreseeable future?
• Have you made the necessary cutbacks and installed better efficiencies to serve your clients, without a drop-off in service?
• Are your key employees steady and locked-in with you?
• Have you been able to increase your market share in a down-ecoomy?
• Do you have a 6-month to 2-year plan, based on benchmark sales trends in your business?

You should neither be pessimistic or optimistic right now. You should be creative, innovative, and always be problem solving.

As the old saying goes: “Early to bed, early to rise, work like hell, and advertise.”

Andy Ebon
The Wedding Marketing Authority

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