511 LIENE STEVENS: Current State of the Wedding Industry and Investing in Yourself

The Wedding Biz - Behind the Scenes of the Wedding Business

In this truly enriching episode, join Andy as he connects with Liene Stevens, the acclaimed author, behavioral psychologist, and CEO of Think Splendid! Liene brings a wealth of knowledge from her extensive experience in the global wedding market, having collaborated with clients across 97 countries and revolutionized operations for numerous luxury brands and resorts!

Tune in as Liene shares her unique journey from an unexpected promotion at a nonprofit right out of high school to becoming a key player in negotiating the release of hostages with the U.S. State Department! Her unorthodox path led her to found Think Splendid in 2005, where she has since become a trailblazer in wedding industry consulting.

Andy hopes that you will listen in to hear insight into the intricacies of running a successful wedding business! Liene discusses the current challenges facing the industry, including the implications of a slowing market in 2024. Contrary to popular belief, Liene clarifies that the dip in engagements post-pandemic is a myth that is unfortunately perpetuated by major jewelry companies. She instead attributes the slowdown to broader economic uncertainties and changing consumer behaviors.

Also emphasizes the importance of continual self-improvement and creative rejuvenation, Liene highlights the need for wedding professionals to elevate their standards in tandem with their prices, providing actionable advice on refining business practices, enhancing team skills, and staying creatively inspired.

Liene and Andy additionally take a deep dive into the vital role of mental health in business success, with Liene advocating for the value of professional therapy over business consulting when addressing personal challenges that impact business operations, drawing from her own background in behavioral psychology.

Andy sincerely hopes that you will tune in to hear Liene's invaluable insights and practical advice that can help wedding professionals navigate a slow market, enhance their offerings, and ultimately thrive in the ever-evolving wedding industry! If you enjoyed this captivating episode with Liene, then Andy hopes that you will share this episode with at least three people who might also enjoy it! Be sure to also subscribe to the podcast so that you never miss an episode, and Andy would also appreciate a positive review wherever you listen to the podcast!

Have you heard about Stop and Smell the Roses with Preston Bailey on The Wedding Biz Network? Listen as Preston shares the secrets, tools, and technologies behind his extraordinary ability to create a theatrical environment out of any space. Also, don't forget about Sean Low's podcast The Business of Being Creative, where Sean discusses the power of being niched, pricing strategies, metrics of success, and so much more. You can find both shows on The Wedding Biz Network.

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Time Stamps

[0:04] - Andy reveals that he has recently taken his daughter to Telluride for hiking and catching up with an old friend. [0:57] - Andy announces that this episode’s guest is Liene Stevens of Think Splendid! [2:08] - Liene clarifies that she is a business consultant for wedding industry companies, not directly for brides and grooms. [3:00] - Hear how Liene delayed college to work at a nonprofit; she was promoted quickly and led 180 employees! [4:42] - Hear the incredible story of how Liene negotiated a hostage release, working closely with Colin Powell's office and keeping it out of the press. [8:14] - Liene started the first B2B blog for the wedding industry as a marketing tool, which still exists. [10:03] - Liene touches upon how Signet Jewelers affected engagement sales but did not clarify if it included non-diamond rings. [12:18] - US weddings fluctuate between 2.2-2.4 million annually, and election years cause spending hesitation and longer engagements. [14:58] - Liene argues that last-minute spending is challenging for businesses that are used to longer engagement cycles; slow years are opportunities for critical business reflection. [16:34] - Focus on refining your sales process by including training and team skills to enhance client interactions. [18:16] - Andy points out how investing in team bonding and skill enhancement is crucial because it improves client and planner connections. [20:02] - Rather than just raising prices, wedding pros should really be focusing on improving skills and evolving creatively. [22:50] - Liene explains how The Artist's Way suggests morning pages and artist dates to spark creativity and stay ahead in the artistic industry. [24:28] - As a behavioral psychologist, Liene emphasizes the importance of therapy over coaching for personal issues that impact business.

[27:56] - Liene argues that meditation and therapy not only enhance business decisions but also enrich all relationships in life. [30:07] - Andy reveals where Liene can be found online.

LINKS AND RESOURCES Julia Cameron - The Artist’s Way

Find Liene:

Think Splendid - Website Think Splendid - Instagram Page

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Title Sponsor: This episode is sponsored by Kushner Entertainment.