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Economic Success Around the Corner But only if you can make the turn

By Mike Botta

In a few short weeks, many of woodworking sharpest business minds will be gathering in California for a think-tank approach to success in the post recession.
 
Yes, you deserve a pat on the back for making it through the toughest economic times in nearly a century, but all the rules have changed. So, your choice going forward is clear: Reevaluate your business strategies now to capitalize on the post recession or keep to your past practices and hope to stay afloat.
 
Cleverly themed “Forget Yesterday, It’s a New Tomorrow,” the three-day Woodworking Industry Conference (WIC 2010) is a collaborative effort by three of the industry’s most influential trade associations: The Wood Machinery Manufacturers of America (WMMA), the Woodworking Machinery Industry Association (WMIA) and the Association of Woodworking & Furnishings Suppliers (AWFS).
 
“WIC 2010 will address specific issues that affect company profitability as well as the future trends that will profoundly touch our businesses,” Tom Onsrud, president of WMMA, said. “Although we tend to be immersed in everyday challenges, we all need to pause to learn and question the risks and rewards of the future. WIC facilitates this deeper understanding.”
 
In today’s economic environment, people need to re-think their business strategies, according to Kenneth Hutton, executive VP of the WMMA. “To expect that things will return to the way they were, that’s not a good idea,” Hutton said.
 
“One of the keys to surviving a downturn is planning for the economy’s inevitable recovery,” according to the program organizers.
 
Hutton added that business leaders in the field are proceeding with “guarded optimism” that the economic picture will soon brighten. “Business is picking up and it’s stronger than where it was,” he said, “but they all have a long way to crawl back.”
 
Focus of the event will be education and marketing, according to organizers. And by networking they don’t mean just shaking hands. The idea is to meet leaders from similar sized companies and develop sources that one can call occasionally to share advice when particular problems arise.
 
“We’re putting an emphasis on education, networking and sharing business strategies to strengthen the industry,” is the way Joan Kemp, president of AWFS described it.
 
At the WMMA, most members tend to be senior management at small and entrepreneurial companies, Hutton said. “Three-quarters have less than $10 million in sales and less than 40 employees,” he added. But, the group also has its share of much larger companies.
 
Bringing together the memberships of three key trade associations enables attendees to get a well-rounded picture of market issues, trends and initiatives, according to organizers.
 
“This an important event for us. WIC offers outstanding networking opportunities and allows us to meet with a number of peers and partners for the cost of just a single trip,” David Rothwell, president, WMIA, said.
 
To accommodate the changing economic environment and the wishes of participants, the program has been revamped this year, shortening the individual “contact table” program to one day and expanding upon the topics to be discussed during the forum portion of the conference.
 
Separate forums tentatively scheduled include:
 
  • Green User
  • End User (2 forums)
  • Distributor-only 
  • Manufacturers
  • Public Policy
  • Economic Outlook
 
Also new this year will be an industry panel on “change” along with an open industry roundtable discussion, organizers reported. 
 
On the subject of “green,” Hutton pointed out that it’s largely about sustainability. While some people regard it mainly as an issue of technology, he said the WIC program will look at the concept from a management perspective and present “practical hands-on opportunities and suggestions for manufacturers and distributers to embrace green.” 
 
The work to pull together WIC 2010 is equally shared by the three sponsoring organizations, organizers said. In addition, a fourth trade group, the Wood Component Manufacturers Association (WCMA) has joined on board as a “participating” association, supplying program input and a variety of speakers to help round out the sessions.
 
According to Keith Atherholt, president of WCMA, “We are all questioning how to spend our money to help our companies these days.”
 
The WIC program became a victim of the economic downturn last year, as registrants held back in the face of the deepening banking crisis and worsening world economic picture. 
 
But, this year with the economic picture improving somewhat, and with a program designed to help companies decipher the new strategies necessary for success in the new decade ahead, organizers are confident participation will be strong.

 

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