What Happened: NAW’s 2009 Executive Summit – ‘Profiting Despite the Difficult Economy’
by Christina Lee on February 6th, 2009
The idea first sparked last spring. Ron Schreibman, along with others in the National Association of Wholesaler-Distributors, had already seen the news and heard of companies suffering under the problematic economy.
In the meantime, this senior vice-president of strategic direction had to organize an annual executive summit for 2009, “a meeting of the collective leadership of the wholesale industry.”
Then the two thoughts converged. He realized that the association and its members should create a productive discussion, “to go beyond just articulating what the problems are.”
“Yes, it’s difficult,” he thought, “but there are things that companies are doing that are going to help them succeed. Let’s talk about those.”
And so the 2009 Executive Summit – “Distributor Success Stories: Profiting Despite the Difficult Economy” – evolved. From January 27 to 29, hundreds of senior executives filled the seats allotted in the District’s Fairmont. The attendance levels surprised Schreibman, as he figured that its costs would have set them back.
“Given the difficulties with the economy right now, we had been hoping for the best but preparing for the worst,” he said.
The speaker who gained perhaps the most attention was Alan Beaulieu, president of the Institute for Trend Research. For two executive summits in a row he gave his yearly forecast, and then attendees requested his return yet again this year, after he gave a memorable prediction for 2008.
“The reality is, we’re not at a recession,” he said, as reported by Electrical Wholesaling. “We will grow at a tepid pace in 2008, and you will have one more year of growth. In January 2009 you will be in a recession.”
His prediction for the rest of 2009 generated a similar mood, more or less, amongst this year’s attendees. Among other statistics, he told them of how unemployment will rise, industrial production will fall, and how deflation will arrive – but then comes recovery, though mild, during the second half of 2010.
“I would say that the audience appreciated Alan’s candor,” Schreibman said, later adding, “The news he delivered wasn’t uniformly presented because of the difficulties out there right now. But we feel that our job is to tell it like it is.”
With that came the purpose of the summit: to reveal how current economic conditions have encouraged many businesses to strategize for and demand success.
Adam Fein, founder and president of Pembroke Consulting, had talked to many executives who have already implemented a number of strategies that are keeping their companies competitive: “Work harder” for every sale. “Stay connected” to every customer. “Keep perspective” – “the tide will turn again,” as Fein wrote.
The trade association also sought to teach strategies, regarding business relationships in addition to sales and marketing optimization. John Bolton, former U.S. ambassador to the U.N.; Nina Easton, Washington editor of Fortune magazine, and Ed Gillespie, former counselor to George W. Bush also spoke regarding what wholesaler-distributors could expect of the new presidential administration.
In sum, the two days of lectures and discussions turned what Schreibman had hoped to see – effective counseling for wholesaler distributors.
“It’ll be interesting next year to visit folks who attended this meeting, to see how 2009 turned out for them given the preparation, the suggestions and recommendations made at this meeting,” he said.
Christina,
Here is the link to my article about the NAW meeting called “Strategies for Surviving the Recession”:
http://www.distributiontrends.com/2009/02/strategies-for-surviving-recession.html
Regards,
Adam
Adam Fein
February 10th, 2009
at 1:42 am