Local manufacturers were encouraged to embrace change this week, or face becoming obsolete.
Southern Manitoba Manufacturers' Summit keynote speaker David Chalk explains 90 percent of companies on the Fortune 500 list in 1955 no longer exist.
Businesses can easily become stuck in old habits, he says, citing grave warnings from the television, newspaper and music industries.
"We have to become uncomfortable," he says, rather than stick to what worked in the past.
His second warning was the danger of success, "as we get better at what we do, we forget about the customers we started with," Chalk says.
Instead, he encourages business leaders to continue to serve and protect their original customers, rather than leave them behind as their companies expand.
"Today's success is the enemy of tomorrow's success," he says.
The summit was organized by Canadian Manufacturers & Exporters (CME).
At the 6th annual event, speakers and workshop leaders spoke on topics like the impact of new technologies, navigating intellectual property law, and environmental regulation.
Harv Giesbrecht of Winkler-based Icon Technologies shared their story of growth, expanding into a new 100,000 sq ft facility.
He explains the annual summit is a great place to network and collaborate.
"You're finding people with common interests who can share their experience and give you a better idea of how to weather storms you're going through," Giesbrecht says.
Ron Koslowsky, VP of CME Manitoba explains the summit connects Winnipeg resources with Pembina Valley manufacturers.
"I grew up in Niverville, so I've grown up knowing there's life outside the perimeter of Winnipeg," Koslowsky says. "So many resources there... don't know how to connect with people outside of Winnipeg, we've tried to make that marriage."
He adds it's an exciting time in manufacturing, one propelled by cutting-edge technology.
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