A SWOT analysis in business analysis strengths, weaknesses, opportunities and threats. The process is a good review of what’s working well and where things can improve.
Often times threats can be shrugged off to the side with delusions of grandeur that can oftentimes leave us blindsided.
It’s been said that our cavemen ancestors are to blame for our exaggeration of rare risks like shark attacks vs common risks such as traffic accidents which in fact actually harm more individuals per year statistically.
Business decisions are not exactly headline material and therefore we tend to downplay our approach them as such as well.
Ineffective and harmful traditional business practices are often replaced with better ones that make the difference between winning and losing. That’s evolution.
Frain has evolved over 36 years as well. After buying and reselling used machinery for decades, we shifted to selling fully refurbished machinery and complete lines.
Recently, in 2016, we evolved our services again to extend short-term solutions to companies who traditionally purchased machinery.
Not only did we evolve to provide new and like new machinery – we provided it fast, customized and now under rental terms.
Companies with new packaging ideas came to us. They got to market faster and seized revenue that before now was unavailable, until now.
Best of all, the new rental terms essentially made it risk-free in borrowing machinery for a fraction of the profits.
A growing number of companies are “getting it” as they’ve embraced this advanced approach and leverage it where it makes sense for them.
In the end, it’s an option that certainly helps our customers survive and thrive in the CPG marketplace.