Grantco – What a Company Needs to be Successful

It’s often said that companies need to pass through the proverbial eye of a needle in order to be successful.  This is very evident with the company attritions that we’ve been seeing.  It’s very rare for a company to survive for 5 years, with even some of them closing shop before they celebrate their 1st year anniversary.  This is especially true in a competitive industry like the toy industry.  With a lot of competitors, it’s hard for a company to succeed.  This is because aside from competing with itself, it also has to compete with thousands of other companies that are competing with themselves as well.

Grantco is an example of a company that has succeeded even with what seems to be everything going against them.  They were able to succeed with the help of these 4 things:

Experience

Getting the experience needed to succeed is a little hard for most companies because they’re starting from the ground up.  Most of them undergo a learning process with the hopes of gaining experience along the line.  If a company is lucky, it will survive the bumpy ride and gain the experience needed to be successful.

On the other hand, there are companies like Grantco that hit the ground running.  They started their companies already armed with the experience to be successful.  Let’s take Grantco for example.  The company was started by people who used to be a part of a major player in the toy industry.  This is why they already have the knowledge and skills needed to run a successful company.

Talent

Talent is needed if you want to be successful because you need to have the talent needed to produce great products.  Toys are products of talent and creativity and this is the only way you can compete with your competitors and come out on top.  Without these products, your company will just be a white elephant that will suck your funds dry.

Personnel

Most, if not all processes in the company will depend on your personnel.  This is why it’s very important that you hire the right personnel.  In the case of Grantco, they already have experienced personnel and this is why their processes are effective and efficient.

Vendor base

The vendor base is also very important because they’ll be your partners towards to success.  You can’t be expected to produce everything because that won’t be efficient and that will be very expensive.  You would have to rely on other companies for help so that you’ll have everything that you need.  It’s important that you team up with vendors that share your own goals.  It also helps that they’re already successful.

With the help of these things, your company can be like Grantco and be successful.  As a consumer, it’s a good idea to deal with successful companies especially if you’re on the lookout for toys for your kids.