Businesses that have survived over 20 years- What's the secret?

[King Belieal]

I just passed through my childhood neighbourhood and I saw the arts studio that was existing in the neighborhood since I lived there over 20 years ago. I was shocked to see the business still in existence.

What's the secret that can make a business to survive for over two decades?

 

[Fidelia]

When you see a business that has survived that long, you have to understand that it is a product of discipline and dedication to growth ans sustainability.

 

[Stardom22]

Resilience and patience are the most important things for the growth in sustainability of any business.

 

[Shavkat]

I think that they know how to manage their companies. A good management will lead to a good company.

 

[Fidelia]

Businesses don't just survive years because they want to. It takes work. They surely had downtimes but they never got distracted by those downtimes.

 

[Etini Willie]

I know of an animal feeds shop that has been running for 30 years now and is a mega brand. Hope the kids of the founder won't run it down when he is gone.

 

[eldavis]

It's mostly about hard work and consistency. Am pretty sure there where hard times for the business owner, but he was still consistent. Ensuring quality services while being consistent is also another key.

 

[Sanjeev]

They must be making good profits to sustain their business by making future strategies and implementing them.

 

[Ratine]

You would find that such businesses have some resilience of the highest order.

 

[Fidelia]

If those businesses tell you the kind of challenges they faced from different quarters, you just won't want to imagine. But it is all about being resilient.

 

[Passiveearner]

There are certain businesses that can survive for a really long time. The reason why they survives is due to the fact that they usually sell product people like to buy.

 

[Stardom22]

I have realized that it's pretty hard to see a business that has survived for long to collapse

 

[timewo]

Many business owners are from the rich and powerful communities they get support of leaders and officials from the community, so they have plenty of orders.

 

[Ratine]

One may need some experience for them to lead their businesses through for long serving time.

 

[Etini Willie]

Understanding the vision of the business to be long term and taking all the pains with that goal in mind is the key to businesses that survive for that long.