Summary.
For the past decade, growth rates have defined success for most technology companies. But as in a marathon, in business pacing and perseverance should be paramount. Longevity in business creation is taken as a given – nobody sets out to create a company with an expiration date. But very few early-stage companies think critically about the strategic principles needed to endure. We think this is essential going forward. Looking at long-standing companies across various industries, we were able to identify several foundational elements that have contributed to these companies’ tenures.
They include society-first principles, adaptable long-term strategies, and scalable leadership. By adopting such standards, startups can increase the odds of long-term sustainability without negatively impacting short-term growth or society at large.