Contrary to the stereotype of being 'dusty' or resistant to change, companies that last for centuries are masters of adaptation. Their longevity is direct evidence of their forward-thinking ability to navigate crises, from wars and pandemics to technological disruption.
The paradox of long-term planning is that focusing on sustainability and succession—building a company that doesn't need an exit—makes it far more valuable and appealing to potential buyers. Robust, self-sufficient companies built to last are inherently better investments.
Companies typically fail from poor execution, not poor vision. Success depends on navigating a handful of pivotal 'moments of truth' over a lifetime. The most critical leadership skill isn't just making the right choice, but first identifying that a rare, critical decision point has arrived.