Published on 2016-12-10
In furtherance to our discourse on creativity and flexibility as concerns business life cycles, let’s take a cursory look at the intrinsic value of longevity of a going concern. A business can be likened to a baby .it is conceived and brought to life by the parents then nurtured by the parents and maybe other individuals. But certainly when that child becomes a stable and resourceful adult he becomes an asset not just to the parents but to the entire community, he becomes a livelihood provider to many and contributes to social development among other things and same goes to businesses: Once a business is established and starts providing livelihood and life style to the owners, workers, and other third parties, it becomes an asset not only to the original owners but to the community and the nation at large. At this point, the continuity and survival becomes everybody’s business.
I took fancy to want to know when a particular business was established why, because there is a lot of message to it. Those who have come a long way like flaunting it because it is a source of confidence and power. Check out GUINNESS’ bold and proud - (SINCE 1759).
The first road to longevity is mind set, how? founders of businesses must view it as a going concern- an entity that is not at threat of liquidation in the nearest future, meaning Those who see their businesses as just a means of livelihood will not achieve the same success and longevity with those who see their business beyond that, but also as a means to live a legacy for the family, community and the nation. My interest in longevity of businesses started way back in 2004 when I stumbled on a business in the Brixton area of London that boasts of being in existence since 1575 and ever since then I’ve been on the lookout for such businesses to find out what made them thick and near invincibility. And the three concepts that seem the common denominator to achieving such feat are succession philosophy, succession plan and psycho cloning.
Written by: Reuben-Laurence Nzewi