Lessons From Century Club Companies: Managing for Long-Term Success

One thing we learned from the Century Club companies: the first step is deciding that survival is the ultimate goal. From there, the five practices forming the longevity model can help you reach it.

Factor 4: Long-term employee relationships

The Century Club companies also place more importance on profitability than growth.

There is a notable absence of talk about profits or financial strength. The old firms showed the most differentiation from other firms in the ways they live up to their mission statements.

Every privately-owned Century Club company interviewed said staying private was key to their longevity.

This is the profit paradox of Century Club companies: though they don’t define the purpose or mission of their company as making money, they are very profitable.

The connection between employee training investments and long-term employment is well documented

There is, however, one common practice the old companies share: a conservative approach to managing finances. These firms are very reluctant to go into debt as a way of funding their business.

Factor 5: Active members of the local community