Typically, thousand-year reigns is the stuff the dreams of madmen and tin-pot dictators are made out of. Japan however manages to also have millennia-old businesses and is currently home to more than 50,000 that are over a century old.
While easy access to finance when times are tough has played a key role to this longevity it’s not the only answer to the question of “how do they do it?”
Over the years the hard skills a company has (what it does and how it does it) will change in response to technological advances, customer profile shifts and the inevitable change in demographics and consumer tastes.
It’s the soft skills however (why it does what it does) that will keep it in business.
Failure to adequately answer this last question negates pretty much every advantage hard skills can provide.