The Century Club: What Makes Companies Last 100+ Years

According to Fast Company, Eric Becker, founder and chairman of Cresset and co-founder of Sterling Partners, has identified five key insights from companies that have successfully lasted for generations in his new book “The Long Game: A Playbook of the World’s Most Enduring Companies.” Becker, who leads a multi-family office with billions in assets under management and has extensive experience with private equity firms, specifically studied businesses that endure for a century or more rather than being sold. His research reveals that lasting companies intentionally structure themselves for longevity rather than short-term gains, with distinct patterns separating them from temporary ventures. This research provides crucial insights for today’s leaders seeking sustainable success.

The Lost Art of Generational Thinking

What Becker’s research highlights is a fundamental shift in modern business philosophy. While historical companies often planned for multi-generational legacies, contemporary business culture has become increasingly short-sighted, driven by quarterly earnings reports and rapid exit strategies. The very concept of building something meant to outlive its founders has become almost radical in an era dominated by entrepreneurship focused on quick scaling and acquisition. This generational thinking requires a completely different approach to decision-making, where investments in culture, infrastructure, and talent development take precedence over immediate profitability.

Structural Impediments to Longevity

The modern financial ecosystem actively works against the type of longevity Becker describes. The rise of private equity and venture capital has created powerful incentives for rapid growth and exit rather than sustainable, gradual development. Companies structured around funding rounds and acquisition targets inherently prioritize different metrics than those building century-long legacies. Even public markets punish companies that make long-term investments at the expense of quarterly performance. This creates a fundamental tension between the structural realities of modern business and the principles that enable true longevity.

The Family Business Paradox

Interestingly, many of the world’s oldest companies are family-owned enterprises, yet family businesses face unique challenges that often lead to their demise within generations. The successful multi-generational companies Becker studied have likely navigated the treacherous waters of succession planning, family dynamics, and professional management transitions. This suggests that the principles enabling longevity aren’t about avoiding challenges but developing robust systems to manage them. The most enduring companies appear to have institutionalized processes for leadership transition that transcend individual personalities or family connections.

Applying Ancient Wisdom to Modern Markets

The real test of Becker’s findings lies in their applicability to today’s rapidly evolving business landscape. Can technology companies, which face obsolescence cycles measured in years rather than decades, apply these principles? The answer may lie in distinguishing between business models and underlying values. A company might need to completely reinvent its products multiple times over a century, but maintain consistent values around customer service, employee development, and community engagement. The challenge for modern leaders is building organizations flexible enough to adapt to market changes while maintaining the core principles that create stability.

The Cultural Shift Required

Ultimately, building an enduring company requires a cultural shift that runs counter to many modern business trends. It means valuing stability over rapid growth, developing deep institutional knowledge over hiring external talent, and making decisions that may not pay off for decades. In an economy where the average lifespan of S&P 500 companies has dropped from 67 years in the 1920s to under 15 years today, Becker’s research serves as both a warning and a roadmap. The companies that break this trend and join the “century club” will likely be those that consciously reject short-termism in favor of building something truly lasting.