Temple building business finished after 1,400 years

Kongo Gumi had to shut down his family business in 2006 after a 1,400 year run. Amazingly, the construction company operated continuously since his descendants began building Buddhist temples in 578.

End of a 1,400-Year-Old Business, James Olan Hutcheson Business Week April 16, 2007

“To sum up the lessons of Kongo Gumi’s long tenure and ultimate failure: Pick a stable industry and create flexible succession policies. To avoid a similar demise, evolve as business conditions require, but don’t get carried away with temporary enthusiasms and sacrifice financial stability for what looks like an opportunity.”

Posted by: Chris Z

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