Businesses with staying power have stable product characteristics, a strong competitive advantage, a fragmented customer and supplier base, prudent capital allocation, a growth mind-set with a razor-sharp focus on long-term profitability and sustainability, a corporate culture of intelligent and measured risk taking, a cash-rich promoter family or parent company that can infuse capital during periods of high stress, a highly liquid balance sheet, and both the willingness and the capacity to suffer by investing for the long term at the expense of short-term earnings.
