What does it mean to mark a decade of business success? 10-year milestones are worth celebrating for many reasons, but as a business anniversary, they are especially worthy of commemoration.

Reaching a decade in business means a company is on track to continue defying the odds. It’s indicative of successful practices, prudent choices, and an effective role in a marketplace.

Celebrating that is not only an excellent reason to continue to build that success with some marketing and brand-building, which is shown in these press release examples, it’s a chance to refresh, reflect, and get ready to progress toward the next triumph.

What A Decade In Business Milestone Actually Means

Beyond the passing of time, what does a decade in business mean? Regardless of the industry, there are some consistent factors related to reaching 10 years in business that are worth a closer look.

The Market Has Responded

Market trends come and go, but anything that lasts a decade means there’s some degree of consistency. When it comes to serving customers, 10 years in business shows that there is a solid need for whatever your company provides.

That’s important to recognize as it means there is potential to continue meeting the needs of that market. Rising to meet these demands will amount to growth and recognition as a trusted authority within it.

Your Team Is Capable And Resilient

A company that can offer solutions and continues to deliver them year after year is made of individuals who work together to make that happen. Even consistent offerings in predictable markets require adaptability and responsiveness to provide. If a team of professionals can do this for a decade, that’s emblematic of being capable and resilient, and that’s worth recognizing.

You’ve Surpassed Competitors

According to data from the U.S. Census Bureau, over half of small businesses are under 10 years old. And per the U.S. Bureau of Labor Statistics, almost 50 percent of businesses will not survive past the five-year mark.

This means that many of your competitors did not and will not reach the milestone your company is celebrating. It also means that there is something your organization can do or offer that isn’t easily imitated.

Your Customers Are Loyal

It’s highly unlikely that every customer your company has served over 10 years is a first-time customer. A decade in business means that buyers have probably been returning to your company every time they need what your offer.

It also means that those customers have been recommending your organization to their fellow buyers who are in the same market and have similar needs. This amounts to a positive reputation and trust where it counts the most.

Reflecting On Lessons Learned

10 years in business is an important point to stop and reflect. Even companies with excellent track records have made some mistakes along the way. Before leaving these in the past and focusing on what lies ahead, it’s useful to look back on lessons learned.

Companies that have an eye toward growth will not shy away from examining past mistakes. Missteps and failures serve as valuable learning opportunities. They reveal what should be avoided and how recoveries can be made when things don’t work out as expected.

Reflecting on these mistakes with partners and employees within an organization is valuable for boosting morale, building a sense of camaraderie, and reinforcing the resilience of the company. Looking at where a company has been and what it’s surpassed will be very powerful for defining where it’s going, and often more so than only highlighting what’s worked out.

Looking Forward To The Next 10 Years

A decade of sustained growth can provide a roadmap for continued growth, but your organization must continue to look forward. Treating 10 years in business as a new beginning is an effective way to maintain a growth mindset and prevent stagnation that leads to decline.

As you think about where your company will go now that it’s reached this important business milestone, confronting the following questions may inspire new ideas.

How has your organization lived up to its original mission statement or core values over 10 years? How can you apply these central values to new ventures?

Who haven’t you served yet and what markets could benefit from the solutions and experience you offer? How will you bring your proven approach to new frontiers?

How will you improve on successes you’ve achieved and what new risks are you willing to take on to seek out new gains?

FAQs

Why is 10 years in business an important milestone?

A decade in business means that a company is well-established and it has reached the much-sought-after balance of growth and consistency that almost half of all businesses never reach.

What percentage of companies last 10 years?

The average longevity of companies varies by industry, but according to data from the U.S. Bureau of Labor Statistics, just over 65 percent of businesses fail after 10 years.

What is the average lifespan of a business?

According to McKinsey Global Institute, the average longevity of companies that are listed in Standard & Poor’s 500 is under 18 years. This is a steep decline from the average 61-year lifespan of companies in 1958.

Making The Most Of A Decade In Business

What should you do to mark 10 years of business success? Turn it into an opportunity to leverage to this occasion and fortify the strengths that helped your organization get this far.

Celebrate With Your Team

A decade of success in business is worthy of celebration by the people who made it possible. Whether it’s through a company party or employee bonuses, the commemoration of the milestone can be unique as your organization, but celebrating is a great way to strengthen a sense of teamwork and reward efforts that boost confidence, energy, and motivation for future success.

Thank Your Customers, Industry, And Your Community

No matter how innovative, well-run, and talent-packed a business may be, it cannot function as a company unless it has customers. A decade in business is a chance to reach out to the customers who made it possible. This can be as simple as extending a statement of thanks in an email blast or offering a discount or other incentive, which can drive even more sales and growth.

Tell Your Marketplace About The Milestone

Make sure you spread the news about the milestone to your marketplace. A decade in business is a way to broadcast your company’s stability and value, but it’s also a way to highlight the capabilities and solutions that made the milestone possible. This can capture the attention of buyers who are looking for a company like yours and may only be learning about it for the first time.

There are many ways to do this, including on social media, industry podcasts, local news, and through other PR avenues. Browse these press release examples to see how you can turn a company achievement into a useful message for prospective customers.