Scaling a Family Business While Maintaining Founding Values
Family Business Success: Johnson Security Bureau
Building on Legacy
Johnson Security Bureau, a third-generation, family-owned business, has thrived for over 60 years. Led by Jessica Johnson-Cope, the company has expanded beyond its physical security roots to include cybersecurity.
"It's a welcome challenge to carry the legacy of my grandparents... Every day I'm witnessing what happens when families stick together, see opportunity, put in the work," Johnson-Cope says.
Strategic Choices
Johnson-Cope faces decisions about scaling her business: expanding within New York City, geographic expansion, or entering cybersecurity. Students in Henry McGee's course, "Scaling Minority Businesses," debate these options.
McGee emphasizes the importance of finding a potential partner that shares the company's values. "It would be a disaster if she found out that she's bought a company that that isn't run the way that she wants it to run," he says.
Cybersecurity Expansion
Johnson-Cope's decision to move into cybersecurity is driven by the growing threats and the recognition that physical guard services alone cannot secure businesses in the future.
"My advisors on the corporate side always talk about the next big security emergency is not going to be a physical one, it's going to be a cyber one. And so wanting to position the company for success, wanting to be able to provide my customers with the services that they need and to support the longevity of their security programs," she explains.
Resilience and Growth
During the COVID-19 pandemic, Johnson Security Bureau remained in demand due to its essential services status. This allowed the company to keep employees working and increase its business by almost doubling from 2020 to 2021.
Johnson-Cope credits the company's success to its focus on market analysis, risk-taking, and understanding its purpose: "We have to find a focus. We can't be everything to everyone."
Legacy and the Fourth Generation
Looking ahead, Johnson-Cope plans to focus on physical security in growing industries and maintain strong strategic relationships. She also prioritizes succession planning, envisioning a future for the business beyond her leadership.
"I have a 13-year-old and a three-year-old niece. The three-year-old... she knows she has to make good choices because that's what mini bosses do," she says.
McGee's Takeaway
McGee emphasizes the importance of a leader with a strong sense of purpose and a commitment to both profit and social responsibility.