Scaling a Family Business While Maintaining Founding Values
HBS senior lecturer Henry McGee and CEO Jessica Johnson-Cope discuss building multigenerational success.
## Johnson Security Bureau: An Intergenerational Legacy of Excellence### IntroductionIn today's episode, we delve into the inspiring story of Jessica Johnson-Cope and her family-owned business, Johnson Security Bureau. As the third-generation leader, Jessica has guided her company through changing markets and emerging technologies, all while upholding the values instilled by her grandparents.### The Legacy of ValuesJessica's grandparents, originally from Alabama, migrated to New York seeking opportunity. They saw entrepreneurship as a path to empower themselves and their community. Inspired by their vision, Jessica vowed to carry their legacy by creating jobs, fostering opportunity, and making a positive impact on her neighborhood.### Scaling and GrowthJohnson Security Bureau is a security services provider that has evolved significantly under Jessica's leadership. She recognized the need for diversification and expansion beyond the traditional physical security market. By partnering with corporations and government entities, Jessica has been able to secure new contracts and increase her service offerings. Additionally, she has expanded geographically, providing security services throughout New York City and beyond.### Embracing InnovationIn recent years, Jessica has identified cybersecurity as an emerging opportunity. She understands the importance of leveraging technology to meet the changing needs of clients and stay competitive. Johnson Security Bureau has partnered with other businesses and experts to develop new cybersecurity services, ensuring that they remain relevant in the evolving security landscape.### Exceptional LeadershipJessica attributes her success to her unique leadership style. She describes it as a combination of both inspiration and forcefulness. Her ability to motivate and inspire her team while simultaneously holding them accountable for results has fostered a high-performing culture. She also credits her intuitive engineering background, which has aided her in understanding the importance of technology and innovation.### Challenges and ResilienceJessica has not been immune to challenges in her entrepreneurial journey. Particularly during the COVID-19 pandemic, she faced uncertainty and economic downturn. However, her commitment to her employees and clients allowed her to weather the storm. She kept her team employed and scaled up her services to meet the increased demand for security in healthcare and transportation sectors.### Succession PlanningJessica emphasizes the importance of succession planning as she looks towards the future. She acknowledges that she is the only person who "has to die" at her company, and she aims to foster an environment where future generations can thrive and continue the legacy of Johnson Security Bureau.### TakeawaysHenry McGee, a professor who teaches the Johnson Security Bureau case at Harvard Business School, concludes the discussion by highlighting the key takeaways for aspiring entrepreneurs. He emphasizes the importance of understanding market trends, embracing risk, and having a clear purpose for your business. Jessica's story serves as a testament to the power of strong values, adaptive leadership, and the enduring legacy of a family-owned enterprise.