This article is written by Clyde McClure, founder of Unit Management, a family-run property management company.

Running a family business in London for 50 years has been an incredible journey, full of unique challenges and rewards. Since only 2000, for example, the total business population has increased by 60%. So as you can imagine, we’ve learned some important lessons that have helped us navigate the ups and downs of maintaining and growing our business in this vibrant area. Today, I want to share the five secrets to our success, the five key learnings that have allowed our business to thrive for so long. 

1. Adapt to a Dynamic Environment

South London is an exciting and constantly evolving area, mirroring the flexible workspace sector we operate in. In order to succeed, we had to stay atop the rapid changes in both the local community and our industry. We’ve had to be proactive; keeping our fingers on the pulse and reacting to emerging trends, responding to shifting customer needs, and continually refining our offering. 

2. Navigate Change Carefully 

Introducing and managing change can be particularly challenging for a business with deep-rooted traditions. As a family business, there’s often a strong adherence to how things have always been done. However, we’ve discovered that educating our team, including both family and non-family members, about the advantages of new systems and processes can help generate enthusiasm for change. By effectively communicating the benefits, we’ve been able to enhance our coordination and efficiency, demonstrating that embracing change can lead to greater success. 

3.  Improve Operational Leverage

We’ve been focusing on enhancing our management team’s efficiency, which has made it easier to expand into new sites across Southeast London. This can be further broken down into parts:

• Team Skill Set and Culture: Building a team with the right skills and fostering a supportive culture is crucial. We emphasize collaboration and clear roles, ensuring everyone, whether family or non-family, contributes effectively.
• Technology and Systems: Adopting cutting-edge technology and robust systems has transformed our operations. These tools streamline processes, enhance data management, and provide the insights needed to drive growth in a fast-paced city like London.
• Processes: Implementing clear, well-defined processes ensures consistency and efficiency. This structure helps us maintain high standards and seamlessly manage our day-to-day activities across our London sites.

4. Foster a Non-Hierarchical Culture

Creating a non-hierarchical culture has been instrumental. This approach ensures that every team member feels valued and is treated fairly, which is crucial in a family-run business. This also helps us build a more dynamic and innovative workplace that reflects the diverse and vibrant spirit of our local community here in London.

5. Focus on Sustainable Growth

Sustainable growth is about more than just expanding our operations; it’s about building a resilient and adaptable business model. For us, this has meant investing in our team, technology, and processes. By focusing on these areas, we’ve been able to scale our operations effectively across London while maintaining the core values and culture that have been the foundation of our business for the past 50 years.