From Vision to Venture Discover the essential strategies for turning an idea into a thriving entrepreneurial journey
By Entrepreneur UK Staff Edited by Patricia Cullen
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Transforming an idea into a thriving business takes vision and strategic execution. Kelvin Properties, an award-winning developer based in Glasgow's West End, has mastered this formula, turning inspiration into successful, community-enhancing projects. With the right approach, what begins as a concept can evolve into a flourishing venture that stands the test of time.
Entrepreneur UK talks to owner Stephen McKechnie to find out more.
What inspired you to start your business?
I was a landlord with a significant rental portfolio when I saw an opportunity during the 2008 credit crunch. The property market was highly affected, and many developers faced liquidity issues, leading some to exit. Recognising a gap in the market, I ventured into property development. The idea of transforming underutilised sites into thriving residential communities was exciting to me as it still is today.
What was your biggest challenge and how did you overcome it?
The toughest challenge was when our business was transferred to the Royal Bank of Scotland's GRG group, which had a reputation for highly damaging treatment of SMEs. It was a four-year battle where survival was uncertain. We entered GRG seeking support but faced attempts to strip our assets instead. The only way through was resilience, strategic thinking, and sheer determination to keep our business afloat. Emerging from that period with our business intact was a significant victory.
How did you secure your initial funding?
Starting out, my funding came from the earnings and savings generated from my rental portfolio. Additionally, leveraging relationships built over time with financial institutions provided initial backing. The strategic shift from landlord to developer required balancing risk with careful financial planning, especially during a period when liquidity was hard to come by.
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How do you handle failure or setbacks?
Failure is a learning opportunity. Over the years, I've learned that it's crucial to remain adaptable. Setbacks are inevitable in this industry, whether due to market conditions, planning delays, or unexpected construction issues. Facing each setback with an open mind and looking for solutions rather than dwelling on problems has been key.
What advice would you give to someone starting their own business?
Be patient and don't rush growth. Many businesses make the mistake of expanding too quickly, which can lead to problems. Focus on doing things well rather than trying to do too much. It's also important to remain adaptable and learn from both successes and failures. Building a strong, experienced team around you can make all the difference when navigating complex processes like planning and development.
How do you stay motivated during tough times?
I stay motivated by keeping an eye on the long-term vision. It's easy to get caught up in day-to-day struggles, but remembering why I started – transforming neglected sites into homes that people love – keeps me going. Also, seeing the tangible impact of our work on communities and hearing positive feedback from buyers is incredibly motivating. Just last week I visited our new show home at The Old Schoolhouse, a new development we've been working on in Glasgow's West End. It was incredible seeing the progress the team have made on our latest project to sensitively restore a Victorian school, and how we've been able to restore many of the key period features, including its central atrium and grand staircase, for people to enjoy for years to come. We also have our very first development in Edinburgh, 67 St. Bernard's which we've just released final plots for sale including four fantastic penthouses to happy buyers.
Share your tips for achieving success.
Success comes from a blend of patience, adaptability, and attention to quality. Don't be afraid to embrace change and learn from your experiences. Build relationships with people you trust, and invest in a team that shares your vision. Ultimately, success is about creating value not just for your business, but for the people who use and benefit from what you create.
