Nancy Richards started First Preston Management in 1988 with her life savings. She was featured as a “Supporter of Entrepreneurship” at the Ernest and Young Entrepreneur of the Year Awards in CA last week for her work in encouraging and mentoring over 2,000 entrepreneurial suppliers to her firm.
First Preston uses independent companies to inspect, appraise, maintain, value, list and market its portfolios of buildings in 24 states. The company has mentored and encouraged these entrepreneurial companies, developing its own software program called HomeTracker, to assist in the management of its work.
Richards has grown her business into a firm that handles a real estate portfolio of more than $13 billion for corporate and government clients. And she has done it fully utilizing a team of entrepreneurial companies. How many other businesses could be built upon such a model?