Unlocking Value – Details, episodes & analysis

In this episode of the Unlocking Value podcast, John Howard speaks with Rhys Hefford, a serial founder who has built, scaled and sold multiple professional services businesses over the past fifteen years.

Rhys has launched six firms and successfully exited two, typically taking each from start-up to around £2 million+ in EBITDA before handing over to new leadership teams. His experience gives him a unique view of how to build, scale, exit and start again without losing sight of the life you want to lead.

Together, John and Rhys explore what drives repeat founders, how to design a business that fits your personal goals, and how to know when it is time to step aside and let others take it further. They discuss succession planning, bringing in new leaders, the realities of early-stage growth and why self-awareness is as critical as ambition when building lasting value.

Key discussion points include:

• What keeps a serial founder coming back to build again
• How to align business design with personal purpose and family life
• Recognising when the business needs new leadership
• Building value in the early stages and focusing on what really moves the needle
• The discipline of narrowing focus and avoiding over-analysis
• How to prepare a team and structure for a successful exit

For founders and leaders in professional services, this is an honest, reflective conversation about building multiple multi-million-pound businesses, creating space for others to lead and finding a way to scale without burning out.

Host: John Howard, Partner at Garwood Growth
Guest: Rhys Hefford, Serial Founder 

In this episode of the Unlocking Value podcast, John Howard speaks with Marcus Eden-Ellis, the founder and chief executive of Bid Perfect, a specialist consultancy that helps organisations compete, persuade, and win.

Marcus spent decades in senior sales roles before launching his own firm in 2006. Nearly twenty years later, his team has supported more than 900 companies across the UK, Europe and the US, training their people to sell more effectively and build sustainable growth through better bids.

In this conversation, Marcus shares what he has learned about transforming sales from a personality-led exercise into a measurable, teachable discipline. He also explains why the best firms treat every bid as a reflection of how they think, operate and build trust.

Key discussion points include:

• How to identify winning opportunities before investing in a bid.
  
  
• The value of structure, training and feedback in creating a high-performing sales culture.
  
  
• Why the most successful proposals focus on measurable client outcomes.
  
  
• How AI is changing the mechanics of bid writing without replacing human tone or judgment.
  
  
• What happens when leaders see persuasion as a strategic capability, not a task.
  
  
• Why long-term partnerships, not quick wins, are the foundation of real business value.
  
  

For professional services leaders, this episode offers a clear, experience-led view on how to systemise success, strengthen credibility and create teams that know how to win.

This episode is available to stream below or on any of your usual podcast platforms (such as Spotify and Apple Podcasts).

Host: John Howard, Partner at Garwood Growth
Guest: Marcus Eden-Ellis, Founding Director at Bid Perfect

In this episode, we look at how investors and advisors assess a business – and what can spook them.

We’re joined by an investor, a corporate lawyer and a corporate finance advisor to talk about what builds confidence during a transaction – and what can cause it to break down. From messy data and vague narratives to unexpected risks that emerge late in the process, they share what buyers really watch for and what separates strong deals from aborted ones.

If you want a clearer picture of how buyers think and how to avoid common pitfalls, this episode will give you a practical inside view.

Want to learn more about how investment transactions work in professional services? Download Garwood Growth’s free Unlocking Value book. It’s your step-by-step guide to what’s involved and what you should consider, whether you're thinking about selling, getting ready for external investment or just exploring your options. 

Guest List

Host: John Howard, Partner at Garwood Growth
Guest: Alex Thomson, Partner at Growth Capital Partners
Guest: Frank Shephard, Partner and Global Head of Corporate at DWF
Guest: Paul Lines, Partner at Garwood Growth

www.garwoodgrowth.com

In this episode, we ask a deceptively simple question: what actually makes a business valuable?

Host John Howard is joined by a founder, an investor and an advisor to explore what really drives high valuations in professional services. They talk about the importance of revenue quality, market positioning and delivery maturity – and why investors care just as much about what’s ahead as what’s already been built. Along the way, the guests share real-world examples of how they’ve made their businesses more attractive by focusing on the things that genuinely create value.

If you want to understand what buyers are really looking for – and how to build a business that stands out – this episode is for you.

Want to learn more about how investment transactions work in professional services? Download Garwood Growth’s free Unlocking Value book. It’s your step-by-step guide to what’s involved and what you should consider, whether you're thinking about selling, getting ready for external investment or just exploring your options. 

Guest List

Host: John Howard, Partner at Garwood Growth
Guest: Minos Ataliotis, Founder and CEO at CloudRock
Guest: Emma Flin, Investment Director at Sovereign Capital Partners
Guest: Rob Garner, Founding Partner at Garwood Growth

 www.garwoodgrowth.com

In this episode, we explore one of the biggest hidden success factors in any deal: alignment between shareholders.

We’re joined by four founders who’ve lived through the challenge of keeping ambitions, personalities and timelines aligned as their businesses evolved – and as the prospect of a transaction came into view. They share honest, practical advice about how to navigate the hard conversations, balance head and heart, and keep your culture intact without derailing the deal.

This episode is full of valuable insight for anyone leading a firm with multiple owners or thinking about what it takes to get ready for a transaction – together.

Want to learn more about how investment transactions work in professional services? Download Garwood Growth’s free Unlocking Value book. It’s your step-by-step guide to what’s involved and what you should consider, whether you're thinking about selling, getting ready for external investment or just exploring your options. 

Guest List 

Host: John Howard, Partner at Garwood Growth
Guest: Gita Singham-Willis (Co-founders of Cadence Innova)
Guest: Jane Barrett (Co-founders of Cadence Innova)
Guest: Neil Sharp (Co-founders of PEN Partnership)
Guest: Richard Vale (Co-founders of PEN Partnership)

www.garwoodgrowth.com

In this opening episode of the Unlocking Value podcast, we go right back to the first big question founders face: should we even do a deal? Host John Howard is joined by four guests with direct experience of weighing up whether to sell, take on investment or stay the course. They talk candidly about what led them to consider a transaction, how they judged the right time, what kind of deal felt right – and what they’ve learned along the way. 

This episode is packed with real-world insight for anyone starting to think about what a deal might mean and whether it’s the right move at all.

Want to learn more about how investment transactions work in professional services? Download Garwood Growth’s free Unlocking Value book. It’s your step-by-step guide to what’s involved and what you should consider, whether you're thinking about selling, getting ready for external investment or just exploring your options. 

Guest List:

Host: John Howard, Partner at Garwood Growth
Guest: Marc Schmid (Co-founder and director at Redmoor Health)
Guest: Alison Schmid (Co-founder and director at Redmoor Health)
Guest: Mat Oram (CEO and Co-founder at AdviseInc)
Guest: Rob Garner (Founder and Partner at Garwood Growth)

www.garwoodgrowth.com

In this episode of the Unlocking Value podcast, John Howard speaks with Adam Craker, Chief Executive of iqbusiness, one of South Africa’s leading consulting and digital integration firms.

Adam has led iqbusiness for more than 15 years, guiding the firm through three distinct chapters: angel investor-backed growth, private equity ownership, and its current position within a listed corporate group. Throughout that journey, he has built a culture that blends high performance with purpose and personality. Central to that is GESHIDO, the trademarked spirit of Getting Sh*t Done.

Together, Adam and John explore what it takes to lead through long-term change. They discuss the shifting expectations that come with different ownership models, the realities of keeping teams motivated through volatility, and the power of humour, partnership and purpose in building a firm designed to endure.

For leaders in professional services, this is a practical and reflective conversation about scaling with intent, staying agile under pressure, and building a business that does more than last. It makes a difference.

Host: John Howard, Partner at Garwood Growth
Guest: Adam Craker, Chief Executive at iqbusiness

In this episode of the Unlocking Value podcast, we welcome Jon Grant, Tech M&A Director at Clearwater, one of Europe’s leading corporate finance firms. 

Jon is one of the UK’s most experienced advisors on technology and consulting deals and works closely with founders and leadership teams to help them build, grow and realise value in their businesses. Over his career, Jon has advised on some of the sector’s most high-profile transactions, including the sale of Infinity Works to Accenture, Growth Capital Partners’ investment in Hippo Digital, and the sale of Oakland Partners to Softcat. That track record gives him a clear and practical perspective on what really drives value in professional services and what buyers and investors are looking for today.

For leaders thinking about investment or exit, there are many challenges to grapple with:  understanding what acquirers actually value, deciding how to position the business, and making sure their firm is not just ready to sell but is also ready to be bought. Together, Jon and John explore the changing M&A landscape, what kinds of businesses command premium valuations and how founders can prepare.

Key discussion points include:

• How the market has changed since 2020 and how that has affected valuations
• The fundamentals that still drive value in professional services
• Why things like sector focus and alignment with major technology ecosystems can increase resilience
• Managing customer concentration and reducing risk before a sale
• The importance of leadership alignment and complete management teams
• The differences between trade buyers and private equity
• What getting ready to be bought really means
• How and when to start conversations with investors

For founders and leaders in professional services, this is a practical, candid view of what drives value today and how to prepare your firm to thrive, whether you plan to sell or simply want to build a more resilient and valuable consultancy.

Host: John Howard, Partner at Garwood - Growth
Guest: Jon Grant, Tech M&A Director - Clearwater

In this episode of the Unlocking Value podcast, John Howard speaks with Andy Strickland, Partner at Palatine Private Equity.

Andy has spent more than a decade backing ambitious Professional Services founders and management teams, often at the point where external investment is being considered for the first time. He shares Palatine’s philosophy of Positive Equity, an approach that focuses on partnership, sustainability and people-led growth.

Together, John and Andy talk about what private equity really means for leaders in professional services. They explore how the right investment partner can help firms grow responsibly, strengthen culture and create long-term value.

Key discussion points include:

• What Private Equity looks like in practice and what it means for founders
• How Palatine’s value-enhancement approach supports sustainable growth
• Why integration and culture are central to successful buy-and-build strategies
• The real sources of private-equity capital and its wider economic impact
• The questions founders should ask before choosing an investment partner

For founders and leaders in professional services, this is a clear and practical conversation that removes the uncertainty around private equity and shows how investment – done the right way – can unlock lasting value for people, businesses and communities.

Host: John Howard, Partner at Garwood Growth

Guest: Andy Strickland, Partner at Palatine Private Equity.

In this episode of the Unlocking Value podcast, John Howard speaks with leadership coach and former consultancy partner Richard Jones about one of the hardest things to get right in professional services: senior leadership transitions.

On paper, it sounds simple: bring in a talented new leader to help the business grow. In reality, it’s far more complex.

Richard and John talk about why these moments are so high-stakes and why more than half of senior hires fail within 18 months. They explore the messy web of explicit and implicit expectations, the challenges of navigating strong internal cultures in mid-sized firms, and the paradox of hiring for difference while instinctively resisting it.

Richard draws on years of research and first-hand experience to reveal what makes transitions succeed. He explains why leadership changes must be treated as a team game, how to build a safe environment for new leaders, and why maintaining high standards matters most when everything feels uncertain.

The conversation covers:

• The impact of complex, unspoken expectations on both sides of a hire
• The paradox of seeking difference while resisting change
• How mid-sized firms can prepare their culture for new leadership
• Why successful transitions are a team effort, not a solo challenge
• How leaders can create psychological safety without lowering the bar
  
  

For leaders navigating growth, or anyone responsible for bringing senior talent into their firm, this episode offers a candid look at the complexity of transitions and how, with the right mindset and preparation, they can become moments of real progress.

Host: John Howard, Partner at Garwood Growth

Guest: Richard Jones, Board Advisor at OLIA