It helped us navigate a new acquisition
Lizzie Williams, Group Managing Director at Team Factors and Apollo, shares how transformational the Help to Grow: Management programme was for her organisation
Tell me about your business
Team Factors is a factoring business founded in 2010 and independently owned, based in Apsley, Hertfordshire. We support start-ups and mid-sized businesses with cash flow, differentiating ourselves with exceptional customer service and a single point of contact approach. With our focus on building strong client relationships, we have remarkable client retention rates.
What were the key challenges you were facing before joining the Help to Grow programme?
The company was grappling with growth aspirations but lacked clarity on how to achieve them. A major shift had occurred when a private investor acquired the business, transforming its focus from a lifestyle setup to a growth-oriented operation. This change in dynamic prompted the management team to explore ways to support the shareholders’ ambitions effectively.
I knew my knowledge was primarily shaped by my experience within the business, and the need for a wider perspective and structured approach to growth became evident.
What made you join the Help to Grow: Management programme?
Our Commercial Director, Dean McGarry, had already started the programme at the University of Leicester and could see the potential benefits, even before completion. He recommended I also look into it, knowing it was available at the University of Hertfordshire as well. I chose the programme due to its intense nature, and the breadth of content which I knew would open my eyes to a whole new world of business. The convenient proximity of the University of Hertfordshire alongside the affordability and promise of valuable insights made the decision a straightforward one.
What were your key learnings and how did you apply them?
The programme provided a deep dive into all aspects of business growth which was exactly what we needed as a management team, and I continue to revisit different topics as and when they become relevant again.
The first of my key learnings was around the importance of defining our mission, vision, and values - something the company lacked previously. This exercise was transformative, enabling our management team to articulate clear objectives and align the team effectively. This was one of the learning points I acted on straight away.
I also found the marketing module particularly engaging, especially given our focus on growth. The discussions around understanding the customer journey were particularly helpful. As well as providing new insights, it also helped solidify the knowledge in what we were doing well!
Having a mentor was definitely one of the best things about the programme. My mentor’s advice helped us with exploring new strategies and providing actionable insights following the learnings from the workshops. This was backed up by in-class discussions which offered practical ideas and reassured me that many challenges were shared across industries.
Any personal learnings?
A lot of the immediate learnings were very personal, and the mentoring relationship was instrumental in my growth, helped by their flexibility in approaching the sessions. My mentor significantly boosted my confidence, enabling me to approach leadership with more assurance.
It was also reassuring to know that many of the practices I was already implementing aligned with established business theories, despite my lack of theoretical knowledge, which further strengthened my confidence.
Engaging with peers during face-to-face sessions underscored the fact that challenges we were faced with were entirely normal and it was good to hear and discuss those issues.
And what has been the result for your business?
The business has achieved remarkable milestones post-programme completion. Acquiring another company in February 2024 was a pivotal achievement, enabled by the work we did during and after the programme. We have been able to embed our new values into the acquisition as well.
Between organic growth and the acquisition, we have expanded our workforce from 12 to over 50 employees across two offices - one in Manchester - while nearly tripling our client base to over 600 businesses.
Turnover has increased significantly, accompanied by a rise in profits. Substantial reinvestment in personnel is expected to yield even greater returns in the coming years, and we have improved the overall structure of the business to make us more resilient.
I believe the structured planning, sustainable growth strategies, and adoption of mission, vision, and values are key contributors to this success. Attending the Help to Grow: Management programme was the first part of our growth journey and was a key step in getting us to where we are today.
What would you say to another business considering Help to Grow?
I think it is important to seize these opportunities for valuable learning. The huge boost in my personal confidence has enable professional, personal and business growth. The ability to cement existing knowledge and acquire new ideas has been invaluable.
The positive environment created by peer discussions with others who share aspirations for growth and improvement is a huge lift. Overall, the programme provides both practical insights and inspiration, making it a worthwhile investment of time and resources.
