GrowthAccelerator and tutor2u - the result

I wrote a couple of months ago that the tutor2u team had just begun the process of developing a new strategy for growth as part of the UK Government's GrowthAccelerator programme. GrowthAccelerator provides specialist advice for high-growth businesses (defined as those growing at more than 20% p.a.) with the aim of helping them accelerate their growth through better strategic planning, access to finance and other resources. We started Phase One of the GrowthAccelerator process in August 2012 and we've just completed the process - with some pretty startling results!

I have to say upfront - I think we've been fortunate to have been given such a good coach as part of the GrowthAccelerator process. Keith Stearman from strategic consultancy SPS has led the discussions and he has proved invaluable. Keith has balanced the need to be empathetic to our existing organisation and culture with the need to challenge the way we do things and open our minds to a broader range of opportunities. Keith very quickly gained an understanding of our market and our existing "freemium" proposition. In short, Keith "gets" tutor2u.

The process has been both fascinating and tough. Geoff and I (as 50% shareholders in tutor2u) have been challenged to think carefully about what we want the tutor2u business to achieve and what we want from the business in the future.

A key question which has shaped the discussion, analysis and decision-making process has been "what does success look like" in 2-3 years time? We've already built a business based around an engaged, loyal teacher and student community. With over 30 million website visitors this year, tutor2u has turned into something much larger than we ever imagined it might when we began.

However, our view is that there is much more growth potential in tutor2u, particularly if we invest significantly in the team, improve the online platform, invest in the resource base and develop a broader range of partnerships.

We have explored tutor2u's existing positioning in the market, the potential to expand into related and new markets (perfect Ansoff material) and the issues that need to be addressed in order to make that growth a reality. We have looked at the organisational structure of the business, the existing partnerships we've established and how these might be extended. In fact, we've looked at every aspect of the business. No stone left unturned!

The discussion and analysis has brought much greater clarity to our thinking. It has also acted as a catalyst for change.

Interestingly, as each week has passed, we've taken immediate steps to follow-up on Keith's suggestions.

For example, as a direct result of discussions around organisational structure, we made three important, permanent appointments to the team, each of whom brings a significant amount to the business and the growth strategy.

In just 8 weeks, we've doubled the number of people employed in the business. However, in my view this is no reckless gamble. The new positions enable tutor2u to deliver a much broader range of resources and services. Geoff and I are thrilled with the new members of the team - who regular readers of our blogs and attendees at our events will know well!

We've also moved fast to build new partnerships. News of these developments will follow shortly, but suffice it to say that we are very excited about the next few months!

So, looking back, has the GrowthAccelerator process been worthwhile?

Absolutely! It has acted as the catalyst to get the business moving forward in a more structured way. In just a few short weeks we've grown the team and the opportunities for new resources, subjects and other partnerships seem to be flowing in strongly. In a very tough market, we feel more confident than ever about the future, recognising that there is a huge amount of work to be done to achieve the objectives set out in our new strategic plan.

If I have one concern about GrowthAccelerator, though, it would be this. What happens next? Is there a Phase Two?

We're still a relatively small business and the amount of support provided by the GrowthAccelerator programme is strictly limited for businesses of our size (measured by turnover & employees). What we will really need is more help to turn the growth strategy into a sustainable reality - the worry is that we might have to take that journey alone. Something for Geoff and I to think carefully about. Maybe I need to call Keith...