Coaching the Group CEO of the British Enterprise Fund

Client: Steven Waud, Group Chief Executive – British Enterprise Fund

Context:

Steven Waud, the Group CEO of the British Enterprise Fund, had already overseen massive growth under his stewardship, positioning the organisation as a key financial player supporting businesses across the UK. However, with an even more ambitious expansion plan on the horizon, new challenges arose. Balancing the diverse priorities of key stakeholders—ranging from government bodies and investors to the businesses receiving funding—was becoming increasingly complex. Additionally, the internal team, though highly skilled, was not fully aligned to effectively deliver on these ambitious goals. Recognising the need for external insight, Steven sought out my coaching services to help sharpen his leadership approach and ensure the team’s focus on the organisation’s next phase of growth.

Objectives:

• Aligning the Leadership Team: Steven wanted to bring his team onto the same page, ensuring every member understood and bought into the ambitious growth objectives.
• Balancing Stakeholder Expectations: Given the complexity of the stakeholder landscape, he needed a strategy to effectively manage varying and often competing interests, while maintaining the organisation’s momentum.
• Accountability for Execution: There was a pressing need to create a culture of ownership and accountability, driving the team towards decisive action and results.

Approach:

1. Leadership Alignment: Our first priority was to get the leadership team aligned around a unified vision. I conducted facilitated planning sessions where the leadership team was encouraged to articulate the Fund’s long-term goals and the specific milestones required to achieve them. These sessions helped crystallise the key priorities and assigned clear responsibilities to each leader, ensuring no ambiguity in their roles.

One of the most valuable exercises was mapping out the team’s interdependencies, clarifying how each division’s work impacted the overall objectives. This broke down silos and established a stronger sense of collaboration.

2. Managing Stakeholder Priorities: To balance stakeholder expectations, I worked closely with Steven to prioritise and categorise each stakeholder group based on their influence and interest in the Fund’s goals. We developed a communication strategy for each group, ensuring consistent and tailored messaging. This strategic communication not only helped manage expectations but also garnered stronger support from key players.

Steven also realised that it wasn’t just about keeping stakeholders satisfied, but about actively engaging them as partners in the growth journey. Together, we created engagement plans that went beyond status updates—initiating collaborative sessions with stakeholders to co-create solutions, building deeper trust and buy-in.

3. Building Accountability within the Team: To ensure that the ambitious growth plan moved from theory to execution, we instituted a robust system of accountability. I introduced a ‘Mission-Focused Leadership’ approach, where team members were empowered but also held accountable for their respective areas. Weekly reviews, clear metrics for success, and open forums for feedback created a more transparent, results-driven environment.

Steven’s leadership style also shifted during this time. He became more focused on performance management—giving praise where due but also addressing issues quickly and constructively. This sharpened focus allowed his team to act with greater urgency, ensuring that the organisation hit critical milestones on time.

Results:

• Stronger Team Alignment: The leadership team became far more cohesive, working in unison towards the organisation’s ambitious goals. Through clearer communication and collaboration, they avoided pitfalls that often arise in fast-growing enterprises.
• Stakeholder Engagement: Stakeholder management evolved from being reactive to proactive. The Fund was now seen as a transparent and collaborative partner by government entities, investors, and supported businesses alike. This helped secure further funding and political support for future growth.
• Accountability Culture: The team became more action-oriented, with each leader owning their part of the plan. Regular progress reviews and a focus on key performance indicators ensured that the organisation stayed on track, even when challenges arose.

Testimonial:

“It has been a real pleasure first of all meeting Trevor and secondly engaging and working with him. For an ex-military man he is surprisingly empathetic and perceptive. He is also practical and down to earth and seems to be able to get to the nub of an issue pretty quickly. He doesn’t let you off either, you have to show engagement and action and he will hold you to account. If you can persuade him to coach you, and he is selective, then you have done yourself and your business a favour.”
– Steven Waud, Group Chief Executive, British Enterprise Fund

---

This engagement not only helped Steven and his team align more effectively, but also provided them with a solid framework for executing their ambitious growth plans.