Selling a business is never just a financial transaction. For many founders, it’s an identity shift, moving from being the person who built and drove everything, to stepping into a new role within a different organisation. It can feel both liberating and unsettling.
For Louise Wall, who has just sold e18 Innovation, the business she created from scratch, the emotions are clear: excitement, energy, and anticipation.
“My biggest feeling is that I just can’t wait to get going in the new world,” she reflects, only days after closing the deal with Digital Workforce (DWF). “It doesn’t feel like I’ve lost something. It feels like I’ve gained something.”
For Louise, the sale isn’t an ending. It’s a graduation into a bigger stage.
The Generalist’s Dilemma
Rewind to early 2023. On paper, e18 Innovation was a success story: profitable, busy, winning NHS contracts, and building a reputation. Yet Louise and her leadership team sensed something wasn’t right.
“We were trying to be too generalist,” Louise admits. “Our website and positioning were about broad digital transformation, but in reality, the majority of our work was NHS process automation.”
It’s a common trap for growing service businesses: the desire to appeal widely. e18 could deliver many digital projects, but its true strength, automation expertise tailored for the NHS, wasn’t front and centre. Meanwhile, the company was heavily reliant on reseller licence revenue and a single supplier.
“It had got us to a good point,” she explains, “but from a longevity perspective and business value, it wasn’t sustainable.”
Louise knew there was more potential. What was needed was focus, clarity, and a strategy that could build lasting value.
Reflection, Then Action
That moment of recognition spurred a period of reflection, and then decisive action. Louise enlisted the help and support of Rachel Murphy and The Grafter, alongside drawing on her own instincts and the counsel of her senior team.
“Working with The Grafter gave me a structured way to step back and challenge my assumptions,” Louise explains. “They created the space to ask the difficult questions, and that clarity gave me and the e18 team the confidence to focus on our true strengths.”
With that clarity, Louise and her leadership team took action. They reworked the proposition, refined the messaging, and reshaped operations to reflect e18’s true specialism.
“We shifted from being a generalist consultancy to saying very clearly: if you want to do automation in the NHS, we are the partner you need,” Louise recalls.
It sounds obvious in hindsight, but the decision to narrow focus was a leap of faith. By doing so, e18 brought its deepest expertise to the forefront.
A Deliberate Growth Strategy
Once the positioning was clear, another truth emerged: e18 had been pricing its services as part of a deliberate land-and-expand strategy. For years, the team had bundled in NHS expertise, funding support, and in-depth workshops at a fraction of what larger consultancies would charge, intentionally lowering barriers to entry and accelerating adoption.
“With The Grafter’s frameworks, we were able to see just how much value we were creating for the NHS,” Louise recalls. “That insight was a turning point in how we shaped our services and pricing.”
That early growth strategy helped e18 quickly build market share. But as the business matured, recognising the full value of what was on offer allowed Louise and her team to rebalance pricing and expand service lines beyond licences. Customers benefited too: greater transparency, richer service packages, and a consultancy model that better reflected the expertise on the table.
Building Independence and Trust
Another important shift came in how e18 managed its technology partnerships. As part of The Grafter’s review of the business, it became clear that relying too heavily on a single supplier limited long-term resilience and business value. Acting on that insight, Louise and her team proactively moved towards a multi-vendor model to increase independence and give clients more choice.
“We knew we needed to be vendor-agnostic,” Louise explains. “That shift repositioned us from being seen as resellers to being trusted advisors.”
By broadening partnerships and ensuring independence, e18 strengthened its resilience. Clients increasingly came to see the company not just as a supplier but as a long-term strategic partner. Combined with the NHS-focused positioning and better-valued services, this shift created a business that could stand firmly on its own.
The Knock at the Door
By late 2024, e18 was thriving. Revenues were growing, profitability was up, and the business was operating with a new clarity. Louise and her leadership team were investing in systems and AI to capture knowledge and standardise operations.
“It was about making sure nothing lived only in people’s heads or on laptops,” she explains. “We wanted a business that could scale and didn’t rely on one individual.”
Then came the unexpected knock. Digital Workforce, a long-standing partner, approached with interest in acquisition.
“We weren’t actively marketing the business, but we were always open to the right opportunity,” Louise says. “And we were in a strong position when they came knocking.”
Rather than rushing into talks, Louise explained that her priority had to be the NHS year-end, so they agreed to pick up discussions once that was complete. It meant the business could stay focused on delivering for customers at a critical time.
The decision proved wise. The team delivered their strongest quarter ever, giving both sides confidence that discussions were starting from a position of real strength.
Due Diligence Without the Pain
Because of the groundwork done over the previous two years, due diligence was smooth. The business was systemised, information was clean, contracts were in order, and data was easy to access.
“Our DD went through brilliantly,” Louise reflects. “It was all there: contracts, CRM, finances, up-to-date records. If I got run over tomorrow, the business would still run.”
Importantly, Louise didn’t let the process derail day-to-day operations. She focused on customers while her team managed much of the DD workload. The cultural fit with DWF also made a difference, those existing relationships meant communication was straightforward even when negotiations were tough.
Beyond the “Baby” Metaphor
Many founder exit stories dwell on the pain of “letting go.” Louise’s is different. For her, the acquisition was not an ending but a platform for more.
“I haven’t got those feelings of loss,” she explains. “I’m excited. I’ve become a shareholder in the new company, and the possibilities are bigger than ever.”
The lessons are practical and transferable. Focus on what you do best. Price your expertise properly. Reduce dependencies. Systemise knowledge. Build a business that works with or without you.
Louise also stresses the importance of thinking like a buyer: “Look hard at your customer concentration, your contracts, your finances. It will all come out in due diligence anyway, so prepare it in advance and save yourself the stress.”
Looking Forward
Now part of DWF, e18’s NHS automation expertise has a larger stage. For customers, the move combines boutique NHS insight with global automation and AI scale. For the team, it opens opportunities for growth and innovation.
“It’s been a journey, not a straight line,” Louise laughs. And that’s the real story: transformation doesn’t come from one dramatic pivot, but from steady, deliberate steps, led by a founder and a team willing to be honest, adapt, and act.”
And crucially, it’s not just Louise making that journey. e18’s talented team, who helped build the company’s reputation across the NHS, are now part of DWF too, bringing deep expertise, customer trust, and continuity to the next chapter.
“The Grafter helped us grow, focus, and value what we had built,” Louise adds. “That foundation meant when the right opportunity came along, we were ready.”
The future, Louise insists, is bright. “This isn’t the end of the story. It’s a new chapter, and there’s so much more we’re going to deliver for the NHS.”
Closing Thought
For founders in similar positions, profitable but unfocused, successful but dependent, growing but stretched, Louise’s story offers both inspiration and a roadmap. Clarity, courage, and committed execution can turn a strong business into a strategic asset. And sometimes, the knock you weren’t expecting is the one that opens the biggest door. Our Business Diagnostic service is the first step in helping many businesses understand how prepared they are for their next chapter, whatever that may be, however unexpected in may arrive.
