In a sector where scaling often leads to external investment or an eventual sale, what does it look like to build a consultancy that grows, stays independent and develops a long-term ownership model for its people?

Olly Purnell is the co-founder of Q5, the organisational health consultancy that has grown from a small London start-up into a global firm operating across multiple regions, all without private equity or a planned exit. Instead of organising their business around an eventual transaction, Olly and his co-founders focused on purpose, long-term stewardship and the belief that advisory is a vocation.

This episode explores the decisions that shaped the firm’s early years and the operating principles that allowed Q5 to scale with focus and consistency. Olly discusses how broadening ownership strengthened commitment across the organisation and why different firms choose different paths depending on the futures they want to build.

John and Olly examine what resilience looks like inside a consultancy. They discuss how leadership choices, cultural discipline and a clear sense of identity help boutique firms compete effectively and why the craft of advisory still matters in an AI-enabled world.

Key discussion points include:

• What it takes to build a consulting firm from zero and the early decisions that matter most
• How to scale a firm organically, without a grand plan
• Why Q5 resisted investment offers and broadened ownership among employees
• How ownership shapes culture, accountability and long-term performance
• Why independence can be a competitive advantage for boutique consultancies
• How AI and technology can elevate the consulting craft without replacing it
• Why advisory remains a vocation and what it means to build a firm designed to last

For founders, partners and leaders who want to build consultancy firms on their own terms, this conversation offers a practical blueprint for independence, culture and long-term value creation.

Host: John Howard, Partner at Garwood Growth
Guest: Olly Purnell, Managing Partner at Q5

In this episode of The Unlocking Value Podcast, John Howard speaks with Pekka Metsaranta, founder and CEO of Sisua Ltd, a consultancy known for stepping in to help clients succeed with their most complex programmes. From M&A integrations to large-scale systems delivery, Sisua operates where clarity and execution matter most.

Just as Sisua thrives amid complexity, Pekka’s own path has been equally demanding. He built Sisua from the ground up without co-founders, delivered work while building the business, and learned the hard way what leadership really means when there’s no safety net. His story is one many consultancy founders will recognise: full of steep learning curves, hard decisions and the discipline to keep going when belief is all you have.

Together, John and Pekka explore what it takes to build a values-led professional services firm in real-world conditions, without shortcuts or illusions.

Key discussion points include:

• What meaningful balance looks like for founders and the practical levers that make it possible
• How to lead with accountability in a collaborative, non-hierarchical culture
• What can happen when you scale internal processes too early
• Why leadership in complexity demands belief and resilience

For founders and leaders building firms in uncertain markets, this is a candid, grounded lesson in navigating tough challenges without losing sight of what matters.

Host: John Howard, Partner at Garwood Growth
Guest: Pekka Metsaranta, CEO of Sisua

If you’re leading a professional services firm and want to grow without losing what makes it yours, this episode brings clarity to one of the biggest decisions you’ll face: whether to take on investment and how to do it without compromise.

In this episode, John speaks with Laura Morrill, Investment Director at Agathos Management LLP and a highly accomplished competitive tennis player. Laura offers practical insight into how external investors can help founders sharpen their direction and strengthen their firms, while staying true to the ambitions and aims that led them to be founders in the first place.

Laura brings a rare blend of boardroom discipline, human insight and athletic resilience – and a belief that great partnerships are built on challenge, not comfort.

She has supported founder-led firms at their most critical inflection points. Her view? You don’t have to change who you are to grow and thrive. But you do have to know where you want to be heading and have a plan for how you’ll get there.

Key discussion points include:

• Why resilient founders actively seek challenge and why investors trust those who do
• What really changes post-deal (hint: not as much as you might think)
• How to prepare your mindset and your firm for long-term value creation, long before external capital arrives
• What a value creation plan looks like inside a consultancy, with or without investment

Whether you’re actively considering investment or simply want to build a firm that lasts, this conversation is a masterclass in resilience, clarity and leading the long game on your terms.

Host: John Howard, Partner at Garwood Growth
Guest: Laura Morrill, Investment Director at Agathos Management LLP