With three companies under her belt and a history as an investor, Liz Griggs has plenty of wisdom for her fellow entrepreneurs. Her current venture, Grantchester Growth, connects businesses and new entrepreneurs to potential investors, aiming to make a positive difference for both parties in a range of industries. 

From building a solid team to staying focused and motivated to ensure you have the plans and means to execute strategies, any budding entrepreneur can learn a lot from today’s Entrepreneur Story.

What are three things every entrepreneur should know?

Liz has had the honour of sitting on MIT’s Board of the Entrepreneur School full of students that are incubating future companies. One thing she always tells these future entrepreneurs is that it’s incredibly important to have a great team. 

She expanded by saying that you should surround yourself with people with skills outside of your own and knowledge greater than your own so that you can leverage those skills and that knowledge to grow your team and your business. 

Liz also highlighted the importance of staying focused and excited about what you’re bringing to the market. Naturally, if you keep your eye on the prize and build your own excitement around what you have to offer, your audience will follow suit.  

Lastly, a question that Liz heard from investors about her company - and one that she has asked as an investor herself - is “Can you execute?” As the founder or CEO, the ability to effectively execute plans and strategies is a key determinant of whether your business idea will flourish. Additionally, it’s important to be able to thoroughly explain those plans to investors.

What problem does your business solve and who are its customers?

Liz’s current company, a private equity company, is her third venture and one she’s built from the ground up. Her business, Grantchester Growth, focuses on solving the problem of connecting investors with companies that have a unique value proposition and potential for meaningful impact in the market. The aim is to bring these companies to investors, enabling them to make a positive difference in their respective industries and achieve a great return on investment.

The business's customers include both investors seeking opportunities to invest in impactful and promising companies, as well as the companies themselves looking for funding and strategic support to grow and bring their unique value propositions to the market. Grantchester Growth acts as a bridge, facilitating investments in innovative companies that have the potential to make a significant difference and generate substantial returns for investors.

What inspired you to become an Entrepreneur?

While Liz never really wanted to be an entrepreneur, she does believe that certain people fit the role of being a leader and taking something to market very well. Once she realized that she could solve a problem and bring impactful something to market she began to believe that entrepreneurship could be the path for her. 

The key to Liz’s inspiration was identifying an opportunity to add value, make a difference, and have a positive impact on the market.

Liz believes that the product or service you bring to market has to be something you genuinely believe in - something that you resonate with personally. This is what makes her passionate about her ventures and truly believe in their potential to create an impact enough to go for it. 

Knowing what you know now, how would you have spent a million dollars when you first started your business?

Knowing what she knows now, Liz would allocate a million-dollar investment into her company by focusing on the following key areas: building a great team, developing and enhancing products, remaining flexible to market changes, and working towards sustainable growth. 

Having the right people on board is crucial for the success of any venture, and allocating funds to hire and retain top talent would’ve been a priority for Liz. Another significant portion of the investment would have been directed toward product development. Ongoing enhancements would also be done to keep it competitive and meet evolving market needs.

Liz emphasized the importance of being agile and flexible in response to market changes. Therefore, a portion of the investment would be set aside to allow for pivoting or adapting to different strategies or directions as needed.

Finally, Liz stressed the importance of a long-term growth strategy. Rather than focusing on short-term gains or quick exits, the investment would be geared towards building a sustainable and enduring company.

What is your proudest accomplishment as an Entrepreneur?

Liz's proudest accomplishment has been the success of her first company, which she built from scratch in a basement in New Jersey. The company achieved an outstanding accomplishment by providing a remarkable 13x return to investors and was ultimately sold for a substantial $2.3 billion. 

The company's success went beyond financial gains and her pride lies largely in building a solid team and in addressing a critical need in the market, particularly in the workers' compensation industry. Over the years, the company has continued to thrive, solidifying its position as the largest and dominant player in its industry. 

This enduring success and leadership in the market represent not only a financial accomplishment but also a testament to Liz's entrepreneurial vision and her ability to create lasting impact and value within a specific industry.

What big goals are you looking to achieve?

Liz's current big goals revolve around her role in a private equity and investment firm. As a part of this firm, her primary focus is on identifying and bringing in companies that can provide significant value to their investors. Moving from being an entrepreneur to an investor, she aims to support and make an impact by investing primarily in clean tech and healthcare, her firm's specialized verticals.

The investment firm has already made substantial investments in significant ventures, including one with Tesla and the acquisition of a technology company in the clean energy storage space. Liz's ongoing objective is to continue identifying and investing in promising companies in these sectors, fostering growth, innovation, and sustainable solutions. Through these investments, she aims to create a positive impact on the market while delivering strong returns to the firm's investors.

We heard some new advice from Liz, we refreshed perspectives on some tried and tested advice that’s popped up in previous Entrepreneur Stories, and we greatly enjoyed hearing about Liz’s natural inclination to add value and make an impact. How does your own entrepreneurial journey compare? 

Contact us today so that we can chat about all the trials and tribulations of your journey as an entrepreneur!