Bootstrapped, as a sole-founder, to a multi-million exit in just 4 years
at the Entrepreneurial Spark accelerator, run by NatWest.It was his first day as a business owner, and honestly?
He didn’t have a clue what the future held. Hell, he wasn’t even sure what services to offer. So, he stuck with what he knew—consulting on fraud and crime prevention for law firms.
The first year? Not bad.
He landed some household names, pulled in a decent income, and even took on part-time lecturing gigs to stay afloat.But he couldn’t help but think, was this really why he’d left his old job? And the one before that? To work twice as hard, with countless more risks, for the same money?
A few months later, Eddie had the classic lightbulb moment at a business incubator talk.
Stop selling time, start selling a service. Software as a service (SaaS). Something scalable.
Getting back to his desk, he started frantically brainstorming for ideas where he could utilise his skillset into something that could be bought as a scalable service.
Fraud.
Crime.
Bribery.
Cyber.
Whistleblowing.
What else did he have solid experience in, that he could use to his advantage?
And so, the (very poorly named) Business Fraud Prevention Partnership was born. (or ‘BFPP’ for short) was born.
Let’s be honest, “Business Fraud Prevention Partnership” wasn’t going to win any awards for branding. But an idea’s an idea, and that was the start.
An online solution to help businesses tackle issues of fraud and crime within their workplace. The goal was to empower small businesses with the same tools that are afforded to the largest of organisations. After all, why should only the big organisations benefit from protection?
In just 4 years, a lot changed. The name had changed to The Defence Works, and Eddie had built something truly special with no outside investment—just a ton of grit and hard work. He wasn’t alone for long either. He was lucky enough to get some incredible people on board (special mentions to Adenike and Lukasz) who helped shape the company from the ground up, through to the inspirational team that he works with to this very day.
Then came 5th May 2020.
After 1,488 days of hustling, building and refining, Eddie proudly announced that The Defence Works had been acquired by Proofpoint, one of the world’s largest cybersecurity firms. The training platform he and his team had built from scratch would now help millions of people worldwide protect themselves from cybercrime.
As the Founder and MD of The Defence Works, it was a strange day. They’d built something from nothing – no investment, no family pot of gold, no hidden savings – just sheer hard work. But, there are no words Eddie could find to really express the weird and wonderful journey that he’d been on over those few years – unrivalled, amazing highs, and deep, challenging lows.
The acquisition of a business is always such a special ephemeral moment, so in Eddie’s mind, it warranted reflection on some of his most favourite moments that he’ll never forget…
#1 The last day of being employed (5th February 2016)
Waiting for his colleagues to join him for some farewell drinks, Eddie had a moment of silence in the bar by himself, and he’ll never forget that moment, thinking “sh*t… now what?”
#2 Lecturing to pay the bills
He was lucky enough to bag a part-time lecturing job doing a couple of half days a week at the University of Salford teaching law, and then weekends teaching Criminal Law to Legal Practice students at BPP Law School – all whilst trying to start a business (and renovate a house). He was literally working 7 days a week. It was a scary and amazing moment when he realised… maybe he didn’t need to lecture anymore – maybe he could get by on what he was self-generating? Letting go of that crutch felt like such a big step.
#3 The Pivot
It was a bit daunting, when after quitting his job to start up the consultancy gig, Eddie decided to take the plunge and pivot his business idea entirely. He’d spent a year working away and trying to build a name for himself as a consultant, getting some good work through the door and delivering what he set out to do. But, there was something missing, something that didn’t quite feel right and he couldn’t really put his finger on it.
It was April 2017 when he took arguably his biggest leap of faith to date – to pivot. To change from what he’d been doing for the last year and to set out on an entirely new, scalable, adventure.
What would people think?
Won’t they think he was flakey, changing from one idea to another?
Was he being stupid, he’d already started making money as a consultant?
Who was to say this new idea would even work out?
All very legitimate questions that he asked himself. But then it all boiled down to one thing… what did he really want to do? And, from that moment on, everything changed.
#4 First customer
There simply isn’t anything better than that feeling of getting your first customer. It’s quite a surreal feeling at first – that someone is willing to part with money for something that you’ve thought up and devised in the attic room of your house! Eddie couldn’t thank all of their customers enough, but wow – those early adopters really are something, aren’t they?
The £14-a-month subscription might not seem like much now, but that first sale was all the validation Eddie needed to grow the business further. After all, he always thought, if he could get 1 customer, he could get 10, and if he could get 10, he could get 100 … and if he could get 100… OK, you get the picture!
#5 Winning a pitch to keep the lights on
When your entire software platform is built on a free trial, and that trial is about to expire, you get desperate. Eddie pitched for £1,000 at a NatWest event, knowing full well he needed $999 to keep his software going. Winning that pitch (and a giant novelty cheque) felt like a lifesaver.
#6 First office
It wasn’t glamorous, but getting their first office felt huge. Eddie kept things lean, opting to invest more in marketing and advertising than rent. Still, having an office made it all feel more real. Eddie was convinced if they got the office, they could just about afford to stay in it for a few months if things went well!
#7 Winning an award he didn’t pay to enter
Everyone knows awards can be a racket, but Eddie entered the Federation of Small Business awards in the Technology Business of the Year category on a complete whim (no entry fee). Hell, they were literally the definition of a ‘small business’ at the time… given that Eddie was the sole employee!
It was the first night out for him and his wife in quite some time (did you know, starting a startup makes you kind of skint?), so they were just happy to be out and eating some nice scran! So, to go on to win it, without even so much as a thought that they might, was a massive boost.
#8 First employee
Surely this has to rank right up there? Taking on the first employee for the business was a monumental step. In Eddie’s mind, it secured the fact that he wanted to grow the business into more than just a lifestyle business – it signalled an intent! And over time, seeing his team grow both personally and professionally became one of the best parts of the journey.
#9 First US client
Looking back, Eddie was actually surprised to get their first international clients as quickly as they did. The Defence Works didn’t just stay in the UK—they had clients beyond just the UK, all the way from India to the United States. Pretty cool.
#10 Rebranding from BFPP to The Defence Works
So, Eddie’s owns that the Business Fraud Prevention Partnership was the world’s worst name, but more than that, it was quite apparent that their fun, innovative training didn’t quite match the corporate branding they’d used to date. That, and they’d changed a bit since he first thought up that terrible name – so they needed to do something different. Working with 438 Marketing (big shout-out to them for being so good to work with) was a fun process, as they sought a brand that better represented them.
#11 Getting rid of the “Blue Beast”
This was something that felt a little bit personal. But when Eddie started out, he was driving a 2011 Vauxhall Corsa and trying to make a go of it. For the first few months of pitching clients, he was parking his car round the corner so they couldn’t see him rocking up in the beast. He eventually got to a point where he allowed himself to get a new Ford Focus (leased obviously).It might sound small, but it felt like a huge personal milestone at the time.
#12 Needing a second office
That tiny office didn’t last long. Within a year, they outgrew it and had to move to a bigger space. Eddie spent a weekend scrubbing second-hand office furniture to kit out their new digs.
#13 Announcing the acquisition to the team
Breaking the news about the acquisition was nerve-wracking, especially over Zoom (thanks, pandemic). But seeing his team’s reaction made it all worth it. They’d built something amazing together, and this was the reward for all their hard work. It was special, not just for him but for everyone.
The journey from a one-man consultancy to a multi-million exit wasn’t easy. Eddie knows better than anyone that starting a business is no walk in the park. But hopefully, his story can serve as some inspiration for anyone thinking of taking the leap themselves.
Of course, it wasn’t all sunshine and rainbows – there were some serious lows, too. Eddie’ll get round to updating this page soon, focusing on the darker moments, the lessons learned, and how to get through them.
