Hear what it really takes to build and exit a product business. Lincoln New, co-founder of Term Footwear, shares the full story behind launching, pivoting, scaling and eventually exiting a school footwear brand in one of the UK’s toughest retail sectors.
Lincoln takes us back to the early days of starting the business with little more than industry experience, belief and £700 worth of stock in a garage. He talks candidly about naivety, self-belief, dealing with doubters, managing supply chains across continents and the emotional toll of constant pivots. From distributor to brand owner, Amazon setbacks to Costco breakthroughs, Brexit to Covid, Lincoln’s journey is a masterclass in resilience.
This episode of The Evolve to Succeed Podcast covers:
● Where the idea for Term Footwear came from
● Starting a business with limited capital and big ambition
● Entering an overcrowded, brand-dominated market
● Overcoming self-doubt, criticism and scepticism
● Managing overseas manufacturing and supply chains
● Pivoting from distributor to brand owner
● Navigating Amazon failures and Costco opportunities
● Surviving Brexit and Covid through strategic pivots
● Building trust-based customer relationships
● Planning, executing and emotionally navigating a business exit
Chapters / Timestamps
00:00 – Where did the idea for Term Footwear come from?
03:00 – What motivated you to start a business in such a crowded market?
06:30 – How did you deal with self-doubt and early scepticism?
09:50 – How did you manage sourcing and supply chains overseas?
12:40 – What forced the pivot from distributor to owning the brand?
17:00 – How did Amazon and Costco shape the business model?
23:50 – How did Covid change your strategy and market focus?
30:00 – When did you start thinking seriously about an exit?
36:00 – How did you make the business attractive to buyers?
39:00 – How did it feel to finally complete the exit?
42:30 – What advice would you give founders starting today?
49:00 – What does success mean to you now?
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Reviews and testimonials from our happy clients
It felt like the right time to invest in myself so I could continue steering the business effectively. The real value from the funded programme came from the people, the perspective, and the practical tools it offered. It was informative, engaging, and most importantly, it made me think differently.
The Evolve team has played an integral part in making the Peer Networks programme a success in Dorset. The whole team has always acted with the highest standards and with great professionalism, be that in the management of the programme or the coordination. They are extremely diligent and organised and they have been pleasure to work with. Following their involvement with Peer Networks, they also successfully won a competitive tender for another business support programme we commissioned which they have approached with an equally excellent attitude.
Warren has been instrumental in supporting Norco in its growth and success for many years. He has guided the team and I through huge change management, leadership and development, while giving an experienced and honest assessment on a regular basis to ensure we achieve our goals and objectives and deliver on our business strategy.
The Evolve team were organised, forward thinking and a pleasure to work with. The Business Festival was a success, which helped us engage with our business community, understand their challenges and build connections. I would not hesitate to recommend Evolve to any Council or public sector organisation, looking for a team to organise successful events within their region.
The Evolve Business Accelerator is a fantastic programme for founders in the early stages of developing a business idea. The programme was instrumental in helping me develop HR Diagnostics to MVP stage and I would have struggled to get where I am without this help and support. The mentors have a pragmatic and approachable style, and they are good at connecting people through their extensive network. Thank you to the Evolve team 🙂
Evolve offers a fantastic peer group which adds huge value to myself and my business!
I have worked with Warren on a number of successful acquisitions and disposals. We often worked together many months or even years ahead of the ultimate transaction in order to achieve the optimal result. Warren’s skills include being able to see the wider commercial and strategic benefits of a transaction and therefore ensuring that a coherent and considered plan is devised and implemented well in advance. I actively recommend Warren and his team to anyone considering how they might best maximise an exit from their business.
Participating in Evolve’s Growth & Productivity Programme has been incredibly beneficial. The programme provided crucial insights into growth strategies and enhanced our team’s engagement through improved communication and leadership. While there is still work to be done, the progress we’ve made is very promising. Thank you to Evolve and the Dorset LEP for their support.
The group helped me take a step back and look at things differently. It’s made a real difference having that kind of support and input from people who’ve been through similar experiences.
Working with Evolve has been a game-changer for us and the businesses in their programmes. Their knowledgeable, skilled team brings real business experience and is genuinely invested in success. Their innovative approach and attention to detail have greatly improved our efficiency and impacted many businesses. Evolve’s commitment to understanding needs and delivering tailored solutions has exceeded our expectations. I highly recommend them to anyone looking to elevate their business. Evolve is more than a partner—they’re a catalyst for growth.
The Evolve Business Accelerator was brilliant for me and my business. Their support helped refine our strategy, expand our services, and achieve significant growth. The mentors were incredibly supportive and provided invaluable insights to plan and scale. All this working alongside such a great peer group of like-minded business owners, where we can all discuss and overcome challenges together! A big thank you to the Evolve team for their support, and I would strongly advise anyone starting out, or already established in business to reach out to Evolve and discuss the help available!
Partnering with Evolve for the Ignite Start-Up programme has been brilliant for our local entrepreneurship support efforts. The comprehensive training and personalised mentoring provided to participants have led to the successful launch of numerous new businesses. The value of this programme is clear, and we are thrilled with the results. A big thank you to the Evolve team for their expertise and commitment!
Warren does not see himself as a guru and would be embarrassed to be referred to that way. But when I think of seeking support from my network on any business topic, if not life topic, invariably I’m after someone who has seen, experienced and done it all, from financial to operations to strategy. From big business to little business, but who also understands the importance of family and health, and not just business ‘success’, that person is pretty much always Warren, my guru.
Working with Warren and Evolve has been instrumental in shaping DDC Dolphin’s future. The strategic advice and leadership training provided have equipped us with a clear vision and the skills to implement it effectively. We now have a stronger financial foundation and a more aligned leadership team, ready to drive the company towards new successes. We’re grateful for their support and expertise.
Attending Evolve’s Growth Group Programme was incredibly valuable. The workshops on business strategy, planning, and leadership helped me broaden my horizons and gain new insights. Meeting other leaders facing similar challenges was both supportive and motivating. Joining a business peer group has allowed me to continue benefiting from this broader perspective. Thank you to Evolve for this transformative experience.
There was a real value in being reminded of things I knew but hadn’t thought about in a while—sometimes a little wisdom goes a long way.
Being part of the Peer Group has given me access to invaluable advice, shared experiences, and new opportunities that I wouldn’t have had otherwise. The environment encourages honest discussion, accountability, and continual development, which has been instrumental in my personal and professional progress. I’m genuinely grateful for the encouragement and support I’ve received through Evolve and would highly recommend them to any founder or organisation looking for meaningful guidance, perspective, and long-term growth.
Participating in Evolve’s Digital and Creative Growth Group Programme has been incredibly valuable. The sessions on growth strategies, planning, leadership, and employee engagement have given me the confidence and tools to drive our business forward. The new connections and perspectives I gained have been instrumental in supporting our growth. Thank you to Evolve for this fantastic opportunity.
Although it can be challenging to step away from the day-to-day running of the business, it’s vital to make space for strategic thinking. Taking time out to work on the business, rather than just in it, allowed me to pause, reflect and reassess where we’re heading. The workshop created that opportunity and delivered real value.
The programme has really kicked me to reflect and made me want this. The company is going to drive forward and not simply go with the flow.
Just want to take a moment to thank you for all your help and support over the past few years. We’ve absolutely loved the away days with you – they’ve been hugely valuable for us. One of the key take-aways flowing from an earlier Away Day is that we agreed, carefully over time, to renew our team. This has brought in younger staff; and results of this and other decisions speak for themselves. This year, even at the eight-month mark, we’re on track for our best year ever! Your guidance has been instrumental in driving this success and we’re excited to see what the future holds.
The expert coaching and guidance Evolve offer is invaluable. When you view business and strategy with perspective you can have thoughts and ideas to make decisions that will impact your business in a positive way.
I have found the Evolve Peer groups provide a valuable support network with like minded local business leaders, which has created time for reflection outside of the office and as a business we have gained real advice and coaching from the Evolve team.
The support from Evolve has proven invaluable over the past year – even for more established businesses, it is worthwhile to take a brief step back from day-to-day operations and assess your overall strategy and business direction. The long-term peer group format gives the opportunity to form meaningful relationships with other local founders and business owners, with an open forum to both discuss challenges and celebrate each others’ successes. Thanks to the support and guidance from Evolve, we have significantly developed our strategic plan, and have successfully applied for innovation grants to develop exciting new products which will act as pillars of our future growth. We highly recommend both the Evolve Business Accelerator programme and the wider Evolve support network for any business looking to grow.
Taking part in the Evolve Business Accelerator as a Computer Science student at Bournemouth University has been a game-changer. I joined with a revolutionary idea for a scalable, cost-effective air quality monitoring system to address the limits of current, expensive solutions. Over nine months, Evolve gave me the knowledge, confidence, and entrepreneurial mindset to turn this into a viable business. The mentorship, workshops, and support helped me validate my idea and build a sustainable model. I’m incredibly grateful and would recommend the Accelerator to any student or aspiring entrepreneur looking to make an impact.
Becky delivered the session with authenticity and conviction. Offering value to both start-up’s and established businesses alike, the session was a fantastic opportunity to reflect on my employer’s current marketing strategy. It was an important reminder to consider our brand messaging, and we have already started to integrate this into our strategy and the way that we curate our social content. We hope this will help to increase engagement and generate more leads in the next few months.
Collaborating with Amy and the whole Evolve team has been an incredibly seamless experience. Amy’s professionalism is evident in every interaction and her dedication to helping businesses thrive is inspiring. Amy’s commitment to going the extra mile ensures that each programme is tailored to meet the unique needs of Dorset businesses. I highly recommend working with Amy and the Evolve team.
Working with Warren was transformative for our startup. His expertise in creating pitch decks and financial forecasts has been invaluable. We now have the confidence and tools to present our business to investors effectively. We are excited about the future and anticipate good news soon. Thank you, Warren, for your invaluable support.
It’s been fantastic because we’ve had the opportunity to step out of the office and the questions have been steered. It’s got everybody opening up and they’ve been a lot more open and honest about what the gaps are, where the holes are and what we need to fill. We’ve taken that away and implemented that in the higher management meetings. We’ve implemented so much from the Evolve sessions that will go towards the company yearly objectives and I hope will continuously improve what we’re trying to do within the business.
It has opened my eyes and has been a great experience. The Business Accelerator programme has raised a lot of important questions and made me reflect, leading to a better business strategy
Evolve’s support was instrumental in our investment journey. Warren’s expertise in developing our pitch deck and financial forecasts has given us the confidence to approach investors with a strong proposition. We’re excited about the potential and appreciate the support from the Dorset LEP that made this possible. Thank you, for helping us take our innovative sunscreen to the next level.
“Wild horses couldn’t hold me back from joining everyone in our Peer Group this month!”
The Evolve team have a huge amount of real world experience over many years in the entrepreneurial and business growth sector.
Great humans, running a great business, offering real solutions and support with integrity and authenticity. No fluff, just fast paced learning and support.
Being a business owner can often feel like a lonely place. The Peer Group has given me a space to step away, offload, and openly share the challenges that come with running a business, alongside people who truly understand the journey.
Connecting with like-minded founders allows me the time and headspace to work on the business, not just in it, and to step back and look at the bigger picture. The conversations, perspectives, and shared experiences within the group have been incredibly valuable in helping me gain clarity and confidence in my decisions. The Peer Group has created a supportive environment where I can reflect, reset, and grow.
Joining the Evolve Peer Group helped me at a time when I was standing on the edge of a decision that genuinely terrified me. I was stepping away from familiarity, certainty, and comfort, and into something completely unknown. Having the Peer Group around me during that period made a huge difference. Being part of a room of people who truly understand the pressures of leadership and entrepreneurship gave me space to think clearly, challenge myself, and trust my own judgement when doubt was loud. While my journey is only just beginning, the encouragement, perspective, and accountability of the Peer Group have been, and continue to be, instrumental in shaping both my confidence and my direction as a founder. I’m incredibly grateful for the support and kindness I’ve experienced through Evolve and would recommend the Peer Group to anyone seeking clarity, connection, and genuine support while building and leading a business.
The Evolve peer group sessions are a great place to get away from the day to day, refocus and ultimately bounce ideas off other business people. The structure of the session permits open conversation with your peers and always provides useful insights that you would not be able to get anywhere else. The specific work books challenge you and really get you thinking on what is important in your business.
The training provided by Evolve has been invaluable for our leadership team. The sessions have equipped us with essential skills and fostered a culture of continuous improvement. We are now better equipped to handle complex challenges, engage our teams effectively, and drive the firm forward. We greatly appreciate Evolve’s expertise and commitment to our development.
In the 4 years I have been working with Evolve, I have doubled my turnover.
