Your company is unique, and any interim executive will recognize the importance of creating a custom plan to meet your particular needs. To do this, seasoned interim CEOs typically follow a multi-step process.
To know how to proceed, a turnaround specialist needs a clear understanding of where you are now. So a good interim CEO would start with an operational roadmap to assess the business and create an action plan to move forward.
You’ve already recognized that you’re having cash flow problems, that’s a clear problem. But the reason behind the problem is rarely straightforward. International Executive Consulting LLC Team – Interim Executives and Turnaround Professionals Interim executives see a variety of issues that can lead a company to failure, including:
Once we identify the root of the problem, our turnaround CEO starts working on the best path forward to solve it. Our first priority is to improve cash flow. If any part of the business is haemorrhaging cash.
Interim CEOs who specialize in turnaround management know that sometimes what seems like the most obvious problem is more a symptom than a real cause. So, when we consider how to address the symptoms immediately, we will ultimately prioritize understanding the causes beneath the surface and how to fix them.
We will then analyze steps one and two and use it to inform business change strategy as we move the company forward. The strategy will include a crystal clear list of actions that address both short-term and long-term issues the company is working with.
With the action developed, the interim executive will remain on hand to assist in the implementation and monitoring of the steps they suggest. They won’t drop the suggestion and walk away. They know that the execution phase is as important as the planning and a lot can go wrong in the implementation if one is not guiding the process.
Our interim executives remain engaged at least until the business stabilizes. They will monitor the proceedings, and continue to analyze and measure the results as they progress.
Interim executives don’t manage change hoping to land the CEO position indefinitely. They love to come in, deal with the situation we are best at, and move on to helping the next company that needs our services.
International Executive Consulting LLC is one of the best top known Business Turnaround Professional Services provider in the USA. We are just one call away. Contact us at +1-202-258-5376 & we will take the quick action to improve your business growth.
Maybe your company has cash-flow issues that you need to address. Or maybe you are facing a full blown financial crisis. You may not want to admit it, but when the warning signs are clear that financial turmoil is on the horizon, you have to face them. The worst step you can take is to do nothing.
Interim Executive for Turnaround Management
Bringing a turnaround CEO is one of the smartest steps a business can take on the brink of financial crisis. Your current executive team was hired for the skills and knowledge they possess, which is probably impressive. But in the hiring process, you weren’t looking for someone with specific skills to deal with a crisis.
Most organizations will face financial problems at some point or the other. They are a common cause of business failure—but they don’t have to be. If you make the right choices at the critical moment when problems first surface, you can help engineer a successful corporate turnaround.
Interim turnaround specialists bring skill sets to demand for distressed companies. Decisive and objective by definition, interim executives bring experience and a fresh set of eyes to the problems facing the company, taking your troubled company off the brink. and interim CEOs who specialize in turnaround management are equipped with the unique set of skills needed to identify core problems and implement the most effective solutions. Contains:
A company is unlikely to find those niche talents under its roof. Someone working directly with companies facing financial crisis brings to the table the knowledge that a CEO focuses on business-as-usual goals such as growth and retention.
Turnaround professionals are typically either interim managers or consultants. Both serve strategy, but an interim executive may replace the CEO or other senior manager and make decisions to implement the change.
In addition, good turnaround professionals can be expected to develop a sustainable management team to preserve value within the company. In contrast, a turnaround team of outsiders takes that value with them when they leave.
International Executive Consulting LLC provides its clients with the best business turnaround services in the United States and around the world. We have an experienced team and you can definitely enhance the growth of your business by hiring IEC LLC professionals. Get in touch with us – https://www.interimcsuiteservices.com/contact-us/|
Do you know how the top businesses in the world continue to be successful? The answer lies deep within their growth strategies. Every successful business employs growth strategies that fit with its business goal and morals. It also complements their workforce and abides with government rules and regulations.
When every factor is perfectly placed, a growth strategy can reap benefits for any business. There are many such business growth strategies available at your disposal. Below is a list of 4 growth strategies you should use for your business:
Often businesses deal with their products successfully in a specific market. To improve, using the Market expansion growth strategy, a business can tap into previously unexplored markets where they can sell their existing products.
These markets necessarily don’t have to be domestic. A business can tap into international markets as well. Finding new customers helps a business improve its sales and profits, thereby increasing brand authority.
Market penetration allows you to plan how your business can grow in an existing market with competitors selling similar products. This is the least risky strategy as compared to the others.
Here, you will fight to steal as much market share as possible. But this strategy needs a lot of work and will involve pricing, product positioning, and marketing. There is a way you can calculate market penetration rate to understand how much of a product you are selling as compared to the total estimated market for that product.
What do your customers want? Is your product/s adding value in your customer’s life? These are the questions you need to answer. Listen to your customers and their needs. If your product is partially fulfilling it, then you can get it improved. If not, then you can create a new product with high value for your customers as they are willing to pay for it.
For a business to be successful using this strategy, adequate research, an understanding of customer wants, and needs are important.
Also considered as the riskiest growth strategy in the Ansoff Matrix, growth via diversification can take place when a business enters a new market with a new product. You can reduce the risk by related diversification.
E.g. A car company can start working on stereo systems for vehicles or a leather shoe producer can start selling leather wallets in a new market.
Another way of diversification is by selling a new product that has no synergy with your business. The plus point here is that if successful, it will open a new revenue stream for the business.
Some More Growth Strategies:
When your market share cannot grow, or the profit level is almost saturated, you can resort to acquiring smaller competitors who are either growing or weak. Doing this gets you more customers and a higher market share.
There are various channels of distribution available in the market, like wholesalers & retailers. Normally a business takes help from either wholesalers or retailers. If you can see a better impact using both, then do take help from both channels.
You cannot sell one product at one rate forever. It is not profitable and realistic to do so. Hence periodically, a price increase for each product is understood by customers. They too know that each year, costs are increasing, and hence it is natural to witness a price increase.
Lastly, Brand USP is one of the most important growth strategies. Does your product have a certain feature, quality, benefit, that is more advanced than any other similar product in the market? If there is something that sets you apart from the competition and matters to your customers, that means they will be ready to pay for that product easily.
These are some of the best growth strategies that are important for a business. They help to survive, improve market share + customer base, gain profits, and do this continuously.
Need help executing these strategies for your business? With over 20+ years of experience in growth & expansion strategies, International Executive Consulting LLC is the best growth & expansion consulting firm in the USA across diverse industries. Get in touch with us!
Today, Cyril Moreau, our CEO, shares his experience as Interim Manager. This insightful view gives you interesting and useful tips on how to prepare for the client company’s expectations and interim assignments.
Not for the faint hearted:
For the past 20+ years I have been working as a Management Consultant and Interim Manager in the USA and other continents such as MEA, Asia and Europe. Therefore, it is a practitioner’s view of change management in interim management situations, typically in dire situations.
When you work as an Interim CEO you essentially end up working for companies that have had a problem or two, either their profits and liquidity went south – sometimes over years, sometimes quite rapidly – they have an obvious leadership problem or, in the best case scenario, a vacancy due to illness or accident that has to be filled immediately for a limited period of time.
With substantial experience in the health care sector and the pharmaceutical industry, I liken the company’s position to a patient sitting in a consultant’s hospital surgery, awaiting diagnosis and treatment. Of course the difference is that the company speaks with multiple voices and what’s more, most of those voices have their own hidden agenda. A patient usually has seen a GP before being referred to a doctor specialized for their illness. Therefore, sometimes there is already a diagnosis even if it is wrong. The company also has group of GPs, i.e. auditors, banks and sometimes a strategy consultant who needs a person implementing the strategy change by doing some surgeries. And, the quality of early diagnosis varies widely. Whatever metaphor you use to describe the situation, you need to be a quick adaptor and have a keen survival instinct.
Before the first day:
Preparation is paramount. Apart from gathering information about the situation, there are several issues that need to be clarified:
International Executive Consulting LLC guides the mid- to large sized organization in instituting best management and strategies to improve their growth and scale new heights of success in future.
The CEO is in charge of developing strategies for all of these to meet business objectives. Increasingly, companies are hiring top-tier interim executives to optimize business operations.
An immediate Effect:
Some CEOs operate on the premise that they should only use interim officers for limited purposes. The first impression is that interim officers only fill vacancies. The second is that they come when a company is in trouble. In addition, many CEOs believe that bringing in an interim executive is too expensive.
The reality about interim officers, however, is much different than imagined. They represent a field of accessible, talented professionals who can provide distinguished leadership and innovation at critical points of expansion and change.
Respond to Business Requirements:
Sometimes growth overtakes a company’s management infrastructure. This type of problem is easy to recognize, but it’s hard to know how to respond. Often, the company will try to support one manager, but the rate of change puts pressure on the entire chain of command. Other times, the company will hire a new executive and focus support efforts on a more long-term senior-level position. Meanwhile, stagnation in leadership could cause the company to lose out on innovation. Growth is good, but managed growth is better.
In such cases, an Interim Executive may be just the strategy a company needs. Simply said, an interim executive’s short-term investments can yield long-term dividends. Interim officers can quickly assess a company/division’s disfunction and hit the ground running with a specific objective or set of objectives.
Interim Officers Provide Intangible Benefits:
When one of the interim executives starts his new role, this is a chance to help changing the face of the company. This process requires much more than typical business functions, such as improving IT, expanding product production, or developing a manufacturing system. Changing public perception as a company grows requires objective thinking, creativity, and calculated risk-taking.
An Interim Executive can act as a liaison with outside vendors on a full-time basis, keeping employees informed of changes while also allowing them to fulfil existing orders. He/she can also provide an outsider’s perspective on operations that may be slowing rather than increasing the company’s efficiency and growth.
Interim Working Model Forward Thinking:
Ultimately, hiring an interim executive for specific needs around a company’s growth and development can be an excellent strategy for tangible and intangible benefits. Doing so allows teams to be focused around sales initiatives, and it can create a culture of innovation. Some estimates suggest that about half of the global workforce will be temporary or interim within the next decade. Additionally, about 80% of large corporations will increase their use of flexible staffing.
Thus, hiring an interim executive for a specific staffing need can certainly help a company’s bottom line. But this is not the limit of its benefits. These are priorities for the long-term of the company. They are also points of focus for Interim Executives of IEC LLC’s who work with some of the world’s most forward-thinking companies.
For more information, visit International Executive Consulting LLC today or drop us an email at email@example.com.
Once owners, board members and investors figure out what an interim is and how an interim can help them, the next question is always how much does an interim executive cost?
The short answer is: there is no shelf rate card for interim officers. Or more accurately, it doesn’t exist for the best interim in the world. There are a few reasons why rate cards don’t exist, not least among our IEC team, an elite group of interim, project and partial executives who have been selected to deliver incredible results across companies because of their track record.
Company positions vary greatly, so the scope of work is always unique:
Your company is your child and your child is like no other in the world. Thus, the leader’s capability you need and the process and deliverables required to achieve the best results is a tailor-made solution – no different than rack, one size fits all experiences. We’ve talked to a lot of owners who are disappointed after having to put out money to the firm that they finally delivered a large binder that includes beautiful charts and templates, but no ability to execute. At International Executive Consulting LLC, we treat your situation as unique, and therefore invest the time and effort to match you with an executive authority as well as a tailor-made comp plan for you.
You can’t get a prescription before sharing your problem:
Your doctor will not give you a prescription or treatment plan before listening to your symptoms. Same goes for interim. When we call with an interim executive, they immediately evaluate 1) what you want to achieve; 2) what is needed for the company to create a successful outcome; and 3) if they are excited about the challenge and believe they can provide value. After they listen to you, we’ll create a custom plan for you that defines time, commitment, and compensation.
The interim and permanent executive pay structure is different:
Contracts for interim officers are always short-term in nature. Interim Executives don’t sit comfortably on a hefty pay check or have a severance or benefits package to back them up as this is the case with regular permanent hires. As such interim always tries to bridge the gap between the performance of the company and where it wants to be. For an interim executive to be successful – knowing they won’t last forever – to go into engagement – they must excel and prove to be valuable every day… or they’re gone.
Fee structure may vary – hourly, daily, monthly, project based. Sometimes there is also a performance bonus or equity incentive if an interim is tasked with creating incredible growth in an organization.
If your company has special needs, the specific fit can be quickly ascertained with an interim Executive, with the outcome of a compensation determination that best suits the company’s objectives.
For detailed information visit International Executive Consulting LLC today or email firstname.lastname@example.org.
Even before the pandemic forced businesses to be more nimble and forward-thinking than ever, the need for Interim Executives was growing. By 2021, we asked 500+ executives to shed light on Interim Executives Roles, a comprehensive survey that included the who, what, and why behind the growth of this category. And now as the world is finally defeating COVID-19, businesses continue to adapt and re-strategize with a new set of challenges, only increasing the need for experienced, “do this” interim executives even more.
To better understand how the current market is determining the need, according to the research, 125 executives answered the same question: “What trend do you expect to have the biggest impact on the interim attribute in the coming year? Guess what?”
The conclusion was clear: Interim Executives are needed now more than ever. Here, we break down five reasons why more organizations are drawing on interim executive leadership:
It is no secret that the pandemic, the ensuing recession and global supply chain challenges have caused losses for many medium-sized and lower-middle market companies. Add to this the laundry list of challenges that already exist – such as disruptive technology, global dynamics, fierce competition and changing consumer preferences – and the most finely capitalized and poorly managed businesses felt the heat.
But the market waits for no one. It demands growth, and development with value requires the right strategy, a clear and actionable plan, and adequate resources. To find this, leaders are looking for C-Level Executives in Irvine with a proven track record who can reverse crises, navigate potential bankruptcy, drive rapid growth and contingency plans for worst-case crises. can make. And as businesses continue to reduce expenses, hiring an interim role also offers the additional benefits and severance that comes with expertise and permanent hires without the long-term costs.
Several executives surveyed cited the rise of non-traditional employment in everything from technology to financial services to marketing. The interim specialty has followed suit, due to the greater acceptance of outsourced C-suite Executives, increased ability to work remotely, and the need for flexibility within an organization. More CEOs and business owners have become comfortable with key personnel working virtually, which has led them to focus more on the specific skills and expertise that are needed in a role rather than a single one.
The shift towards technology-driven everything was already underway, but the pandemic pushed it towards a non-negotiable one. Employees are still working from home, customers cannot accommodate in-person meetings and organizations need tools to facilitate remote transactions and manage remote teams effectively. This means a greater reliance on web-based platforms, data science, artificial intelligence and digital marketing initiatives. Organizations must also modernize and transform to use data as corporate assets.
As more CEOs and senior executives plan their exits — think baby boomers and the leaders behind family-run businesses — owners need help with strategy and development to prepare for successful transitions, whether it’s those people. Those who grow senior management teams with experienced executives, or are selling the company.
Lack of succession planning and failure to provide leadership training for less experienced executives will also hit the market and demand for experienced executives. As Baby Boomers retire and new skills are needed, interim leadership will be called upon to rapidly coach and develop the next generation of leaders, while easing the transition to full-time hires. It is all about bringing a fresh perspective and in-depth operating experience from a trusted source.
Despite the slowdown in early 2020, M&A deals have not only recovered or bounced back, but are expected to continue growing throughout 2021 and 2022. Officials pointed to private equity acquiring distressed businesses, an increase in private credit and direct lending to the middle market. , and the ability to provide liquidity as key factors in the continued growth of the interim specialty for banks where specialist talent is required to lead M&A and acquisition efforts.
Businesses with an adaptable, future-proof infrastructure have weathered the storm and have been able to buy out smaller companies, thanks in large part to consistently low interest rates, access to capital, and an effective vaccine that, despite some hiccups, Running across the country.
For more information, give a quick call at +1- 202-258-5376 & visit us today – International Executive Consulting LLC.
Having a qualified and competent executive management team is integral to the success of any organization. Problems arise, however, when an executive suddenly vacates a position or there is a mismatch between the internal capabilities of a leadership team and the actual skillsets needed for a specific stage of a company’s growth.
The world of interim management, a specialty that has grown significantly through the years, has offered an alternative route for companies wanting to maintain forward motion while re-evaluating what is needed to take them into the future. As opposed to a full-time executive search, interims can be on board in a matter of days and come with flexible contracts and pricing models.
Is interim management right for your company? Here are five common situations where hiring an Interim Executive may be appropriate.
Whatever the reason is, it’s rarely beneficial to keep their role vacant for too long. You risk disrupting workflow. You risk losing operational momentum. You risk decreasing employees’ morale. When there is a collective misunderstanding for the absence of executive leadership, this can lead to underlying anxiety, uncertainty, and demotivation.
Before reaching this point, interim management can be a solution. While sourcing a replacement for the executive position, an interim exec can keep things running as the business transitions. An Interim Executive steps in to move the organization forward while helping to re-evaluate what is required long-term for a leader to be successful.
Some executives can keep up with the demands of a growing business. They evolve and manage to lead their companies to reach greater heights. But for others, the growth can be overwhelming, and it demands different skillsets and expertise.
Our Interim Management Service provides on-demand, specialized executive leadership to help through these different growth stages. Maybe a division CEO is needed to establish and expand operations in a different country, or an Interim CEO is required to implement or streamline systems and process for a more efficient operation.
Companies may find themselves preparing for a sale or other similar milestone events. These are usually one-time events that require a specific skillset or expertise where interim management can be a huge asset. Interim executives may be called on to head up business development or even supplement management when there is no deal experience internally. The CEO, for example, serves an important role in the M&A process and if the permanent CEO has not been through a deal process before, looking to outside help can be a great solution. An interim Executive can be engaged on a project-basis to manage everything from due diligence, to interfacing with potential buyers or acquisition targets, to focusing on a post-deal integration plan.
If your business is in trouble it may be time to rethink your approach. Interim Executive provides a fresh, unbiased perspective from experts who have seen and helped companies emerge from seemingly worst-case scenarios. Bringing in an outside executive who can apply vast experience to assess the root of the problem and make the tough decisions, is often necessary to get a company back on a positive track. Once the fix is complete, interims move to their next challenge, handing the keys back to the company or new permanent executive to run with.
High-level and technical projects such as ERP implementations, product launches, or new manufacturing facility rollouts can be quite challenging. They often need people who have validated experience of operationalizing them successfully. A management team trying to embark in a business transformation for the first time can risk making common mistakes that could easily be avoided with experience.
As such, companies that are exploring implementing specialized projects can hire interim executives that have required technical experience to enable their successful execution.
Whatever stage your company is at, interim management can serve as an on-demand solution to draw on the best executive leadership for your most unique and pressing needs.
Get to know more, please visit us International Executive Consulting LLC or drop us an email at email@example.com.
What is interim management?
A few words for those who do not know the business of interim management. It is an activity that involves integrating experienced managers into organizations for a period of a few months to approximately 2 years, leading a major change, a strategic project, supporting a manager in difficulty or an immediate replacement. . All managerial positions may be the subject of Interim Management Services, with the most relevant being managing director, finance manager, human relations manager and operational positions.
What is Impact Interim Management?
Could interim management not be effective by definition? Yes, of course, but the notion of impact here is the same as that given for impact investing or impact companies.
Impact Interim Management is based on the notion of overall performance of an organization, which integrates economic, social and environmental performance. Therefore an IIM assignment is defined as a temporary management task that involves significant social or environmental improvements.
Is Impact Interim Management Relevant?
Interim management professionals and my practice as part of my interim manager assignments for 20 years shows that the answer is no, it will not be relevant. In fact, apart from a few rare assignments for specialists in ISO, the concepts of overall performance, sustainable development or CSR appear very rarely in the assignment’s specifications. And emphasizing your commitment to this area can leave the impression of a lack of commitment in the economic dimension, the priority of almost all assignments.
Examples of Impact Interim Management Assignments:
Assignment that includes an objective in its definition and an assessment of progress:
Developing a non-harmful activity to society by integrating approaches such as eco-design or circular economy or carbon footprint
An effect is not “to change the world” in an interim management Services. It can be a simple mission, just integrating a priority like “staff safety” and without negative impact on other dimensions of overall performance.
The rapid development of Impact Interim Management or something equivalent would indicate that the business world has aligned itself with the social and environmental challenges facing our society.
International Executive Consulting LLC is one of the known Interim Management Services provider company in USA and provide the Best Business Growth Consulting Services to our clients as per their need. Let’s have a quick call – +1-202-258-5376 get the best business consulting services.
The job of the cost reduction companies are such that one needs to go through an uneven path. For several companies it happens that they have hired a cost reduction consulting company, but the consequences have not been as expected. You are probably still waiting for newer customers to come up to you for your services. The conditions lead to such a situation that you are forced to ask yourself whether you have got all this wrong.
You would need to accept on the very first hand irrespective of the nature of the field you specialize upon as a consultant, it won’t happen that the clients are running up to you for your assistance. Hiring a company will however have a better side to it. Since you are not the one who controls the affairs, you can rely upon the consulting company any time a problem occurs. But, that doesn’t mean that you can afford to sit back without taking any initiative to draw clients. Let us see what cost reduction companies can do to bring as many clients as possible.
An Inward-Out Approach:
It would be a rather weird approach to call any random company and enquire if they require your services. The best is idea to start with smaller organizations at first. This group can comprise of the company you were once a part of or with the companies that you have an acquaintance with. Since, in both cases you have prior connections with the companies getting business here will be easier and you can kick start the process of forming a market for yourself.
Have the Attitude of a Pro:
In a consultant’s resume, the various fields that will be mentioned are the projects handled, the kind of experience the company has, descriptions about the various projects have been taken care of. However, one who is backed by a consulting company will not need all this. However, it is still important for any consultant irrespective of him being an amateur or a seasoned one, to act like a pro.
Be in Love with the Work:
It is obviously important for any professional to love the work he does. It is a kind of a cliched advice, but it will obviously help you perform better. You would need to have the urge to work or else your firm will never be successful. It also means that you must know your job like your palm.
It is Better to Work Less:
It is a fact that working with fewer clients is always better. Though the approach might appear to be counter-intuitive, yet it is always better to turn down a project or two from time to time. You must analyze your capability first and work accordingly. It is not good to take up a lot of work and then not be able to perform in the required manner.
However, at the end it is all about the work ethics. All you need to do is love your work, irrespective of being a owner.
International Executive Consulting LLC is of the best Cost Reduction Companies in the USA. For further queries and information visit the website https://www.interimcsuiteservices.com/ or follow us on social media.