Many firms have a notoriously poor track record of success. Statistics reveal that only one out of every ten businesses break-even-growth of a company.
Why is there such a high failure rate? Some businesses fail simply because they do not provide a product or service that consumers desire. However, a bigger percentage of organizations fail to owe to a poor growth strategy or execution.
Worse, many entrepreneurs don’t realize what’s wrong or how to repair it until it’s too late.
Filling Knowledge Gap with Key Leadership:
“What many firms don’t realize is that they may bring in an interim executive who has the experience and laser focus execution needed to course-correct a plan that isn’t working—or establish a totally new one,” said Cyril Moreau, CEO of International Executive Consulting LLC. Interim executives can assist entrepreneurs in staying afloat by developing a growth strategy that will attract customers and position the company for long-term success.
5 Entrepreneurial Growth Strategies:
Entrepreneurs, investors, and markets all desire growth – and quick growth at that. In a hot market, rapid growth is an indication of a fantastic idea.
Interim CEOs can have an instant impact by offering specific leadership at important points in the business and can respond quickly to changing business needs. Indeed, the proper temporary leader may assist your firm in capitalizing on a fantastic idea and ensuring that it receives the attention and growth it deserves.
What sets you apart from the competition? Every successful company has a unique selling proposition (USP), which is the reason why a customer chooses your product over that of the competition. You must first determine your USP, which you must then anchor and express through your marketing.
By forming relationships with your target audience, you can build a strong consumer base. Listen to their worries and make sure they understand what you must give. Follow up with them to see if there’s anything you can do to improve their experience. If customers are delighted with a product or service, they will promote it to others, resulting in word-of-mouth marketing.
For small businesses trying to grow and increase their reach, having a particular focus is the most realistic option. To get there, you’ll need to know what you’re good at and stick to it. Put all your effort into learning about your target audience and doing everything you can to meet their wants. To accelerate your growth, you can eventually leverage your knowledge to upsell other items or look for cross-selling opportunities.
Aren’t we all familiar with the meaning of insanity? It’s the same thing done repeatedly and expecting different results. Even though we’re all familiar with this adage, it doesn’t seem to deter some business owners from pursuing techniques that aren’t working. An interim executive can assist you in distinguishing between the processes that propel you forward and those that hold you back, allowing you to fail quickly and focus on what works.
You’ll always track and assess a variety of figures but choose a small number of key performance indicators (KPIs) to monitor and report on every day. To put it another way: Capture everything but concentrate on the most significant details. It may be the number of new active users each week, the number of paid subscribers, or the cost of client acquisition—anything that has a direct impact on your business’s profitability.
Statement of Conclusion:
Every business begins with a one-of-a-kind concept or product. However, to stay afloat in the market and ensure that the business concept reaches the masses, you’ll need a fantastic growth strategy. Learn about the advantages of interim, fractional/part-time, or project-based executives and business consultants who may bring expertise and proven experience without the long-term commitment to ensure your plan is sound.
International Executive Consulting LLC is one of the best companies in the USA to provide the maximum growth & expansion strategy to boost your business profits. For more information, please visit us today!
The retrenchment approach of turnaround management refers to a wide range of short-term actions to stabilize the organization, reduce financial losses, and address the causes of poor performance. Essentially, it is a strategy for reducing the scope of a company’s operations through downsizing, outsourcing, asset sales, the elimination of unproductive lines, and the abandonment of difficult markets. The goal is to reduce financial losses while increasing productive activity. To improve market position, there is a refocus on the core business.
The re-positioning strategy, also known as an entrepreneurial approach, is utilized to generate money through a shift in market position and product portfolio. Steps are frequently taken to change the company’s objective, investigate other revenue streams, enter new markets, and develop new products or services.
The practice of replacing CEOs or senior managers with new ones is known as a replacement. New managers are seen to be able to breathe new life into a company because of their previous work experience and diverse backgrounds. When you have senior managers or CEOs that are unwilling to look beyond the box and are reluctant to change, it’s time to replace them. Existing leaders may be unqualified or incapable of successfully implementing a turnaround strategy.
The renewal approach focuses on long-term initiatives that will lead to improved performance. Structures that are already in place are examined. Some divisions may be terminated, if necessary, while new projects may be formed to grow into new business areas. Internally, resources or procedures may be eliminated. Innovative core capabilities are frequently used to help a company stay afloat.
We, at International Executive Consulting LLC, help businesses flourish by providing the best turnaround management services. International Executive Consulting LLC takes a holistic approach to the company, focusing on best practices, project management tools, financial elements, change management tools, and strategic reorganization approaches, among other things. Sustainable recovery is far more likely if all these issues are addressed. It’s a rational and systematic method that puts the turnaround management team, important stakeholders, and board members on the same page. International Executive Consulting LLC specializes in assisting organizations with their corporate restructuring needs by implementing the ITMS standards.
Companies may identify where they are in the process and what measures they need to take at any time. Steps are described based on learned reports and case studies that have demonstrated their effectiveness. Our turnaround specialist has a lot of experience with business turnarounds and can use the ITMS with checklists and guided procedures.
Security and affiliation:
An interim manager is a temporary manager, as the name implies. In a perfect world, this would be a matter of mutual understanding. As a result, it is evident to both parties that they are on the same page, working toward the same goal for a limited time. The benefits of interim management can only be fully utilized if this is the case. At that point, the temporary manager is only focused on success and is unconcerned about keeping his “job.” As a result, he can focus entirely on the task at hand, on the necessities. The question of what to do is never: how will my decisions and actions affect my career prospects? It does, admittedly, run counter to the common idea, notably the desire for security and belonging. However, the interim manager may only avoid this striving if he or she has enough (self-)confidence in his or her own qualities and prospects.
On my road to independence, I was frequently confronted with a lack of comprehension of the decision and the alleged uncertainty that accompanied it. Obviously, this is not the best option for everyone. Only those who are willing to accept it will be able to benefit from the chances that it provides.
Possibilities Available Through the Temporary Management Include:
However, one of the advantages of an interim manager’s independence is the ability to do so. The activities are tailored to the work as well as the end goal, keeping the focus on the necessities while avoiding “politics.”
This is precisely where I see one of the reasons why so many things do not go as planned. Most of the people involved are aware of the necessary actions or adjustments, but they are not addressed or implemented for self-protection and fear of reprisals or being kicked out. Only a few people are brave enough to come out from under their “cover.” If they do, though, they should expect a lot of trouble from their coworkers and bosses.
This means that when changes are needed that need unpleasant decisions or even the elimination of a function or unit, interim management should always be called in. Because there are almost no notice periods and even less protection against dismissal, the client does not incur any duties or expenditures because of using an interim manager as a result of long exit procedure as with a permanent employee.
For a single employee, this is impossible:
Interim management entails, in addition to bridging a vacancy, the tangible implementation of a goal or goals that are useful and vital to the organization, without, as previously stated, committing to one another in the long run. Rather than simply pointing out potentials, it is about really implementing initiatives with commensurate added value, as opposed to consulting. In most cases, however, the lack of adoption is attributable to implementation skills rather than a lack of understanding within the firm. However, there may be other reasons for the absence of implementation. Deep changes frequently necessitate a significant amount of effort, which can theoretically be done by personnel.
So, what is the purpose of interim management? Every organization has temporary tasks or objectives that internal staff is unable to achieve to the appropriate extent for a variety of reasons.
Interim management can assist organizations in meeting the continually demanding problems and pushing forward with their innovations in these fast-moving times with their rapidly expanding changes. Finally, as a strategic component for maintaining competitiveness.
Success is achieved by working for a short period of time:
As a result, the interim manager’s success, rather than the company’s contracts, secures the assignment. As a result, the company and the interim manager have a unique opportunity to collaborate with a variety of advantages and significant benefits.
For example, there are numerous reasons why an interim manager, and thus the contractor, must render himself unnecessary to complete the project. These can include production unit relocations, corporate organizational changes, junior staff development, product, or business unit loss, and much more. Whatever the cause, such duties are unlikely to be completed by the affected individuals directly, but rather by someone who renders himself superfluous once the assignment is completed in order to devote himself to other problems in accordance with the business model.
As a result, interim managers are forced to make themselves redundant, which is one of their primary responsibilities.
Growth requires change, which is never easy. However, organizations today have access to on-demand leadership with a track record of scaling up developing businesses while prospering in the face of change.
To keep up with rising demands, a company must have the necessary people and systems in place. What has worked in the past may no longer be effective in the future. As a business grows, it is necessary to enhance its management team. Managers that were successful at one level of revenue, technology, or operations aren’t always equipped to succeed at higher levels.
Interim CEOs help organizations that need new leadership during a period of rapid expansion. Interims can be brought in to plan and implement a scalable corporate growth strategy in a couple of days.
Companies that need new leadership or a clear corporate growth strategy can enlist the help of executives from all levels of the C-suite:
Recognizing that rapid expansion entails a sense of urgency, the interim leader examines the company’s status and growth objectives swiftly. Through talks with management, personnel, and key stakeholders, they explore data and gather information. “What’s working?” they inquire. Where does the organization falter? What areas of improvement may be addressed quickly?” They also pay attention to people who have contributed to the company’s current success.
An Interim Executive, unlike a consulting firm, executes the work instead of handing over a long report with no practical strategy. They make a plan, layout a strategy, take action, and accept responsibility. They may also train or mentor a team to keep the organization going forward once the interim work is completed. For more information, visit International Executive Consulting LLC today!
Perhaps your organization is experiencing cash flow problems. Perhaps you’re in the midst of a full-fledged financial catastrophe. You may not like to accept it, but you must confront the warning indications that financial distress is on the horizon. Doing nothing is the worst decision you can make. Cyril Moreau, a member of management, describes how our Interim Executives provide an immediate boost to your organization when a senior manager leaves unexpectedly.
During the change process, the department’s head is absent:
“With a view to new difficulties, a project to optimize processes had started for one of our client businesses,” says Cyril Moreau, head of the “International Executive Consulting LLC” and Senior Member of the Executive Board. When the head of the newly created organizational unit, which was critical to the project’s success, went on leave for an extended period, they decided to hire an interim manager from International Executive Consulting LLC in the United States.
Structured and relational:
In the following dialogue, Cyril Moreau, as interim manager, analyses and refines the strategy to help the company expand. We constantly make sure that staff is included in the process of change and cultural change. This has worked out fantastically. He met the staff on a personal level, which is difficult given our flat hierarchies and the large number of people who report directly to him. In this approach, he was able to organize all of the needs and lay out the groundwork for the thorough implementation. Our skilled Interim CEO was able to pick up on individual employees’ problems without passing judgment, which increased their trust and confidence.
Then he identified the new tasks based on their profiles and outlined concrete training steps and placed them on a roadmap. All of this was able to be taken up directly by the new leader of the organizational unit.
As a big challenge, the pandemic:
Cyril Moreau did not have to think too long when asked what was unique about the project. The pandemic posed a unique difficulty here as well, complicating not only the day-to-day operations, which were already running at full pace but also the optimization project execution. He has managed to defuse difficult circumstances and bring about required clarification using our Interim CEO’s relationship-oriented management approach. That was a tremendous help.
When senior personnel leaves unexpectedly, it is a challenge in normal operations, but it is considerably more so during an optimization process. We swiftly and simply connect you with specialists that are familiar with your business and have extensive interim management experience.
For more information, email us at firstname.lastname@example.org or call us at +1-202-258-5376 to receive the Best Business Growth Solutions from an Interim Manager while a senior manager leaves unexpectedly.
With millions of workers joining the Great Resignation, the labor market is still navigating unknown waters, creating labor shortages and a seemingly never-ending list of available positions for firms everywhere. Top companies are leveraging high-end independent talent within interim roles as they seek long-term solutions to fill in these gaps and continue facilitating growth, change, and impact as evidenced by a 137 percent year-over-year increase in requests for interim leaders, according to the 2022 High-End Independent Talent Report.
Here are five takeaways from the webinar that can help you flourish as an interim leader.
Rather than being an afterthought, becoming an interim CEO should be part of your long-term career strategy. It may be tempting to get on the Great Resignation bandwagon, but you should first sit down and consider why you want to leave permanent employment and whether temporary roles are the right option for you.
Interims have the freedom to choose the companies for which they work, are interested in a wide range of projects, and enjoy making an influence at a variety of organizations during their careers as independent talent. It’s crucial to emphasize that talent is happy with independent employment, with 83 percent expressing that they are and 88 percent saying they would recommend it to others.
Interim leadership offers a lot of variety and exposure to diverse industries, business conditions, cultures, and organizations, which may be extremely beneficial to someone’s career path. It also provides a great deal of flexibility because the talent has a say in the temporary jobs they choose.
Be very specific about who you’re reaching out to and why you’re reaching out to them. Make sure the value proposition is clearly stated.
Consider it a paper version of an elevator pitch. Remove any fluff from your resume or CV and emphasize KPIs, you’ve assisted your clients in achieving. Avoid making hiring managers look for information elsewhere (i.e., portfolio sites). If it’s been a while since you updated your documents, seek outside help if necessary.
Consider being an interim as a business. Your company, and thus you, must be simple to work with, and the value you provide must be obvious, or the client will look for another option. Make it as simple as possible for the decision-makers to see you in the role.
While you’re learning the ropes, be flexible with your initial cost because it’s simple to stop the conversation unintentionally if your fee is outside the client’s budget range.
To get a couple of tasks under your belt, set your rate a little lower for the first one or two assignments. You can then adjust your rate accordingly.
Interims’ ability to get in, get started, and support growth rapidly is one of their strongest selling points, and many of these interim roles allow you to make a significant impact in a short amount of time. Interim executives have demonstrated the ability to drastically alter a company’s strategic direction in a short amount of time. That’s vital to remember since firms typically hire interims because they want to make a quick effect.
Interim Leaders, for example, can ask pointed, perhaps obvious questions that internal teams frequently overlook. Their outside viewpoint allows them to see nuances that others may overlook, and their diverse experience allows them to provide innovative suggestions to help projects move forward.
The chance to create strong, high-level relationships across top firms is one of the most unique career benefits of interim work. However, networking as an interim can be tough, especially if you are mostly remote.
I think we can all agree that the search industry isn’t easy to navigate, but there are always resources to emphasize the importance of taking the time to learn about the landscape and making connections with both traditional executive search consultants who can serve as indirect conduits to interim roles and networks like Business Talent Group where project-based assignments can be found.
There’s no better time than now to begin your interim projects. Interim talent is in higher demand than ever before. International Executive Consulting LLC is one of the best firms and provides the top-rated Interim Executives or Interim CEOs to the business owners to boost their growth. To get the instant solutions for your Interim needs, give us a call – +1-202-258-5376!
Most of the new generation of freelance executives, like independent consultants, actively chose this career path for a considerable portion of their careers. At International Executive Consulting LLC, we’ve discovered that most people make this decision in their mid-career (rather than at retirement) and in quest of hands-on, satisfying employment (rather than while searching for a permanent role).
According to the Worldwide Interim Leadership organization, 57% of interim executives have been in the job for more than three years, while 19% have been in the job for more than ten years. They have experience in a wide range of industries, including energy, retail, manufacturing, and logistics. One-quarter of temporary executives work as CEOs or members of boards of directors, while 23% are active in company change. A further 14.5 percent are in charge of finance. They are well-qualified and, in some cases, over-qualified for the roles they play.
What services may these interim executives provide? Here are some recent engagements that we’ve worked on:
Traditional intermediate jobs have been updated in terms of scope and capabilities. The demand for traditional interim executives has not diminished. What’s changed is their availability at lower levels of the corporate organizational chart, as well as how corporations think about short-term skills shortfalls. We’ve noticed that the motive for filling a leadership void has shifted from just “stabilizing the ship” to leveraging the interim to achieve a specific short-term goal, from executing a turnaround to installing new business processes. We assisted a worldwide private equity firm in locating an interim CEO for a retail company whose permanent CEO was on medical leave in the last six months.
Interim Executives can provide meaningful leadership on vital but short-term projects. When the head of innovation at a major American bank discovered that his staff lacked the technical expertise to manage this critical endeavor, he hired an interim executive with more than 20 years of CRM program implementation experience. For ten months, this interim leader oversaw not just day-to-day growth initiatives, but also the development of top-level goals and strategies. Then he left the system up and operating, with a crew that was well-prepared to run it in the future.
Interim leaders can also serve as consultants to internal executives, providing behind-the-scenes assistance and enhancing information transfer. Interim Manager recruited an experienced M&A specialist to advise the acquisition and integration team when the EVP of a prominent industrial firm conducted a carve out acquisition from a competitor. Experienced and intuitive. This executive had the ability to read both business cultures and was able to assist the team in anticipating, assessing, prioritizing, and resolving difficulties.
Roles developed to evaluate new services and enterprises during the start-up stage: Before making a permanent hire, more and more firms acknowledge the importance of testing/iterating/fine-tuning new jobs in the field, not simply on paper. What will the pace of a new product’s deployment be like in reality? What will be the ultimate governance structure for this new division, and how will this new function’s resourcing work? Moving forward with work while remaining open to actual learning and a variety of outcomes is required to answer these and other concerns. We recently assisted a major insurer with the introduction of a new data-rich business unit by providing an interim CIO to learn and “move the ball down the field” before committing to a retained search and a permanent job spec that was more educated and focused on success.
Being temporary without the assistance of a key executive or a deep leadership bench in a scarce talent segment doesn’t mean you have to suffer or make a quick permanent hire. You may move forward without missing a beat and get an advantage over competitors that are still locked in a 20th century talent mindset if you have a better understanding of today’s temporary executive market. International Executive Consulting LLC provides you the top level Interim Services by the experts. For more information, give us a call today – +1-202-258-5376!
Due to the worldwide economic downturn, business turnaround techniques are in higher demand. Clients of International Executive Consulting LLC’s restructuring advisors face strategic management issues that are common in today’s global market. Here are some details about our company’s business turnaround services and performance importance services:
* The company’s brand recognition.
* Working capital and cash flow
* Strengths, Weaknesses, Opportunities, and Threats (SWOT).
* The company’s general vision as well as specific business strategies.
* The industry in which the client operates, including competitor activities.
* Customer acquisition and sales techniques
* The success of sales and marketing efforts conducted solely over the internet.
* Efficiencies in operations.5. International Executive Consulting LLC builds a turnaround strategy with the Client to meet the needs of each case. The following are some of the most popular business turnaround services:
* Creating a viable company strategy with attainable goals.
* Managing financial flow and reducing wasteful expenses.
* Restructuring of management.
* Improving employee professional development opportunities and corporate culture.
* Restructuring activities to boost corporate performance and international tax planning efficiency.
* Implementing new Customer Relationship Management (CRM) strategies – present customer business development and new client acquisition should be considered.
* Creating appropriate marketing strategies, such as e-commerce and search engine optimization.
At International Executive Consulting LLC, we provide the best Business Turnaround Services, Growth & Expansion Services, Business Consultation, C-Suite Services and more to our clients worldwide. Get to know more or any queries about the services, drop us an email at email@example.com.
It used to be that the necessity for temporary leadership was simple—and rather uncommon. It started when a permanent executive, generally in the C-suite, left unexpectedly.
An interim executive’s job was equally simple: come in effortlessly and perform exactly what the regular executive had done, but only for a limited time. Relationships between managers and employees remained unbroken. Many of the interim executives were corporate retirees or board members. The main purpose was to keep the ship afloat and buy time until a new permanent executive could take over, not to drive through new projects.
Interim leadership is becoming more popular because of changes in the talent market and the fast-paced pace of change within major organizations. Interim executives are increasingly being used to supplement a company’s human resource assets while also improving “talent liquidity” at the CEO level and promoting change and innovation. Interim leaders are being deployed on demand, in more strategic ways than ever before, across an increasingly diverse array of categories, from a Head of Corporate Affairs who plays an enhanced role during a defined period of transition to Integration Leaders whose roles literally disappear over time. They assist businesses in launching new projects and filling skills gaps in difficult-to-fill positions. They act as discreet counsel to permanent executives who are relocating to a new location.
Here’s why and how your business may cash in on the trend:
REMEMBER THE LEADERSHIP DEFEAT:
Employee tenure has decreased even in the C-suite. Permanent CEOs have an average tenure of nearly seven years, whereas CFOs have an average tenure of little over five years. CMOs are only good for 43 months. At the same time, according to the Association of Executive Search and Leadership Consultants, finding the ideal permanent executive can take anywhere from two to five months. There is increasingly a lag between the end of a successful search and the start of a new position, lengthening the effective time-to-hire.
Against this backdrop, more changes are occurring with greater regularity for practically all businesses and industries. “Change is the new normal,” according to publications ranging from Harvard Business Review to Forbes. Customers can now interact with you in new ways thanks to modern technology. Old inefficiencies are exposed by modern analytics technologies, which open up new product potential. Team structures have become even more fluid and dynamic as Agile methods have become more widely used.
Build vs. Run: The executive who spearheads the strategic implementation of a new CRM or builds a data science hub isn’t always the best person to lead the charge in the future.
Market Timing: Finding permanent leadership for a business unit that is going to be sold is inefficient, if not impossible.
Finite Initiatives: Once the task is completed, the skills required to integrate a new acquisition or complete a change may no longer be required.
Sequencing: When a business function is in change and C-suite leadership is in flux, it might be challenging to recruit VPs at a lower but no less crucial level.
Over time, resolving these issues becomes more about finding ways to fund near-continuous company transitions rather than filling a specific temporary opening. How can you keep moving forward when you don’t have time to discover the ideal permanent hiring, or when a permanent hire isn’t suited for your current business situation or appears to be unavailable?
Fortunately, a new on-demand talent pool has emerged to assist organizations to meet these demands: executives who choose to be self-employed and build a portfolio of interim CEO or C-Suite roles. When you combine it with firms like Business People Group, which helps clients locate and evaluate talent, scope assignments, and support the engagement, you have rapid, flexible “interim” resourcing at all levels, from the C-suite to VP and Director. International Executive Consulting LLC is the finest choice for firms looking to engage the best top-level Interim Executives to help them reach new heights of success in a short period of time. For more information, shoot an email with your queries at firstname.lastname@example.org so that we can provide you the best solutions for your need.
An Interim Manager introduces positive attitude, energizes, causes a review of the ways of doing things, prints a new rhythm, generates strategic vision, provides optimism and enhances leadership in the organization.
We are in a new era, characterized by the speed of change, volatility, uncertainty, complexity and ambiguity . Organizations seek to quickly adapt to the situation, fine-tune their structures, improve their productivity, reduce their costs, develop people so that they contribute all their talent… and all this at the lowest cost, since their financial positions have suffered with the latest crises.
Business competitiveness is stronger than ever today. Digital channels, the immediacy of information, the power of consumers and customers, and entrepreneurial trends have made it increasingly difficult to position oneself and have real impact and recognition in the market. Hence, the keys that make a company successful lie in its organizational culture, in its way of working, in its direction and in the work plans focused on fulfilling its mission.
What profiles can I hire when faced with a need in my organization?
There are three main options offered by the market when faced with a management need:
Therefore, an effective solution and in full trend with the market, is the figure of the Interim Manager, a professional with proven experience, superior academic training and a broad and inclusive vision. Unlike a consultant who suggests and proposes, he always executes and implements.
We can define Interim Managers or management by transition, as a strategic tool to address the management of the speed of change and the development of the organization during a certain period of time and with previously defined objectives.
Interim Management aims to strengthen the company’s management capacity while ensuring transparency on the execution of the agreed strategic plan and generating the trust of all partners. In a few words, Interim Management, through the setting of objectives, creates, streamlines and improves the performance of projects and companies.
The average execution time of an Interim Manager is between 6 months and 2 years, depending on the objectives set and the situation of the organization. After this time and having fulfilled the objectives, he leaves the organization, leaving the people on his team trained and educated to continue the work.
It is very important to detail the benefits an Interim Manager or an Interim CEO provides, among which the following should be highlighted:
It is necessary to highlight a key aspect, the exit plan , its adequate articulation is essential so that its work is complete and the organization does not suffer when it leaves.
At International Executive Consulting LLC, we offer productivity and business development strategies based on Interim Management, providing competitiveness so that projects have greater possibilities of development and success. We train your teams through our Training Cycle: Tools to define the mission or purpose, manage the personal brand and develop the business model. To hire us or for more details shoot us an email today at email@example.com.