Is an Interim Management Strategy Right For Your Company?
As we enter this New Year, we do so with the realization that we still suffer from the economic hang-over left from the 2008 downturn. Long gone are the days of abundant resources. Our current and future economic reality consists of scarce resources and a shrinking opportunity base. Even the best managers are having sleepless nights as they wrestle with how to grow their businesses in the face of such constraints. The good news is that these last five years has taught us to do more with less, stretch our thin resources, and continue to delight customers. So how is this getting done?
Economic uncertainty has challenged companies and management teams with expanding their business and reducing their spending, while still making meaningful progress now and into the future. Whether you are a small, mid-market, or Fortune 500 company, you will recognize the challenge of reconciling your management needs in the face of budget reductions. Doing things the same old way just “won’t do”. You need a way to quickly turbo charge your business without breaking the bank. The question remains – how? Leading companies have used a secret weapon against these challenges for years: interim management services strategy.
Interim Management Questions to Ask Yourself
- In your current or last budget cycle have you been asked to raise your profit targets with flat or reduced expenses?
- Do you have a customer or market segment that is a good fit for your company, but you don’t have the resources or time to explore, define and win that business?
- Do you need management expertise in a specific area, but don’t want to make a full time hire or can’t afford to make one?
- Do you have a window of opportunity to make a meaningful business move but can’t afford the ramp up time or learning curve to make the most of it?
If you answered yes to any of the above questions, an interim management services strategy is a weapon you should think about using too. Think of it as “management as a service”. A model designed to provide specific executive, management, sales or operational expertise when and where you need it, for exactly as long as you need it, at a fraction of the time and cost expense of hiring, assimilating and assigning a full-time professional.
Interim management services allow you to make meaningful progress in your strategic initiatives without incurring a large upfront investment in time, people, or budget. It allows you to easily navigate unique challenges, fill leadership voids during transitions, or obtain expertise on special projects and initiatives. It’s effective and efficient talent, when you need it, for how long your needs exist.
Add an interim management strategy to your strategic arsenal and watch your business grow….you’ll also sleep better at night knowing you are making the most out of this current economic environment.