March 16, 2024

The Case for Hiring Part-Time or Fractional Executives

The Case for Hiring Part-Time or Fractional Executives

Every business owner dreams of gaining major traction in the marketplace. Fast-track growth, however, often comes at a cost. Things get taped together. There’s no process to speak of. Systems? Ha. Things go missing, including clients and team members. Lack of resources means that even the crown jewel – the company’s ability to out-innovate — may be put on hold just to keep up.

When a company grows faster than the capabilities of the leadership team, the company can hit the wall.

One of the hottest trends in business today is bringing part-time or fractional executives to provide C-suite leadership, mentorship, and the operational upgrades needed to help a company break through the ceiling to growth.

In this webinar, InterimExecs CEO Robert Jordan takes a deep dive into the question of when choosing a part-time or fractional executive is the best choice for a company:

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March 14, 2024

Family Business Succession Planning Checklist: 6 Important Questions to Ask

Family Business Succession Planning Checklist: 6 Important Questions to Ask

Nearly all (98%) US companies that responded to PwC’s 11th Global Family Business Survey say they have some form of governance policy in place. But, just what “governance policy” means varies widely. It could be anything from a shareholders agreement (75%) to conflict resolution mechanisms (22%).

In addition, the survey found that 78% of respondents say that protecting the business as the most important family asset is their top goal for the next five years and 72% want to ensure the business stays in the family. Despite that, in 2021, only 34% said they had a robust, documented, and communicated succession plan in place.

Perhaps it shouldn’t be all that surprising that so many family-owned businesses lack a formal plan. Creating a succession plan requires having difficult discussions around emotionally fraught family dynamics:

  • Should your son or daughter be groomed to take over the helm, or should it be a non-family member?
  • Should you just sell and split the proceeds?
  • What if the company you founded and devoted your life to building goes in a different direction once you retire?

Despite widely quoted statistics that say that only 30 percent of family businesses successfully transition to the second generation and only 13 percent survive through the third generation, a Harvard Business Review report says that is not true.

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February 28, 2024

Business Exit Strategy Guide for Owners: Intro

Business Exit Strategy Guide for Owners: Intro

When you were growing your business, filled with an overriding sense of potential, did you also start thinking about your exit plan?

Likely not. And with good reason. Entrepreneurs, business owners, and boards of directors are enthusiastic about their potential for success. They aren’t thinking about that moment when they are ready to retire. Or move on to a different business challenge. Or want to while away the days on a desert isle, sipping margaritas and reflecting upon their many successes.

But that day has come for you, which is why you’re in need of an exit strategy for your business.

We’re here to help.

Our six-part Business Exit Guide for Business Owners is the place to start your journey to the next chapter of your life and business.

Here’s what we will cover:

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February 27, 2024

The 6 Biggest Business Mistakes and How to Fix Them

The 6 Biggest Business Mistakes and How to Fix Them

Interim executives, by definition, come into difficult situations, assess them quickly, and create a plan for success. That means they have a front-row seat to the most common business mistakes companies make in the areas of leadership, operations, human capital, strategy, business finances, and change initiatives.

Focusing on these fundamental business needs is a good starting point for any struggling business.

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January 26, 2024

Case Study: AHIMA-HCPro Acquisition and the Crucial Role Played by a Team of Interim Executives

Case Study: AHIMA-HCPro Acquisition and the Crucial Role Played by a Team of Interim Executives

AHIMA, a nonprofit whose mission is to ensure that health information is accurate, complete, and available to patients and providers, had a big idea: To expand by buying a for-profit business.

The acquisition target, HCPro, was an industry leader in integrated information, education, training, and consulting products and services in healthcare compliance and revenue cycle management.

The combination, AHIMA CEO Amy Mosser believed, would broaden the reach of both organizations.

But, first came the challenge of the acquisition process – performing due diligence, planning for the integration, and setting a course for the future.

To do that, she needed help in three key areas: financial due diligence, workforce integration planning, and content licensing.

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January 26, 2024

Interim Executive Trends for 2024

Interim Executive Trends for 2024

As the Greek philosopher Heraclitus is famously quoted as saying: “Change is the only constant in life.” And 2024 will bring a torrent of change!

As we deployed InterimExecs RED Team members throughout 2023 and talked with interim executives, company owners, and private equity investors, we saw five common themes emerge.

Based on that research, these are the interim executive trends for 2024:

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December 9, 2023

Preparing Your Company for a Sale and How to Get the Help You Need

Preparing Your Company for a Sale and How to Get the Help You Need

So you’re looking for an exit strategy and the sale of your business seems like the best approach. But how do you get the most for the business you have built? Start right now preparing your company for a sale.

The good news for sellers: It’s a seller’s market. There are not enough assets in the world for the amount of investment banking cash that is sloshing around in the markets, as InterimExecs CEO Robert Jordan said in this recent webinar:

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December 8, 2023
Robert Jordan

3 Things Companies Can Learn from How Private Equity Firms Work to Maximize Value

Robert Jordan | CEO, Association of Interim Executives
3 Things Companies Can Learn from How Private Equity Firms Work to Maximize Value

Private equity firms have a simple recipe for making money: They identify companies they believe are undervalued, improve those companies, then sell them for far more than they paid to buy them in the first place.

Knowing how private equity firms work can serve as a roadmap for any company looking to improve operations and maximize value.

Start with these 3 things PE firms do following an acquisition in the lower middle market ($2-$15 million in EBITDA) to improve your own bottom line, whether you plan to continue operating your business or want to ready the company for a future PE investment.

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November 16, 2023

What is a Fractional Executive and When Does it Make Sense to Hire One?

What is a Fractional Executive and When Does it Make Sense to Hire One?

Fractional executives are the hottest thing in the C-suite. Once a rarity, fractional executives have gone mainstream, especially since the pandemic. Companies across the spectrum, from start-ups to Fortune 500 firms, are considering hiring fractional or part-time executives.

During a webinar, InterimExecs CEO Robert Jordan took a look at the trend and some situations when a fractional leader might make sense for your company.

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September 24, 2023

What Is an Interim Executive & Is It the Right Answer for Your Company?

What Is an Interim Executive & Is It the Right Answer for Your Company?

What is an interim executive? It’s a highly knowledgeable and deeply experienced C-suite executive ready to step into a company in need of superior leadership.

As veterans of the interim business, we know that pairing the right interim executive with the right company is a delicate balance. After all, private equity funds or venture capital funds get one use of their dollar. Just one. Fund managers have a sacred charge of evaluating opportunities and investing the funds they’ve been entrusted with by their limited partners in hopes of maximum returns.

Likewise, we get one chance to make a great match. We must identify the interim executive with the right skills and experience and catch that executive during the brief period of time they are in between assignments assessing the next opportunity they want to take on.

So how do we best deploy genius leadership when we only get one chance every day to maximize everyone’s time, unique skillset, and results? We start by being selective about our clients.

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