November 6, 2020

Private Equity Looks to Operational Leadership in Hyper Competitive Markets

Private Equity Looks to Operational Leadership in Hyper Competitive Markets

Private equity funds are entering a new phase that requires new tactics to be successful against many alternative sources of funds. With a vast reservoir of dry powder – $1.5 trillion waiting to be deployed – PE funds seeking the whip hand will build and pivot while the economy is reinventing and reviving in 2021 and 2022. But what worked in the past won’t work in the future. Moving forward, adding value will require more attention to management fit for the purpose of rapidly transforming portfolio companies.

“Every good private equity professional will tell you that the most important factor behind a successful investment is the management team,” said Eric Jones, a partner and member of the corporate and private equity groups at Detroit law firm Honigman LLP. Jones was a speaker at the University of Michigan Private Equity Conference held virtually in September 2020 and attended by InterimExecs. “You can have even market share, but without a very strong management team, it’s not going to be sustained. The business isn’t going to grow and the investment piece isn’t going to be realized,” he said.

Read More

July 21, 2020

What are the Benefits of Interim Managers?

What are the Benefits of Interim Managers?

The only certainty in business is change. But change is accelerating, less predictable, and increasingly, beyond the control of organizations. As technology and unforeseen events continue to drive exponential change, businesses that can’t keep up risk being left behind.

Companies struggling to generate growth and stay relevant amid rapid transformation often look to new leadership. A growing number of companies are also looking to a different kind of leader—one who specializes in change and embraces the challenge of helping companies solve their biggest issues. Enter the interim executive, a new breed of on-demand leadership that brings outside perspective, cutting-edge thinking, veteran experience, and a laser focus on results.

Read More
March 25, 2020

RED Team Executives: On Call to Help Now

RED Team Executives: On Call to Help Now

Uncertainty is growing in the US with coronavirus cases mounting. California, Illinois, Michigan, and other states have taken serious actions with shelter-in-place orders, leaving many people wondering how this will impact them personally as well as their companies and the economy as a whole.

At the same time, we’re reflecting on how much there is to be grateful for, including the strong relationships we’ve built over 10+ years with inspiring leaders. These are women and men who focus their careers on running into the burning building – the company in trouble – learning fast, listening, assembling resources, providing fresh and objective insights, developing new plans and actions for survival and ultimately blueprints for a brighter future.

We recently convened a call with some RED Team execs who shared how they are adapting to new ways to work. Many executives shared experiences on the front lines figuring out how to help combat the virus and also help people work smarter and safer:

Read More
January 30, 2020

Transforming Your Business Through Technology: Chat with Interim CIOs

Transforming Your Business Through Technology: Chat with Interim CIOs

Technology is the most disruptive force in the business world today. It transforms everything that it touches, creating new opportunities while at the same time threatening incumbents and late-adopters.

Futurist Peter Diamandis describes the technology paradox in the following way: “Entrepreneurs will create more wealth in the next decade, than we have in the entire past century. We’ll also experience the reinvention of every industry. Understanding how to navigate accelerating technological change is essential for every leader. The problem with such dazzling change is that most people fear the future, rather than being excited by it. And fear is a terrible mindset from which to create and leverage the opportunities ahead.”

InterimExecs recently held a webinar with Chief Information Officers (CIOs) David Mitchelhill and Kevin Malover about how you should be thinking about technology and your business strategy as we enter 2020. Among the topics discussed were ways to navigate disruption to stay competitive, the value of outside viewpoints in technology, when to pursue new technology versus maximizing current assets, and balancing the fear of change with the fear of falling behind.

Read More
January 6, 2020

2019 Highlights, and Looking to a Bigger, Brighter 2020 Ahead

2019 Highlights, and Looking to a Bigger, Brighter 2020 Ahead

Friends, we are kicking off 2020 energized by all the big wins to come after completing an excellent 2019 adventure. Ok, ok, 2019 is seeming a bit passé now that we’re in a brand new shiny decade (still letting that set in), but before we get into upcoming plans, will still need a quick recap and note of appreciation for your hard work and support.

First, a big thanks to our team of elite executives we call RED Team Ready, who performed in amazing engagements throughout 2019 in the US and Europe. We are nothing without your trust, your encouragement, and your daily support. Truly.

With a go-to team of brilliant leaders eager to jump in at a moment’s notice, we have an unmatched capability that makes up the essence of RED, Rapid Executive Deployment. While you hail from around the world and your skills and abilities are each unique, we can sum up your excellence with a common and shared passion and unstoppable energy to give your best in everything you do. We know you love the people and organizations you lead, and cannot say thank you enough for teaming up with us.

Read More
September 3, 2019

Why Most Change Initiatives Fail. And What to Do About It

Why Most Change Initiatives Fail. And What to Do About It

“Write down a change you would like to make in an organization that you are currently with…or  change in the marketplace. Any kind. It can be a big change, it could be a small change – strategic, tactical, something you want people to start doing, something you want people to stop doing,” says Jeff Leitner as he looks around a room filled with CEOs, CFOs, CIOs, and other C-Suite executives at this year’s InterimExecs’ RED Team meeting. He continues “You’re change is absolutely, almost certainly going to fail. It’s not your fault. It has nothing to do with your particular genius – has nothing to do with your insights. Changes fail. They almost always fail.”

Jeff Leitner knows a thing or two about change and innovation. He spent the last 20 years improving organizations from the US State Department to NASA, Starbucks, Panera, and the Dalai Lama Center for Peace. In a world where innovation and disruption is key, the question is why does change rarely stick in organizations, markets, and society? Jeff has dedicated years to studying why change fails and in his most recent speaking circuit, is sharing what leaders can do to be more effective in leading change initiatives.

Read More

August 2, 2019

Boards Must Address Technology Risks and Opportunities

Boards Must Address Technology Risks and Opportunities

In the tsunami of digital transformation, it has dawned on boards that disruptive technologies pose not only a great opportunity, but also bring inherent risks. New technologies bring great promise to help businesses grow, improve efficiencies, and seize new markets. On the other hand, when an organization decides to embrace new technologies, they will come face-to-face with new business models and regulations that are unlike what they have ever seen before. 

Boards may not be fully equipped to face the onslaught and speed at which new technologies are infiltrating the business sector. In fact, according to the 2018–2019 NACD Private Company Governance Survey, 80% of directors say that boards need to expand their knowledge of the challenges and risks of emerging technologies. 

Read More

July 1, 2019

Why Strategic Planning for Nonprofits Needs High Priority

Why Strategic Planning for Nonprofits Needs High Priority

Many nonprofit organizations and foundations struggle with limited capacity and do not have the luxury of time or surplus of funding to reflect on how each task at hand contributes to their overall strategy. Nonprofit employees and board members can be overwhelmed by day-to-day activities, making it a challenge to take an introspective step back and improve strategic management.

Unfortunately, this puts up blinders as to where holes exist in their systems and plans. This can also lead to problems in accountability, a weak strategic plan, not to mention the staff stretched thin. 

Nonprofit organizations typically are faced with several business challenges from inefficiencies in operations and deficiencies in program planning. Other issues nonprofits face are limited resources, and aligning their culture with clear, measurable business goals.

Read More

February 21, 2019

An Interim CFO Brings Financial Stability & Profitability To Healthcare Providers

An Interim CFO Brings Financial Stability & Profitability To Healthcare Providers

Healthcare spending was projected to increase by 5.4 percent annually from 2017 to 2022 according to the US and Global Health Care Industry Outlook compiled by Deloitte. That’s over $10 trillion by 2022.

The United States continues to outpace other countries on projected spending — both in public and private healthcare — with a grand total of $5.7 trillion projected from 2017 to 2026. Yet with nearly double the spending compared to similar countries, the positive health outcomes are worse in the United States.

Healthcare organizations who want to stay competitive must deliver positive outcomes while running a sustainable, profitable business. Many healthcare providers are now opting to outsource the expertise of interim Chief Financial Officers (CFO) to steer them toward a healthy financial future.

Read More

February 12, 2019

The Strategic CFO

The Strategic CFO

“How many businesses find their data to be a complete mess?” Christie Kelly, former CFO of JLL Real Estate questioned as she and a panel of high-profile CFOs discussed the changing landscape for financial leaders at an event held by the National Association of Corporate Directors.

In today’s world every business now seems to be in the game of being a technology business. That means that a new importance is placed on data, especially for CFOs.

“How do we transition to turn it (data) into insights, and how does that change finance to have more technology, process, and Six Sigma?” Kelly said.

The role of the CFO has evolved, due to the accelerated pace of the digital age. How? A strategic CFO drives transformational change. A CFO must not only understand a business from start to finish to provide financial excellence, but also must predict what is coming from a strategic standpoint and be ready to evolve.

Read More