July 31, 2023
John Lafferty

How an Experienced Interim CFO Can Counter Cash Flow Mismanagement

John Lafferty | CFO
How an Experienced Interim CFO Can Counter Cash Flow Mismanagement

Cash flow mismanagement is a common problem among small and mid-sized businesses. But many owners do not have the experience to precisely pinpoint where cash flow mismanagement has occurred, nor the background to develop plans designed to counter those cash flow issues.

A typical small or mid-sized business owner can spend hours examining the company’s financial statement and nevertheless fail to see the underlying causes of cash flow problems, whether they be mismanagement of receivables, problems in pricing strategy, erosion of margins, escalating operational costs or other cash flow problems.

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January 31, 2023

Why ALL Executives – Not Just the CTO – Need to Understand Technology

Why ALL Executives – Not Just the CTO – Need to Understand Technology

Did you just buy new tech for your company? Congratulations! Now, it’s time to start thinking about an upgrade.

So says David Mitchelhill, a long-time interim Chief Technology Officer.

Mitchelhill, who served in various CIO roles at organizations like Klarna, Freeletics, and the United Kingdom’s Ministry of Justice, is a sharp-tongued critic of everything from Salesforce to Microsoft to company owners who don’t take the time to learn about and understand technology.

By the time a company’s technology solution is a year old “it’s already decrepit,” he says.

The speed of technology development is doubling every year. Companies that don’t have AI-driven decision-making are now too late for three reasons:

1. Difficulty acquiring complex knowledge  

2. Scarce talent expertise 

3. Time to interweave AI-driven knowledge into the company’s fabric  

If this describes your company, don’t feel like you’re alone, he says. “I mean, Microsoft missed the internet — Marc Andreessen and Netscape completely blindsided them!”

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March 27, 2019

Needs Assessments & Mentors Are Vital To Your Organization’s Future Success

Needs Assessments & Mentors Are Vital To Your Organization’s Future Success

It is likely that every organization will reach a crossroads where they must decide to grow, transform, or stagnate. No business opts to stand idle but by default, many do. In fact, when it comes to achieving sustainable growth, only 20% of organizations find success. How do organizations find themselves in a standstill? Usually, leadership has their hands tied — whether they are at a loss as to which direction the organization should go, are bound by layers of bureaucracy, or do not have the capacity to drive much-needed organizational change.

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March 19, 2019

Warfare at the Top: CEO vs Chairperson Battle Royale

Warfare at the Top: CEO vs Chairperson Battle Royale

We just experienced possibly the largest wave of CEO departures in recent history. Was it due to falling profits? Poor succession planning? Or is there more drama behind the scenes? Think firings, hurt egos, politics, and personal infighting. Author Isabelle Nüssli uncovers one of the big reasons for turmoil at the top ― the fractious relationships between egos at the executive level, particularly between CEO and chairperson. Hence the brilliant title of her new book, Cockfighting: Solving the Mystery of Unconscious Sabotage at the Top of the Corporate Pyramid.

“When you read the news, usually the reason [given for the CEO leaving] was strategy misalignment or different leadership style or different chemistry, etc. But the story that is not put out to the public is that there was a relational conflict, which apparently is the case most of the time,” says Nüssli.

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December 18, 2018
Robert Jordan

What is My Business Strategy? Owners Need a Game Plan

Robert Jordan | CEO, InterimExecs
What is My Business Strategy? Owners Need a Game Plan

No organization is immune to challenges, not if it has any ambition. But how do we as owners and leaders put our strategy hat on to see down the road, or attempt to see, to predict where markets will go, how customers will act and react? To play the great game of chess in the real world – which is strategy.

Sometimes that is easier said than done. The eloquent Mike Tyson put it so well when he said, “everybody has a plan until I punch them in the mouth.” We would do well to remember how limited our brilliant strategies in fact are, how fragile in the face of ambiguity, uncertainty and future black swan events.

Just look to history to see how companies have been blindsided with the punch they never saw coming. Kodak invented the first digital camera in 1975, but put launch on hold in fear of cannibalizing their film business. We all know the story from there….Kodak who? Or take Blockbuster – which failed to pivot when Netflix showed up. And then Borders and Barnes & Noble, crushed under the Amazon onslaught. And the examples of business strategy gone wrong go on…

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June 24, 2016
William Mince

An Executive To Do List: How Interims Quickly Understand the Organizational Health of a Business and Team

William Mince | Interim CEO, COO, Turnaround

Interim executives are becoming a popular alternative to using a consultant or leaving a position vacant while a search for the right person is conducted. An interim executive also brings a fresh, unbiased review of factors driving organizational health and operational results. The interim executive does not waste time or company resources trying to secure a full time job, but is driven by the opportunity to make changes which lead to a sustainable value increase for all the stakeholders of the business. The client and their customers can expect immediate improvement in delivery, quality, and cost while a search is conducted to fill the permanent position.

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May 26, 2016
Richard Lindenmuth

When Business Improvement and Transformation Is Needed, Look to Interims

Richard Lindenmuth | Interim CEO, COO, CMO, Turnaround

Today companies operate in a complex global economy which is more diverse, connected by the Internet, and not very predictable. Many companies still pursue classic business approaches (inside-the-box thinking) with a focus on short-term results. Failure to focus on business improvement and adapting to the new business environment can cause many issues and eventually lead to delisting from a stock exchange, bankruptcy, or liquidation. How many of 1960’s “Fortune 500” companies still exist today?

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September 18, 2013
Scott Philips

Where is ‘There’?

Scott Philips | Interim CEO, CSO, COO, Turnaround

“Would you tell me, please, which way I ought to go from here?”

“That depends a good deal on where you want to get to,” said the Cat.

“I don’t much care where –” said Alice.

“Then it doesn’t matter which way you go,” said the Cat.

“– so long as I get somewhere,” Alice added as an explanation.

“Oh, you’re sure to do that,” said the Cat, “if you only walk long enough.

(Excerpt from Alice’s Adventures in Wonderland, by Lewis Carroll)

So many people ask the question that Alice asks: What road should I take? It seems like I hear this question every day. My answer is always the same: Where do you want to go? Granted, this is a tough question. It’s tough because, like Alice, it’s easier to think about survival in one’s current circumstances than it is to think about the ultimate destination.

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June 12, 2013
Scott Philips

A Simple Truth, that Isn’t So Simple

Scott Philips | CEO, CSO, COO, CMO, Turnaround

A simple truth in business is this: It’s easy to set a goal. It’s hard to then break it down into specific action steps, and even harder to execute it to a successful conclusion.

In thinking about the process of planning, what came to my mind was a mountain climbing trip I took on Mt. Hood, an 11,000 foot mountain in the Oregon cascades, with three of my buddies in the summer of 1981.

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