In the Computerworld article “The latest in IT services? CIO hired guns“, Robert Jordan, CEO of the Association of Interim Executives explained to Computerworld that interim executives are responsible for “hiring, firing and making decisions”.
Thank you to RED Team members, Damon Neth and Dean Samuels, who also provided great insights. Dean Samuels, Interim CIO, said “This is exactly what the future is. We’ve gone from an IT asset portfolio to an IT service portfolio. So if IT has transformed into a services portfolio, why wouldn’t you get an IT service-oriented CIO as a service?”
Interim CIO, Damon Neth explained the honesty that comes with interim executives adding “I have no problem selling unpopular messages if I believe that they’re right for the organization or addressing the elephant in the room.”
In a digital world where everything that can be measured is measured, do you still need strong leadership? What difference does management make when data steers the ship?
Many technology companies have the mindset that data trumps all, but are some companies suffering as a result? Look to the news to see how this is playing out:
•Zenefits’ founder Parker Conrad was thrown out for creating a culture that violated insurance laws
•Uber’s CEO resigned for multiple behavioral reasons (writing code to defy local authorities; sexual harassment allegations; staff and senior team exiting or fired)
•Volkswagen techies wrote ingenious code to defeat auto emissions testing. Smart, but illegal.
After two years of unrelenting decline and $6M in losses, the owners of Styrotek, a packaging manufacturer for table grapes decided they needed to bring in outside help to turn things around.
Styrotek was founded in 1973 by a group of grape growers who came together to produce boxes for their farming operations in the central valley of California. While manufacturing was not originally in the company DNA, the business got to the point of creating a consistent product and quickly grew along with the grape industry.
That was until 2014 when things started to go sideways. “The company was somewhat in disarray,” Chris Caratan, one of the owner’s of Styrotek said. “Our management team at the time was not working up to par and there were some surprises in year-end numbers.”
The truism that every business needs marketing cannot be denied, even by businesses that owe the majority of their growth to word-of-mouth referrals. However, confusion arises when businesses mistake marketing for sales. In simple terms, marketing builds demand, sales closes the deal.
The goal of marketing is to increase sales and, by perforce, grow revenue. The trick is in measuring the success of your marketing efforts. What metrics do you use to measure marketing effectiveness? Although profit is the ultimate goal, it’s not the sole measurement of success. Other benchmarks along the way indicate the effectiveness of your marketing efforts.
“Action and feeling go together, and by regulating the action, which is under the more direct control of the will, we can indirectly regulate the feeling.”
– William James
One of the biggest benefits business owners report when they take on fresh leadership, whether an interim or fractional executive is a sense of relief. Of having done the right thing. They report the feeling that someone else shouldered a burden that was becoming impossible. Just too large to handle alone, or with the current resources on hand.
The real reason behind this for all of us business owners is that the challenge is just too painful to deal with on our own. Whether it’s family dynamics, lack of future planning, or declining business, we get embroiled in the inertia of our organizations. Sometimes the pain is so vast, the only solution is to sell the company.
When InterimExecs sent in RED Team member and Interim CEO, Michelle Barnes, into the Tourette Association of America, the organization was in a state of flux. The CEO had exited, staff was demoralized, the office was in a bit of chaos, and everyone was questioning what the future would look like.
An interim leader is an accomplished operating executive, highly skilled from extensive training in corporate or entrepreneurial environments. Interim leaders focus on helping companies through periods of change, transformation, or transition. Assignments can run anywhere from a few months to two years, but the executive is usually focused on helping a company get to the next stage of growth or turnaround. Examples of when an interim may be brought in include:
Putting processes, systems, controls, and operational improvements in place
Ramping up a company’s growth to prepare it for investment or sale
Increasing sales, brand positioning and awareness
Interim executives engage around the world with client companies ranging from startup to growth mode, private to public to nonprofit and NGO, multibillion dollar robust multinationals to struggling or failing businesses, products and divisions.
Basketball legend Magic Johnson has made a success of his career as a business owner and investor. But it didn’t come easy or naturally. One of the mentors he credits with imparting priceless lessons is Creative Artists Agency co-founder Michael Ovitz. When Magic was just about to embark on a career in business, the legendary Hollywood agent told Magic that he’d never become any better than the people around him.
This made sense to Magic, and the next day he fired his entire staff. Magic detailed this recently at a speech delivered to the Association for Corporate Growth in Las Vegas, showing the audience by placing his hand at chest height and saying “my team could take me here” and then raising his hand to head level and saying “but they couldn’t take me to here.”
Interim executives, or interims, have recently become an important tool that organizations can use to effectively address a variety of pressing needs. Having said that, many companies are either unaware that interims are even available or appropriate for their current situation. The most common understanding of the role of an interim is to fill an immediate need in the executive team caused by a sudden voluntary or involuntary departure. In this case, a seasoned executive can step right in and allow the company to progress unabated. While much of what an interim does is similar to consulting, successful execution is critical and unique to the role of interims. This blog presents seven case studies to help companies better understand other instances where interims can help. There are certainly more examples, but these are representative. While seven represents everything from the apocalypse to luck in gambling, we’ll stick with seven.
Interim Execs works with companies, board members, and investors to match them with C-level talent wherever needed. And it’s not just about title – our Rapid Deployment Program looks at where you are at, and where you want to go.
Maybe there is a leadership gap, or maybe you are trying to get the business to the next level – expanding overseas, acquiring and integrating other businesses, transforming technology and operational processes. Maybe you see trouble on the horizon if you don’t make changes fast.
Interim executives specialize in quickly assessing your business, creating a strategy moving forward, and actually executing on it. Yes, that means doing the work. This is not consulting. We don’t deliver long reports that you can’t act on. We fix. We optimize. We grow. We lead.
First-year Change Agent members have access to the Interim Institute’s 4 hour audio program on the Fundamentals of Interim Management, and a one-hour strategy session to help jumpstart their interim career.
*$200 additional charge for Accelerator Program only applies for first-year members. After the first year, membership renews at $485/year.
Interim Nonprofit Executive
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