2008 is going to be a great year for proven Interim Managers….

By Clive Sexton on March 25, 2008 3:39 PM | Permalink

2008 is going to be a great year for proven Interim Managers and Interim Management in general. The last 12 months have been tremendous for Interim, Executive Search and contingent contract and permanent as the forthcoming Harvey Nash plc results will soon testify. Within Impact Executives our soundings amongst our clients suggests the emphasis this year will be on utilising even more Interim Managers. This is good news for those with proven experience and at least two assignments under their belts. But beware the influx of permanent managers who, with a softer permanent market, are purely looking for an 'Interim port' in a storm and are frenetically approaching Interim providers and clients directly, and so will lessen the excellent reputation that the majority of true Interim Managers have been building in both the Private and Public sectors over these last few years. But all Interim Managers at one point did not have Interim Management experience I hear you say! I suppose it is up to the provider community to rigourously assess, conduct competency based interviews and reference, as we do, to pick out the potential stars!

I discuss with Interim Managers many times a day the skills, experience and competencies required at this stage on the economic curve, but I have cherry picked the advice of some of our leading business people from a recent article, some of which might be useful whilst you are on assignment in 2008:

Sir Martin Sorrell-Group CEO, WPP

From an ad man's perspective..

Be as flexible as possible in terms of your costs, particularly headcount (he suggests greater use of freelance/Interim and consultancy);

Focus on growth markets globally and also on new areas of technology.

Dawn Gibbons, Chairman, Flowcrete (floor manufacturing)

From a Manufacturer's perspective

Diversify products and geography, go East. Keep innovation and marketing spend up. Put your lean and inspirational team together to determine new markets and engender pride in your brand;

Keep close to your teams, socially as well as for planning, keep a check on headcount and redeploy to new markets if you can.

Jon Moulton, Managing Partner, Alchemy Partners

From a Private Equity perspective

You need sensible funding structures and restructuring skills, gird up for the unexpected bad news, and don't panic, react as constructively as possible, even if it is a case of calmly calling for the undertaker - you need robust managers who won't panic;

Learn the ramifications of corporate insolvency and doing business in a downturn.

Julie Meyer, CEO Ariadne Capital

From a Seed Investment perspective

It helps to have an agile model: a company built in a downturn is forced to be a Fiat Punto, not a Mercedes S-Class - it establishes early financial disciplines. You can learn a lot about scale and efficiency by being online. Business models are being reworked to work for every party in the food chain -the eco system model. Bring in someone who is not going to see the same sacred cows (Interims?);

If you were to set up your business today what would it look like? Can you move from here to there, or is it too far? Diversity of people is a tremendous asset. If you're all one culture, you have to ask: where's our blind spot?

Adam Balon, Co-founder, Innocent Drinks

From a Food and Drink perspective

Don't panic and don't build bullish plans for the immediate future, don't slice investments in the business that will serve it well (once things pick up again);

Don't be too quick to throw out a strategy for expansion or growth, although you may want to take a look and adapt it.

Alex Connock , CEO, Ten Alps

From a Media perspective

Diversify. There's always a (profitable) client that can come out of left field. Consider buying in a recession. Present a strong plan to instituitional fund managers. Ask yourself how we can re-tool for a new reality. Have repeatable brands that make money whilst you're asleep. That Napoleon quote about 'bring me lucky generals' is so true.

History just rolls on. All you have to do is survive. It doesn't matter how many times you fail, you only have to succeed once. It is an annoying aphorism, but it is true.

Richard Mason, Joint MD, Moneysupermarket.com

From an Online Price Comparison site perspective

Move your business online - high street darlings are falling out of favour; online sales are phenomenal, the internet is becoming a global market place for white goods and electrics. Every business needs to look at how it can maximise its online activity.

Nigel Rich, Chairman, Segro (Slough Estates Group)

From an Industrial Property perspective

Reassure employees. They will be reading the headlines and may be concerned. For directors this may not be the best time to take a huge risk. Retain a strong balance sheet and ensure you have available cash, both as a signal of strength and for post recession opportunities. Some sectors will have to batten down the hatches.

After a prolonged period of growth comes market change. Being prepared means not over-gearing the balance sheet; taking measures for the longer term; and in property, not embarking on developments without tenant commitment. It also helps to have cash in the right bank.

So, wishing you all a tremendous 2008 with challenging assignments. The one word that virtually all my clients are talking about is 're-alignments', making for some interesting times ahead. Make sure you keep us updated; the most effective way is to send CV updates to info@impactexecutives.com and new Interim Managers with previous Interim Management experience please register online - it is the most effective way of getting onto our radar quickly.

Inspiration and some quotes gratefully received from the IOD Director Magazine