Interim Management - Advice Wanted Please
Discussion
My brother has recently been made redundant from his job and is thinking of a change of direction in his career. He's been told he'd be good at interim management; going into companies, assessing their problems and sorting them out; a troubleshooter I suppose.
He'd very much like to speak to anyone who is already in this field to find out what the job actually involves, and more importantly, whether what he [i]thinks[/s] the job involves is what it is really like.
If anyone is already in the field, would they mind my brother getting in touch and having a chat?
Thanks in advance.
He'd very much like to speak to anyone who is already in this field to find out what the job actually involves, and more importantly, whether what he [i]thinks[/s] the job involves is what it is really like.
If anyone is already in the field, would they mind my brother getting in touch and having a chat?
Thanks in advance.
I'm not an interim manager myself but my work brings me into contact and I have worked with plenty. I can't give him any direct advise therefore but I would give him some pointers:
1. Experience in interim position is what counts - going in, sorting and out in quick timescale. If he has been an employee and sorted out the issues it may not cut the mustard;
2. He'll struggle to get the first three or so appointments - until he has had this number under his belt he runs the risk that nobody will take him seriously. I was discussing this very issue with the ex head of the STP recently - the only solution we came up with is discounting your fee until you got experience - but that's a double edged sword;
3. He'll need to be able to stomach a good 6 months without an assignment (although admittedly they're becoming quite frequent again now!);
4. Most appointments are by reputation with the Banks. STP/TMA etc. all help but generally the appointments need the consent of the Banks so he needs to be well known and trusted with them. Most Bank managers I know only have 3-4 interims they trust (not the same interims!)
5. I would suggest that he sticks with the industry he's got experience in, at the start at least, and gets round the Banks and on the books of an interim manager placement firm - eg. Ashton Penny, but there are loads;
6. He needs to me self-motivated, hard working, a good people manager, very capable in his field and willing to relocate at short notice.
1. Experience in interim position is what counts - going in, sorting and out in quick timescale. If he has been an employee and sorted out the issues it may not cut the mustard;
2. He'll struggle to get the first three or so appointments - until he has had this number under his belt he runs the risk that nobody will take him seriously. I was discussing this very issue with the ex head of the STP recently - the only solution we came up with is discounting your fee until you got experience - but that's a double edged sword;
3. He'll need to be able to stomach a good 6 months without an assignment (although admittedly they're becoming quite frequent again now!);
4. Most appointments are by reputation with the Banks. STP/TMA etc. all help but generally the appointments need the consent of the Banks so he needs to be well known and trusted with them. Most Bank managers I know only have 3-4 interims they trust (not the same interims!)
5. I would suggest that he sticks with the industry he's got experience in, at the start at least, and gets round the Banks and on the books of an interim manager placement firm - eg. Ashton Penny, but there are loads;
6. He needs to me self-motivated, hard working, a good people manager, very capable in his field and willing to relocate at short notice.
Edited by sleepezy on Monday 22 October 20:22
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