The most valuable asset in your business is not any one product, not a patent or even your brand, it’s the talent you have working for you. Experienced, confident managers with the decision making nous to steer their teams through difficult times, and extract the maximum amount of value from any opportunity while exposing the company to the minimum amount of cost.
It all comes down to good decision making, and that’s never more vital than when times get hard. When you’re pressed for resources, and potentially looking at the end of your business you need people who know how to prioritise: who can see what’s most important for the business and get it completed without delay, so they can turn to face the next challenge. If the project you need to complete to ensure a healthy flow of revenue is overrunning and overbudget, you need a manager in charge can set clear deadlines to get it done, not someone whose indecision is dragging it out further.
In short, in tough times, you need top talent to keep your business working, and the skills in question aren’t necessarily those that your team have a chance to practice every day. Firms that value considered continuity won’t have experience making quick calls to create quick results, and businesses that are lead by sales and the drive for constant growth don’t have the voices calling for more considered decision making when they need to take decisions with ramifications that stretch years into the future.
In times like this, it may be worth looking into executive interim management. Interim Executives are experienced consultants who specialise in coming into a business with a specific problem to solve, and rolling up their sleeves to solve it. They’re the ideal person to put in charge of that overrunning project, because they have a clear remit, and the authority to make use of the resources available as they see it until the task is done.
The best thing about using Interim Managers is that part of their job is to add their skills and expertise to your business, so you should be better equipped to avoid such budget shortfalls, deadline over runs and other disasters in the future. The influence of the time the Interim Executive spent with you is felt long after they have departed, and your business is the better off for it!