5 traps for new Interim Managers.
Imagine Interim is a huge market!
The French market of Interim Management is about 15 times smaller than the Consulting market and there are simular differences in other countries. In reality, this is still a niche market, even if before the Covid crisis the average annual growth in France was about 20% on the last 5 years.
Imagine you can do it with a simple snap of the fingers!
Hard skills and experience are very important to find a mission, but appropriate soft skills, methodology and tools are mandatory to succeed. In many countries there are specific Institutes and Associations that can train you on these topics. Many managers think that changing their business card with the title “Interim Manager” is enough, but it isn’t. New Interims must also analyse the impact of this intensive activity on their private life.
Imagine that Interim Providers will find your first mission!
Interim Providers only cover about 50% of the French market and generally engage managers they know well or who have already done several missions. So it is important that you develop the habit of finding missions by yourself, that you build a network of business partners ( Consulting companies, Lawyers, Accountants, Chamber of Commerce… ) and that you join an Interim Manager Association, not to stay alone.
Imagine you will find a long-term contract at the end of your mission!
Interim management is not always a good idea when you are in a job transition. If you start a mission with the willingness to stay in the company, it is the best way to fail your mission. Besides it can be difficult afterwards to leave this Interim Manager position and to come back to a long-term contract position.
Imagine you will have enough time to do your mission!
Time is “ public enemy number one” of Interim Management. The client often underestimates the time needed to do the mission and is always in a hurry. A key success factor is to split the scope of the mission in different phases and negotiate each part. Another one is to know well how to distinguish what is urgent and important to do in your mission and to be assertive.