C is for…Client

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Clients are your life-blood as an interim.  Good client relationships ensure great recommendations and contract extensions.   Bad ones can damage your professional reputation and your wallet – Indemnity Insurance, anyone? Here’s my quick-fire guide to building and managing client relationships:

Choose wisely…

This is one of the harshest lessons I’ve learnt in my time as an interim.  When you’ve had an extended period of down time, it’s tempting to take the first assignment that comes your way.  We all have bills to pay. In tough markets you will at times make choices to keep your children in shoes and preserve the roof over your head. 

Be warned!  Choosing the wrong client can be as disastrous as having no client, so if you have doubts – whether it’s about client fit, culture, scope of assignment – listen to your gut, and just say no!    Badly chosen assignments are a bit like Brussels Sprouts – they leave a bitter taste!  Trying to do something you are not suited for can damage your reputation, erode your confidence and impair your ability to secure future work.

Act like a diplomat, deliver like a demon…

As an interim you are expected to be experienced and objective.  So, while you are probably over-qualified for the assignment, it’s implicit you also have the sense not to get embroiled in the organisational politics of your client.  Now, I’m not suggesting that you simply nod like one of those plastic dogs you find on the dashboard of a white van, but it’s important you remain neutral.

CEO a little combative?  Colleagues about as useful as a chocolate teapot?  Suck it up, sunshine!  As an interim, you are there to deliver, deliver, deliver – not pass judgement of the relative merits of the Executive team, unless you are in HR and that’s the brief.  Picking the wrong faction will return to haunt you, especially if the client in question ends up in another organisation.

Think like a CEO…

One mistake many interims make is thinking they are simply there to do a job.  Well, yes and no. Certainly, you’ve been hired to fulfil a specific brief, but to stand above the herd, to build rapport and trust; you need to put yourself in a CEO mindset.

Good CEOs are also single-minded and clear about the outcomes they require.  Good interims share the same clarity of purpose and go to work with the outcome in mind.  In practice this means being clear who your client is, not just what’s reflected in their title. It also demands that you are crystal about the deliverables of your assignment and the expectation of your client.

Great CEOs also take accountability when things go wrong.  Great interims are no exception.  If things go awry; communicate immediately and openly.  Take visible steps to fix the problem, even if that means transitioning off the assignment. Your clients will respect your integrity.

And finally, the CEO is accountable for creating value for shareholders by setting the vision and strategy, and then delivering real results off the back of that promise.  As an interim, you are tasked with creating value for your clients.  Very often it’s not what you do, it’s how you do it that cements the client relationship and ensures a good outcome for all.

Lisa Bondesio is the founder of Chiridion Consulting. She provides common sense to corporate clients in times of transition and specialises in business change, strategy and stakeholder engagement. Her favourite clients are those who pay on time!

B is for…Business Development

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Sometimes as an interim, finding the next assignment can be akin to climbing Kilimanjaro in flip-flops!  You get cold feet and there are easier things to do with one’s time.

Any seasoned interim will tell you business development matters.  When you are immersed in a live assignment, it’s difficult to make time for sleeping and eating, never mind schmoozing clients and service providers to secure the next piece of work.  But this is exactly where you should be focusing your efforts.  Always helpful to know where the next revenue stream is coming from in inclement economic times! 

At its core, business development is simply a way of growing your business – whether that’s by increasing market awareness with Interim Service Providers (ISPs) growing the number of clients you have, or putting yourself in pole position for a contract extension.

Business development isn’t rocket science.  I’m not saying securing that elusive next role or project opportunity is a cake walk – it does require focus and effort, but it’s not complicated. Here are a few simple principles that can make the difference between time in the boardroom and time on the bench:

Rule #1: Don’t be a one-hit wonder! Business development isn’t something you do just once.  It should be a consistent and constant activity – if it isn’t already a part of your business plan, stop reading this blog straight away and write out the names of 10 clients you want to target!

Rule #2: You are only ever as good as your last assignment. Business development happens as much when you are on assignment as it does when you are between assignments.   It’s far easier (and potentially cheaper) to secure work with a client who can see first-hand how you deliver.  Keep your wits about you and stay primed for the next opportunity – and don’t forget to get some decent recommendations when you move from one project to another.

Rule #3: Visibility matters.  Even if you are not working, it’s really important to stay visible – whether you do this via marketing, social media, actual networking, speaking engagements or a round of phone calls with former clients and contacts – unless you are changing career to become a Buddhist monk, it’s wise to let people know you haven’t gone into hibernation.

Rule #4: Focus, Focus, Focus.  Clients and providers are much more likely to place you if they are crystal about what you offer and why you differ from the competition.  I’m always slightly amused by twitter and linked-in profiles that seem to be a series of random adjectives strung together.  Unless you are selling to a pack of cards, there is no point in being a jack of all trades.

If this all sounds a bit daunting, take heart – there is plenty of help available out there.  In the UK, organisations like Business Link, Interim-Hub and the Institute of Directors provide plenty of courses and resources to support individuals who don’t view themselves as natural business developers.  Practice makes perfect!

Lisa Bondesio is the founder of Chiridion Consulting. She provides common sense to corporate clients in times of transition and specialises in business change, strategy and stakeholder engagement. She has climbed Mount Kilimanjaro, but thinks business development may be easier!

A is for…Accountant

Image: Dreamstime

The first rule of interim really should be that time is money.  Successful interims direct the majority of their effort towards focused activity that builds revenue – in other words they spend time on marketing, networking or delivering to clients.

However, unless you actually are an accountant (in which case you don’t need to read this blog!!) you are far better off leaving finance to a professional.   Many interims don’t give adequate consideration to the financial practicalities and then spend valuable hours poring over their accounts in a misguided attempt at doing it themselves.  Anyone who has had to complete their tax return at the last minute knows this is both a risky and tedious strategy.

The right accountant can save you time and money.   Apart from the very practical book-keeping and accounting services they provide, your accountant is a source of expert advice – and can help you navigate the more complex areas of company law, accounting practice and tax planning. Often, they can provide business advice or other information to help keep your business on track as it grows.

This leaves you free to spend your valuable working day actually doing work, instead of worrying about VAT returns, expenses and invoicing. Let’s face it, the quarterly HMRC newsletters that accompany your VAT return hardly make for riveting reading. (Apologies to VAT specialists everywhere who probably do enjoy these missives!)

Your accountant is likely to become your most valuable advisor, so it’s important to develop a good relationship and know that your finances are being handled by someone you trust.  Here are my top tips for selecting your bean-counter of choice:

  • Qualifications count. Make sure your accountant is fully qualified, for example as a certified or chartered accountant. In most cases, these qualifications will be displayed on any promotional material or their website. If not, make sure you ask for – and get – the accreditation details.
  • Sector Experience.  Hiring an accountant with relevant experience provides additional benefit to your business.  For instance, accountants that work primarily with interims will have in-depth knowledge of the financial challenges associated with this business sector, which can prove useful.
  • Compare, compare, compare. Referrals and personal recommendations are a good place to start, but don’t just go with the first accountant you meet. Ask to speak to existing clients before signing up.  Try to compare the services of at least three.

Lisa Bondesio is the founder of Chiridion Consulting. She provides common sense to corporate clients in times of transition and specialises in business change, strategy and stakeholder engagement. Some of her best friends are accountants!

Do you see what I see…? How perspective builds engagement in times of change

Anyone remember ‘Magic Eye’ pictures… or more precisely, autostereograms?  You know, those  two dimensional patterns that allow some people to see the hidden 3-D images contained inside the picture. The trick is to shift your gaze.  I often think it must have been really difficult to sell the concept – especially if your prospective client was someone who just didn’t get it…  ‘Really, that is a penguin juggling a white rabbit!’  

And like the picture of the conjuring penguin, engaging people during times of organisational transition can be just as much of a hard-sell.  Change can be uncomfortable for most folks, especially if it’s imposed and not chosen.  Merger. New CEO. Restructure.   He-l-lo Dotty… suddenly you and the dog aren’t in Kansas, any more!  It’s clear that change remains a feature of the corporate landscape as economic, technological and demographic shifts continue to affect the way we work and interact with one another. Still,  it can be pretty difficult to rally the troops when said troops are – for dear life – hanging on to the rug management have just pulled out from under their feet.

We’ve all heard the phrase ‘stakeholder engagement’, but in badly-led organisations that boils down to a few road shows and a set of PowerPoint slides for managers who are so busy, they think ‘reply all’ equals ‘reaching hearts and minds’.  And if you think I am making this up, then just consider the example of The Accident Group (TAG) who, in 2003,  fired 2,400 people by text message when the company went bust here in the UK.   Change is as much about communicating the art of the possible, as it is about making people do or believe something different.

So, how can you get the best out of people affected by change?  The trick is to shift your gaze.  This is what separates good change agents from the masters.  Good change agents know they need to communicate clearly, and so they ask questions, identify the issues, and then tailor their words to the audience in question.  Masterful change managers go one step further…they try to understand the other person’s perspective before they communicate.  Perspective is a gift – it can show you new ways of looking at old problems, and it can help you to see where your employees are coming from when the CEO launches the latest change initiative.   This doesn’t mean that you will see eye-to-eye with everyone who is part of the change process – this is the real world, not Oz – but making an authentic effort to stand in someone else’s shoes for a while, may mean they walk with you.

Stormy weather…how to handle a crisis

The devastation wreaked by Sandy on the Eastern Seaboard has suspended trading on the NYSE, closed airports and turned one of the most vibrant cities in the world into a ghost town. Watching  footage on last night’s news, it’s been interesting to see how US leaders and local officials have mobilised their resources and crafted their messages to the American people.  A very different response to that of Hurricane Katrina, where the former US President was caught napping. Hard lessons have been learned – it’s very clear that action (rather than vacation) is being taken.

This got me thinking about the best way to deal with a corporate crisis. I admit, unless you are a paramedic or doctor, workplace dramas are not of the same magnitude as Super-storm Sandy. It’s business after all, not brain surgery!  However, get it wrong, and the collateral damage & reputational aftermath can be as devastating as a botched lobotomy.

So how can you handle a crisis?  Here are my top tips:

  • Stuff happens…be ready when it does. No matter how organised you are, there will always be things in business that arrive like distant relatives – unannounced, inconvenient and staying for a while.  Redundancy, clients that won’t pay on time, technological snafus, product launches that bomb.  Although most large corporates have contingency planning built into their strategy, there is always an eventuality that has not been accounted for. The recent banking crisis is a case in point.  Even small businesses and entrepreneurs are not immune to Murphy’s Law. The point is, you need to acknowledge that things go wrong from time to time and be prepared to take remedial action when this occurs.
  • One, two, three…breathe. Headless chickens are not terribly attractive. Neither are ostriches. So when things go wrong, avoid the temptation to race around at breakneck speed trying to fix things. Ever heard of the ‘Law of Diminishing Returns’?  I realise this may seem totally contradictory to the point I’ve just made, but the distinction here is:  you take stock, not a nap! Consideration, not procrastination.  I also don’t have to tell you what part of the ostrich is visible when it’s head is stuck in the sand.
  • Get the right help. Depending on the crisis in question, you may need external advice.  Don’t make the mistake of toughing it out on your own, because you are too proud to ask for help. You wouldn’t go to a car mechanic to get your tooth filled, would you?  Make sure you have access to the best team you can get – especially if the crisis is legal, financial or medical.  If you are a small business, and cost is an issue your local business bureau or citizens advice centre can provide access to appropriate resources. And remember your support team can be a virtual posse or a trusted group of colleagues.
  • Words and deeds.  When dealing with a crisis, make sure that any action you take is followed up with clear communication. Whether it’s your customers or employees who are being affected, it’s vital that you tell it like it is. Don’t fudge the issue, don’t make excuses. To paraphrase the philosopher Don Miguel Ruiz, you must be ‘ impeccable with your word’.  Hard though it might be, that means matching language with action.  Do what you say you will do to make things right. And, as crises are often as unpredictable as the weather, be prepared for things to change rapidly. Adjust your communication accordingly.

Finally, just as the US clean-up will begin once the storm has passed, the real work usually starts when you have to deal with what comes next.  As John F Kennedy once said: ‘When written in Chinese, the word “crisis” is composed of two characters. One represents danger and the other represents opportunity’.

What do you think?  How do you handle a crisis?  Share your top tips on the blog.

The rise of the chameleon…why adaptation matters in organisations

Image: Dreamstime

What do Chameleons, Stick Insects and Squid have in common?  They are all creatures that change colour depending on their surroundings, enemies, temperature or mood. In the natural world this ability is known as signalling, and has evolved as an evolutionary means to communicate or camouflage.

You are probably wondering what bearing this has on the modern business habitat?

Well, it may not be a jungle out there, but to survive – and thrive – corporate leaders and managers need to be comfortable with change.  Adaptability is key.  The financial pages are littered with stories of organisations who were looking the other way when the winds of change blew in.  In 2009, UK retailer Woolworths went bust after 100 years of trading history. 30,000 people lost their jobs. While there are many reasons for the decline, the contributing fail factor was a lack of focus on their core retail strengths (you could buy anything and everything) and an inability to respond fast enough to inclement market conditions. In these credit-crunching times it any wonder that these premises are now occupied by discount retailers such as Poundland – squarely aimed at budget-constrained consumers?

Savvy organisations recognise that change is a constant – and are able to respond to their environment.  Super-savvy organisations actually build this type of reflex into their strategy.  I’m reminded of the latest TV campaign for Amazon, who claim they ‘make the revolutionary, routine’– the premise being that innovating for change is the new normal.  For such businesses, change is not merely something that happens, but something  that the leaders of these organisations actively shape.

Sharks may be the ultimate predator, but their corporate repertoire is somewhat limited. Far better to be a chameleon. Not only can they change their spots in 20 seconds flat, they can focus on two objects at the same time. They also catch prey at about 30 thousandths of a second. Now that’s what I call a reflex! Managerial mimicry, anyone?

What do you think?  Can being a corporate chameleon help you adapt? Comments on the blog, please.

Moving mountains…what it’s really like to be an entrepreneur

This weekend I climbed 3 of the highest peaks in Yorkshire. It was part of a charity fundraiser for the White Stuff Foundation, and involved getting up – and down – three mountains in under 12 hours.  Yes…26 miles (41 km) of non-stop hiking across the finest mud, rocks, rain and bogs that the Dales National Park had to offer.  It was physically hard…really, really hard.  It was relentless…the uphill climb felt never-ending at times. It was also fun…Well, it was when we weren’t getting rained or being buffeted by 50 mph winds.

On the journey home, as I sat nursing my dysfunctional knees and wondering if I would ever be able to walk without hobbling, I reflected on the experience.  It reminded me a lot of what it’s like to work for yourself.  Whether your title is ‘self-employed’, ‘small business owner’ or ‘entrepreneur’ – building a successful enterprise does, on occasion, feel a bit like moving mountains. Or wading through a bog, depending on your mindset…

And that got me thinking.  Stepping off the corporate ladder can mean you choose to climb a mountain instead.  But you have to start somewhere.  My 3 Peaks challenge began with the very first step I took as we headed towards Pen-y-ghent (691 m), but the preparation started much earlier.  It was something I wanted to do, so I had to make the decision to sign up, and commit time and effort to fundraising, preparation and travel.  As with life, so in business.  If you dream about working for yourself, there’s no place for the half-hearted. You need to fully commit to your ambition. And you need to take the first step.

Action, not thought, moves you towards your goal.  As I began the long ascent to the top of  Whernside (728 m) I just kept putting one foot in front of the other.  As the wind lashed my face and rain dripped down my neck, I must confess, I longed for a winged chariot to fly me to the summit.  But, I just kept putting one foot in front of the other. Counting my steps. Counting the rocks on the path. When you work for yourself, the hard yards are mandatory, despite what those ‘get rich quick’ schemes on the internet promise you. Wishful thinking will never make you the main contender, just a ‘might-have-been’.  You need to do, more than you need to think.

Even if you work alone, you are never really alone.  The last third of my journey got me to Ingleborough (723 m).  By this time, my knees had stopped working and the only bit of me that didn’t ache were my eyes.  I was facing what looked like a sheer wall of rock, so I stopped for breath and looked around.  Lots of other climbers were huffing and puffing their way to the top. Some were fleet of foot – others, like me, were feeling a bit tired and emotional at this point.  Well, more than a bit… I really wanted to give up and go home, but then I thought of all the family, friends and colleagues who had sponsored me and supported me. I thought of the team of people who were doing the challenge alongside me. And I kept going – all the way to the top.  Success as an entrepreneur is always a collective effort – never forget the people who support you, and don’t be afraid to ask for help and advice. There is always someone who has been there before you. Learn from them.

I realise  this post makes me sound like some sort of mountain masochist. Actually, the 3 Peaks Challenge was a lot of fun. Especially the glass of champagne that was waiting when we finished. And the sense of having accomplished a physical challenge that took me outside my comfort zone. Besides, if  it was easy, it wouldn’t be called a challenge, would it!   You can do anything you set your mind to. In life, as in business.

How to win enemies and alienate people…

I spend a lot of my working life in boardrooms.  What I do for a living means I am often required to have tough conversations with senior people.  Most of them are men.   That has never bothered me, nor has it hindered my ability to be good at what I do.  I’m judged for the quality of my thinking, and not my gender.

Which, is why I found myself prematurely walking out of a swanky dinner at Claridges this evening. Hosted by a global search firm, the event was meant to mark the launch of a network to attract female talent into the FTSE boardroom. I was invited.  So far, so good.  I was looking forward to hearing the keynote speakers and networking with interesting people over a glass of champagne. Even better.

Until, that is, one of the keynote speakers stood up and spent the first five minutes doing a Romney. You know, alienating 53% of the audience. Who were female. Who were meant to be the next generation of talent.  Who – might I remind any head-hunters reading this blog – were potential candidates and/or clients.  This man ran data centres. He explained we wouldn’t know what a data centre was – his tone implying that data centres were too technical  for our pretty little heads. The fact that several accomplished MDs for UK tech firms were present seemed to have passed him by. Then he mentioned his ‘other half’. We were urged to feel gratified that this Neanderthal twit had introduced his ‘little woman’ (yes, those were the words he used to describe his spouse), because clearly women are not professionally complete unless they are also sleeping with the boss!

I am afraid to say that common sense overtook courtesy at this point. I voted with my feet before the main course was served.  On the high-speed train home, I reflected on the experience. I have been to many dinners and networking events in the City, often very male dominated.  I can honestly say I have never been offended by the discussion, no matter how robust or different from my own view of the world.  Gender quite simply, wasn’t an issue.  What set tonight’s event apart?

For me it had to be the old-style misogyny and out-moded thinking. This man was representing purveyors of talent, who claim to actively support diverse leadership teams.  Really? As their spokesperson, I certainly wouldn’t want him representing me in the market. Instead of engaging with his audience, he simply confirmed a highly negative stereotype. His archaic leadership model has no currency in today’s workplace, nor is it borne out by the many women who sit on boards in the UK.  This is currently 15%  according to the latest report from Cranfield.  Women also make up 49% of the workforce here in the UK, across both public and private sector firms. Approximately 21% of start-ups in the UK are female-owned or led.

Personally, I think it’s time for a new paradigm. Instead of lamenting the glass ceiling, it’s time we built a new house.  Search firms, investors, networks and employers all have a role to play, as do the men and women who make up our workforce.

What do you think? Should gender matter?  Comments on the blog, please.

The ‘C’ word…

Organisations are a lot like families.  They have history, they have memory, and they have personality.  And yes, in some organisations- like families – you find the odd, mad relative sequestered in the boardroom!

All of these attributes are what make up the behaviours, attitudes and culture of a company. In short, ‘the way things are done’ – or not done – depending on the organisational culture.  You ignore this at your peril.  Culture isn’t just the preserve of multinational organisations, it impacts the start-up as well as the SME. Like brand, culture is one of those intangible organisational assets – tricky to quantify, but something that will hit your bottom line if you get it wrong.

In the corporate world, many mergers fail, not because the deal is bad, but because insufficient cultural due diligence has been undertaken.  I’m sure you are familiar with post-merger cultural change programmes where the acquiring leadership bring on the bling – extolling the virtue of the shiny, new strategy and how it will magically meld the cultures, distilling the best of both, and so doing transform the business.  And I’m equally sure you have seen those people at the back of the room mentally giving the new leadership a two-fingered salute as they carry on doing what they’ve always done!

Culture can be an enabler to transformative change, or it can be an impermeable barrier.  Does this make cultural change a pipe-dream? Not necessarily. Jack Welch famously transformed GE, by fundamentally shifting the way employees thought and acted.  Although there are critics of this approach – he wasn’t called ‘Neutron Jack’ for nothing – GE’s business transformation succeeded because it was rooted in cultural change.  Stuart Rose, erstwhile CEO of Marks & Spencer is credited with re-energising the business – not simply making it more profitable, but capturing a young, more fashionable customer base.  He refocused the business by recalibrating the culture.

Really great organisational cultures can enhance employee productivity, strengthen talent retention and grow customer revenues.  Toxic cultures by contrast, corrode organisational confidence, haemorrhage talent, and alienate clients.  How so? Well, culture determines organisational priority – in other words, the way things are done will tell you a lot about what is considered important by the people who work for and with you.  Is it any surprise that performance-driven cultures place great emphasis on margin, acquisition and growth, while innovation-loving start-ups prize creativity and quirk?

To my mind, the determining factor in successful cultural change pivots on two fundamental axes. Leadership.  Leadership behaviour.  Do the words of the CEO match his or her deeds?  There are many hackneyed phrases to describe this, but if your leadership isn’t 110% behind the change in ‘everything they do’ it simply won’t happen.  If leadership lack the necessary pair to make tough decisions (and let’s face it, in a merger situation, some people will adapt to the new world order, and some will need to exit the building) then at best, you will have a hybrid culture – not one thing or the other.  Finally, if there are no consequences for non-compliance – in other words, counter-cultural behaviour is tolerated by leadership – don’t expect to make lasting change.

Ghandi once said that ‘a nation’s culture resides in the hearts and soul of its people.’ This holds just as true for organisations.  Real organisational change is based on cultural shifts that create corporate soul. Change the culture, transform the company.

So, what do you think?  Does culture matter? Comments on the blog please.

Banjos, Passion & Persistence.What my dad taught me about business…

My father was a pilot.  He flew maritime patrol aircraft and spent his entire career (bar a few lost years when he was doing something else) in the Air Force.  Not content with flying as his day job, he earned his commercial pilot’s licence, and at weekends he taught other people to fly. You are probably wondering what, if any, wisdom he had to pass on about business.  Here’s what he taught me:

1. Do what you love

There is no point being miserable in a job you hate. As human beings, we bring the whole person to work, not just our working wardrobe or telephone voice. Since we also spend a considerable proportion of our time working – A recent OECD study clocks average working hours per annum at between 1,379 (Netherlands) and a whopping 2,193 hours (Korea) – it makes economic sense to enjoy what you spend most of your day doing. How so?  Well, work satisfaction has a direct effect on employee engagement and productivity. Workers who engage emotionally with their job/leaders/organisation are more productive and more likely to exceed expectations. They are also more likely to innovate and use their discretionary time to further organisational aims.  Productivity + performance = profits according to research published by the Association for Psychological Science. You can read more here.

2. Always do your best

My dad always used to say it didn’t matter what you did for a living, as long as you did your best.  Of course, your best may vary according to the resources at your disposal. My dad ran away to join the RAF when he was 21, and spent several months in Earl’s Court pumping gas to make ends meet while he waiting to be accepted for the officer’s training course. He made a point of being the best petrol jockey he could – because satisfied customers meant bigger tips. Bigger tips meant not having to eat baked beans for five days in a row. Working meant taking productive action while moving towards a bigger goal. In fact, setting goals can have real impact on performance by directing individuals towards productive (vs. non-productive) behaviour, and by incentivising persistence.

3. Never use the skin of your a***, to cover a banjo!

I know! That never used to make a lot of sense to me either. Actually, it was my dad’s rather earthy way of saying ‘have a Plan B’.  The best leaders I know always prepare for every eventuality.  Scenario planning – as it’s known in consultant-speak – is a strategic tool which allows organisations to make long term plans. It has it’s origins in military intelligence, but it’s business value is that is combines things you can quantify (and therefore predict) with things you can’t in order to formulate specific business strategies. Made famous by Shell, it allowed the company to ride out the OPEC Oil crisis in the 1970’s to become one of the largest in the world.  If you want to know more, the best book I’ve ever read on this discipline is by Kees van der Heijden.  Like I said, make sure you have more than a banjo to see you through inclement market conditions.

My dad may not have been a captain of industry, but I think he knew a thing or two about leadership.

What do you think?  What are your three insights about business?  Answers on the blog, please!