Interim profile
Name: Richard Hall
Status: Interim Manager for 8 years
Location: Oxfordshire
Corporate Career Summary:
25 years experience of developing products in the health sector. Held Technical Director and VP roles in industry, including plc experience. Interim Manager since 2000 providing product development, programme management and research commercialisation expertise – to pharma, biologic and device organisations.
“What persuaded you to (consciously??) become an Interim?”
A number of things – achieved ambitions in terms of corporate career; more control and choice over who I worked for and time spent working; and last but not least, having fun.
“What regrets?”
None!
“What are the upsides?”
Freedom to determine who I work with; variety leading to high level of job satisfaction; new networking relationships and challenges mean I never lack motivation or enthusiasm.
“What has been the high point of your Interim career so far….?”
Completing a drug development assignment from concept to Phase II start in the US for a UK based private company with VC backing in less than 24 months.
“And the lowest moment?”
Being told ‘you’re over qualified’ for an interim assignment; I work hard at educating clients of the value and cost effectiveness that a high level interim can bring to their organisation.
“What do you most enjoy about being an Interim?”
Flexibility – place, office, people; lack of politics; variety.
“And least?”
My own business development! Given the nature of interim work, making time for identifying that next project when you are fully engaged in the current assignment is always difficult.
“What would your advice be to aspiring Interim Managers?”
- Build a sound financial base so your cash flow can cope with the fluctuating nature of interim work
- Find a good accountant
- Work hard at communicating with your client – and accept that it is up to you to make it happen
- Develop a personal network of contacts relevant to interim management assignments
“Contractual must do/must have”
“Any strong words of advice on contractual ‘must do/must have’?”
- Be commercial in your approach to clients – don’t undervalue what you have to offer and ensure you negotiate on all small items such as expenses
- Negotiate the freedom to operate as an independent e.g. flexibility about place of work, and ensure non-exclusive arrangements with clients
- Good financial advice with clarity on IR35
“How do you cope with the ‘feast and famine’ nature of interim work?”
- Sound financial base
- Maximise on your down times by creating another business, pursuing outside interests and other non-work activities
“What networks would you recommend that keep you in touch and are useful to you?”
- Continuously develop and refresh your own network – most of the work I’ve done to date has come through this
- Find the internet resources that work for you
“What is the ‘buzz’ that keeps you interimming?”
- Job satisfaction
- Invoices being paid – on time or early even better!
“What 3 top tips would you share?”
- Be commercial and service oriented
- Create strong financial base
- Find a good accountant
“How do you set a day rate?”
A client generally has a budget so discuss how to cut the cake appropriately. Ensure you agree a review within 3-6 months of the assignment starting, to give you the opportunity to review rates if you have started lower than you would prefer; it will be a lot easier to increase your rate when you are a known quantity, providing you have done a good job!
“What basic housekeeping things are important (set up as a Ltd company, get PII, find a good accountant, invest in good quality stationery – business cards etc.)?”
- Invest in a good PC based accounting package – I use QuickBooks
- It’s not always necessary or preferable to set up as a limited company, it depends on client/agency requirements and type of work being undertaken. My advice would be to have both entities available to use depending on circumstances and your preferences
- Produce some high quality business cards which create the right professional image
- Set up a professional email address