Guidance for prospective interims

If you are new to interim management, there are some things you need to consider:

• Think about your motivation. Do you want to change the pattern of your working week, or maybe you want to be able to take several months off?  Are you seeking more variety in your working life?  Are you filling a gap between permanent roles? Interim isn’t for everyone – will it suit you?
• If you see interim management as a career, have you considered that you are actually taking on two jobs?  You also have to be your own business development manager. Are you comfortable with “selling yourself”, networking and marketing?
• Think carefully about how much income you need to generate – interim management is more uncertain than a permanent salaried role. Also think about how many days per year you would like to work, or need to work. Consider that even the most in-demand interims rarely work more than 150 days per year, due to unavoidable project delays etc. In fact, 100-120 chargeable days per annum is nearer the average.
• Get properly organised with a home office, or some office space outside the home.
• You will also need to set up a limited company through which you can invoice for your work. Your accountant can advise you on this. There are also firms who provide company structures for interims and contractors, including helping you minimise your tax obligations, for a modest monthly fee. We can help you get in touch with people who do this.