How Nancy
Got Her Small Business Moving Again by Filling
a Management Void
About two months ago, Nancy was having a drink with
the president of a Fortune 1000 company and came home quite
upset.
For two hours she had listened to tales of the great
things his company was doing in the marketplace to increase product
awareness. He had also carried on at length about the wonderful ways
his CFO suggested of taking advantage of an inconsistent economy. By
the end of the evening she realized just how wide the gap has become
between big companies that can afford to hire top-notch talent and
smaller firms that can't. Resolving to
find a way for her small business to get access to the type of
talent usually employed by top firms, she did some homework and
found that it is possible for small
companies to hire high-level executives - provided that there is a
willingness to hire them on a part-time
basis.
The part-time
executive provides a combined continuity and expertise that is
difficult to duplicate for the price being
paid. Bringing skills that specifically suit
the business needs, and usually with a minimal learning curve, the
part-time executive works for a set period each month (usually a
couple of days on-site) and is available for limitless discussions
by phone or email. The individual is paid a set monthly retainer.
Staff and senior management have a rare opportunity to learn from
someone who has a wealth of professional knowledge and is "out
there" learning from other professionals.
So is working with a part-time executive a better
way of operating than other avenues available to a business? Not
necessarily. Frequently a company's senior management has the
expertise to function at the high level in the marketing, financial
or operations area. In that case it probably makes more sense to
bring a consultant in to deal with specific issues.
The part-time
executive is an idea whose time has come! Before you do without or
write that next "Help Wanted" ad, consider bringing in a part-time
executive instead. Like our friend Nancy,
you'll find your business growing much faster than you expected and
with considerably lower overhead.
Originally published in
Productivity Report, 2002
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