Interim Executive Confidential: Experiences of an Interim Executive and Why He Chose to Became an Interim Executive
On this episode of the Interim Executive Confidential, we are talking with Donald Noble, an Interim CFO about his experiences in the interim executive world.
The situations Donald is called into as an interim executive vary. Donald told us:
“Many times I’m called in to accompany those looking to grow rapidly, or perhaps in a turn-around situation. Sometimes it’s a company that has hit some kind of wall and needs an executive to push them over the wall. Perhaps they’re struggling with the new product line or looking for ways to expand, or can’t quite seem to get the profitability they’re looking for.”
On what prompted Donald to become an interim executive, Donald said,
“I was working as a CFO for a technology firm in New Hampshire and when we sold the firm off, a former CEO called me and said, “Help me. Can you please be fractional CFO and help me grow my company?” Since I had already known him and knew his company well, it fit me at the time. But as I stepped in, I fell in love with all the work that we could accomplish… all of a sudden, nine years later I’m still doing it because I love it.”
Donald also shared how an interim executive has the opportunity to get more done in a short period of time:
“As interim executives we’re asked to go in and parachute into these companies. Immediately. You don’t have time to worry about what I would call the ‘niceties of the job’. For example, if the CEO calls me — and this has happened to me — and says, “We have a lot of sales but we just can’t figure out why we’re not making any money.” I’m allowed to go in, and uncover, and poke and prod in places that perhaps other people are not allowed to do. And that enables an interim to really pull the covers away from the operations, the finances and get to the bottom of things really quickly which by example enables them to do more.”