News & Insights
Leadership On Demand
18th November 2024
The scenario: A small business striving to reach the next growth stage needs advice and support from someone who has worked through similar challenges.
The management team knows they need an expert quickly because this challenge wastes resources and prevents progress.
However, a search through LinkedIn and across their networks reveals people in senior executive positions or work at consulting firms.
This expertise isn’t right for them because they don’t need someone five days a week; the organisation isn’t structured for a “big hitter,” and there isn’t a “big-league” budget to play with.
The solution: TMM Executive’s Leadership On Demand.
What is Leadership On Demand?
Leadership On Demand is our cost-effective executive management service that is a win-win for SME businesses.
We connect you with C-suite leaders who are at a point in their careers where they want to work more flexibly and build a portfolio of interesting assignments.
These professionals have decades of knowledge, wisdom, and know-how, and their experience can make a lasting impact, improve performance, enhance profitability, and solve operational issues.
Their level of expertise means they need less of your management time to get up to speed and start grappling with the challenges limiting growth and profitability.
To suit a wide range of business needs, our executives can be engaged on a fractional or interim basis and suiting organisations searching for specialist longer-term support or an expert who can plug a short to medium-term gap in resources.
The difference between a fractional executive and an interim executive
Understanding the different benefits will help you make the right choice for your business:
A TMM fractional executive:
- Part-time, permanent member of your team.
- Provides leadership, strategic guidance, and operational support within a specific executive remit.
- Typically, the employee works for an agreed-upon number of hours each month, but the level of engagement can be ramped up during critical periods and ratcheted down during more stable times.
- They can work for multiple organisations at once, depending on their capacity and working preferences.
For instance, a fractional CMO could sit on your board, devise a strategic marketing plan, engage third party service providers and mentor other members of staff, or a fractional CFO could provide financial expertise to your board, introduce potential investors, lead due diligence, or implement strategies to mitigate financial risks.
A TMM interim executive:
- Provides full-time, temporary expertise on a fixed-term or rolling contract.
- Provides leadership, strategic guidance, and operational support within a specific executive remit.
- Will use their expertise to bridge an internal skills or leadership gap, for instance, to lead a specific project or to act in an interim capacity until a full-time permanent candidate is hired.
- Typically works with one company for several months at a time.
An interim IT executive could lead the project for new software integration, or an interim procurement specialist could focus on supplier selection and identifying opportunities for cost reduction across the supply chain.
The primary difference between the roles is how the executive’s time is spent. An interim executive will take on a relatively short-term position, while a fractional executive will split their time between multiple businesses, working a set number of hours for each one during the week or month.
With our executive management service your administration burden is minimal as we take care of the executive’s payroll and can also provide them with working space in our executive hub at 38 Albyn Place
