PJM Consulting provides Interim Management services through engagement custom-designed to meet the needs of each unique client. We can be retained for as little as a few weeks of “intensive intervention” with a troubled business, or many months to a year. Our typical engagement utilizes an affordable monthly retainer with no long term commitments. We can serve as your interim CEO, COO, Division Manager, VP-Marketing, VP-Business Development or VP-Sales. We can engage for a set period of time for a product launch, or on an open-ended basis to turnaround a sagging business -“until the job is done.” It depends solely on the requirements of the specific situation and preferences of the client.
In certain circumstances, we will consider taking part of our compensation in equity, if the situation warrants it and it is the clients desire. The only way we won’t engage with a client is on a contingency basis. Just like our engagement terms, our compensation terms are client-driven as well.
PJM Consulting can provide significant value by providing Interim Management Services across key segments of your organization. The following sample engagements below illustrate our core competencies, but we can assist across a wide variety of situations and needs:
SAMPLE INTERIM MANAGEMENT ACTIVITIES:
Below are some of the common activities we often perform in Interim Management assignments:
Working with the Board of Directors:
Senior Interim assignments are often driven at the Board level. What needs to be done to satisfy the Board’s interest in a strong, growing company? Is there a need to find new senior members of the management team? Cost reductions? New strategic direction? We work with the board to answer these key questions, while immediately stabilizing leadership of the company and moving it in the appropriate direction.
A common reason for an interim assignment is the need to quickly change the direction that a company is headed in, whether the case is a problem of red ink or a “dead end” strategy. We can quickly assess the key things that need to happen in the near term to turn the ship, and lead the implementation of the required changes.
Coaching of the senior staff:
We serve as a senior advisors who can serve as a “sounding board” and provide an outside, honest view of the situation to functional heads as well as sage advice on the best path forward.
Profitability — Drop more to bottom line without adversely impacting the future:
Your sales are rising, but profits are lagging—or non-existent. Is your company in the “habit” of always “investing” and never “profiting”? Which product lines are creating revenue but have little hope of significant profits? What expenditures are truly driving the business, and which could be eliminated with no adverse impact whatsoever? Learn which departments are core, and which activities would be more efficiently outsourced. We can show you the way to maximize what really counts in any business—the bottom line.
Product planning and new market studies:
How successful was your last product launch? The trick is getting the product designed and developed properly to meet the needs of the target market. If you’ve target the “wrong” market with your technology, or haven’t developed the best user interface—you’re probably in trouble—no matter how “killer” your underlying technology is. Unfortunately, all too often a product doesn’t “hit” until it’s second release because of product/market planning issues like this. We can help you get it right the first time.
Establishment/modification of worldwide distribution strategies:
Are your products being sold through every channel that is applicable? Are you only selling in your home country, leaving the rest of the world to your competitors? Or is your product line over-distributed and suffering from massive channel conflict? If so, we can help—we’ve tackled these problems successfully too many times to count.
Is your online presence optimal? Are you being found by your target audience online, or just when your offline marketing and sales activies send them to your website. We can review the online marketing approach and provide fast modifications to optimize the approach, including all of the key elements: SEO, PPC, PR, direct email and more.
Operational review of corporate plans/staff/budgets:
We look for inefficiencies throughout the company—something that is often done more effectively done by someone who isn’t “too close” to pet projects and departmental fiefdoms. We can help redirect a company toward a more profitable future if the strategy isn’t optimal. Or we may uncover resource that aren’t being used optimally or other inefficiencies, allowing the “found money” to be utilized to accelerate the current strategy.
Sales force effectiveness, tactics and compensation plan review:
Are you getting the most out of your sales force? Is the sales compensation plan fully aligned with overall corporate goals? Is the sales base/incentive split such that the sales people are properly motivated? We can help make sure that your hot product moves as fast through the sales pipe as possible.
Optimization of Marketing mix within organizational budgetary constraints:
Everybody loves to see a full-color ad of their newest product in their favorite magazine. Or go to a trade show to “show it off”. But you have a limited marketing budget and window to hit your revenue targets—are these the fastest and most efficient ways to the promised land? Every product, target market and market stage is a little different—and no one marketing mix “fits all”. We’ve used just about every business-to-business and consumer technology marketing method in existence. Let us design the right plan for your situation—and stay with you to implement it until you’ve reached success.
Strategic Partner Planning, Selection and Recruitment:
A very underutilized marketing approach is to partner with complementary suppliers. From potential channel partners to vendors who offer non-competitive products to the same target audience, there’s great potential to partner. Not only is partnering underutilized, it’s very inexpensive when done by experienced and skilled business developers. We can start up and lead this effort.
M&A-Acquisition/divestiture strategy to optimize the product mix
Are you competing in the right markets given your company’s strengths and weaknesses? Do you have a product line or Division that just doesn’t “fit” with the rest of the business? Can you develop that next product internally and still make it through the market window? Technology markets move at warp speed these days, and sometime you just can’t get to where you need to be fast enough using internal resources. Merger & Acquisition strategies are not for the faint of heart. If done poorly (as they are all too often), M&A can be disastrous for a company. But done well, almost nothing can position your company for growth faster. PJM Consulting has been involved in transactions and successfully integrated acquisitions into the “mothership”. Let a PJM Interim Executive help you avoid the pitfalls that trip up many potentially successful transactions.
Contact PJM Consulting today for a no-obligation discussion of your interim management needs!