The life of an independent executive can be rich and rewarding. Free from company politics, inspired by the variety of work, rewarded by higher fees and personal freedom, the freelance career can be a dream come true.

 

With double-digit growth opportunities across Europe since the millennium - and (as yet) no obvious age limit – the career potential for an independent executive with the right reputation is open-ended.

The most common pitfall is the dreaded “feast-famine” cycle, where months of stress and overwhelm are followed by months of insecurity.

 

The working pattern of an independent professional can also bring feelings of isolation. Many miss aspects of the leadership role they once enjoyed in their “first careers”. At the extreme end of the spectrum, prolonged difficulties and extensive travel can bring severe burnout, loss of confidence and depression.

 

Borrowing a model from the writings of Ken Wilbur, we might sum up the issues as follows:

Issues for interim-managers

The contrast between success and failure is a stark one, and this was brought home to me in 2004 when an acquaintance who worked as an interim manager committed suicide. His endless travel and isolation in hotel rooms fuelled his consumption of alcohol, which in turn led to depression, dependence on medication, and a downward spiral from there.

 

Yet in the very same month, another interim-manger was winning an award for his services and was enjoying a professional identity of which he had never dreamed. A few months later, another freelance client successfully concluded a deal with Dutch group and was celebrating a huge increase in confidence and in fees. So what makes the difference?

Professional development is often confined to one or two of the quadrants above. Strategists tend to ignore the role of inner confidence, but how can anyone charge a high fee is they cannot get the words out? Equally, personal coaching that does not take account of the real market-conditions of an interim may simply be an investment in frustration.

 

Obviously there are many factors, and I have tried to summarise them roughly in the table that follows. These may be summed up in the phrase “sustainable business development”:

It’s often quoted that two-thirds of freelance assignments happen via individual referrals and networking, and only one-third via agencies or interim-providers.

 

Nevertheless, most independent executives under-value their network. While it is true that some face a hefty rebuilding task when they start out, the real problem lies not so much with their network but in keeping in touch with that network.

 

Because the assignments are demanding, the interim disappears into them:

• Attention is wholly focused on complex client issues, therefore making calls and staying in touch gets pushed off to one side.
• The early mornings are spent answering emails, as opposed to writing articles or maintaining thought-leadership initiatives.
• Lunchtime is a quick sandwich at the desk, or a walk to relax, or spent catching-up, not a conversation to open doors elsewhere.

And so on. The origins of the feast-famine cycle lie not so much in the famine as in the feast. After a demanding assignment, the pipeline is often empty and the interim has to start all over again.

Even when the freelance realises that s/he needs to develop new skills and habits, they often face a second problem. Many dislike selling - no matter what it is called - and the contents of most sales-courses are repugnant to many professionals. So when talking to potential clients, they resort to talking about the one thing they feel most confident about: their own experience and stories.

 

This is a mistake (for reasons we don’t have space for here) and at some point in the conversation the interim often senses this for themselves. Indeed it often feels like they have strayed into the very thing they wanted to avoid: selling!

 

Interestingly, this illustrates how an inner-conversation (“I hate selling”) conspired with outer-conversation habits in a way that diminishes rapport, and reduces the effectiveness of an interim’s dialogue with others.

There are three forms of support that no independent executive should be without:

1. admin: every hour spent on administration is wasted, even for those who are good at it. It would have been better spent on development.
2. some form of business-development coaching or mentoring or training – by whatever means suits the interim best. Sure, some services are better than others; but any is better than none, or living in the illusion that we have progressed beyond it. We all can improve our business-development skills.
3. advisory board, mastermind group … some form of peer-support from fellow-experts, where experience can be shared and learning passed on. Again, some groups are better at this than others, but isolation is never healthy

Many freelancers speak disdainfully of providers; but quietly! Like Voltaire on his deathbed, when asked to renounce Satan, his reply was “this is not a time to make new enemies”. Similarly, interims often keep in touch with providers … just in case.

 

Needless to say, there are providers and providers. Some treat the interim as a “commodity”, haggling over margins and rates, often with little appreciation of the expertise of the interim. Others are more forward-thinking, actively engaged in developing the profession as a whole, seeing the added-value of a co-operative network, proactive in opening new markets.

 

And just as there are providers and providers, there are indeed interims and interims. Some see themselves as a commodity: their sole concern being the next role and the next rate. Others have an identity in the marketplace, they invest in themselves and in strategic alliances … which of course includes providers who share these values.

Further information

Success 121 has devised a self-assessment comprising “50 Vital Questions for Independents. Click here to request your complementary copy. For further resources, see www.success121.com

© John Niland, Success 121, April 2008. May be reproduced on condition that the “Further Information” section above is included.