Interim Manager Success Story: Rescue Start-Up

How to Rescue a Failing Start-Up – an Interim Manager Success Story

A success story from our iCEO Steven Lund, Interim Manager

Steven Lund tells in this success story how he turned around a failing start-up company and brought it to a successful exit being hired as an interim manager.

Mission

Company: You Take Control
Market: Privacy
Industry: Health Care
Position held: Interim CEO
Responsibilities: Worldwide Sales, Marketing, Service, Support, Business Development
How hired: I met the founder at a conference and he hired me to come in to grow the company
Company status when started: Burned thru $300K with no product, no partnerships, no channels for distribution and no cash to run the company.

Methodology

Step 1 – evaluated the current state of the business

  • Employees
  • Who to keep, who to let go
  • Who was good at their jobs including the current executives
  • What did they think were the problems?
  • Did they have any solutions
  • Product, Quality of the product, Pricing, Reliability
  • Competition
  • Is it a win-win for them
  • Software development, engineering resources, cost of testing and QA
  • Service and support, Policies
  • Financial condition, Balance sheet, P&L, revenues, expenses, investors
  • What did they think were the problems, would they put in any more investments


Step 2 – put together a plan and get buy in

  • Worked closely with the founder and developed a plan
  • Got buy in for the plan with the executive team
  • If executive team did not support the plan then we let them go.
  • All the team supported the plan
  • Met one on one with the team
  • Presented the plan to the entire company

Step 3 – …

Read the complete success story of an interim manager rescuing a start-up

Patrick Mataix

In 2001 Patrick Mataix founded CEO Worldwide Ltd (www.ceo-worldwide.com: International Management on Demand™) after a career of more than 25 years in the technology sector in Europe and the USA.

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2 comments on “Interim Manager Success Story: Rescue Start-Up
  1. anay says:

    I’m still learning from you, as I’m making my way to the top as well. I definitely love reading all that is written on your blog.Keep the information coming. I loved it.

  2. Jeanette says:

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    was good. I don’t know who you are but definitely you’re going to
    a famous blogger if you aren’t already 😉 Cheers!

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