How to get started as an interim manager

Fabian Menzel, Manager at Robert Walters, is receiving an increasing number of inquiries from candidates looking to transition into freelancing (Interim Management). Many of them have been considering this move for some time, but taking the final step proves difficult. In this article, we aim to provide you with practical tips to help you successfully start your career in Interim Management.

Why Interim Management?

Interim Management offers a variety of benefits. It allows you to leverage your expertise across different companies, enjoy flexible working hours, and generally earn higher compensation than in permanent employment. But how can you make a successful transition?

Menzel emphasizes: "Experience, flexibility, and speed are essential in Interim Management. Therefore, you should start in a field that is familiar to you." This advice is crucial to ensure a smooth transition and to quickly establish yourself in the market.

The First Steps

• Leverage Your Experience: Start with a role you have held before or in which you have significant experience. This eases the transition and minimizes risk.
• Shiny Brands: “Try to secure one of your first assignments with ‘shiny brands’,” advises Menzel. “Having reputable companies on your resume greatly facilitates the search for subsequent projects.”
• Niche Expertise: Current knowledge of trending topics can significantly boost your chances. “Right now, regulatory expertise in the banking sector, expertise in renewable energies, and IT transformation are particularly in demand,” says Menzel.
• Review Day Rates: Transitioning from a permanent position to an interim role often comes with a pay increase. Research current market rates in advance, for example, through our European Interim Management Guide.

Checklist for starting as an Interim Manager

Based on his experience, Menzel has put together a checklist to make it easier to start in Interim Management:

1. Self-Reflection: What skills and experience do I have that are in demand in the market?
2. Build Your Network: Use LinkedIn and other platforms to expand your network and increase visibility.
3. Market Research: Stay informed about current trends and needs in Interim Management.
4. Self-Marketing: Develop a strong personal brand and position yourself as an expert in your field. Your CV should always be available in both German and English.
5. Maintain Flexibility: Be ready to quickly respond to new inquiries and adapt to various company structures.
6. Administrative Preparation: Decide on an appropriate business structure (sole proprietorship, freelancer, or limited liability company), register your business, and ensure you have the necessary insurance (professional liability, general liability, health insurance). Ensure compliance with tax obligations (VAT, income tax) and set up legally compliant contracts. Do not underestimate this bureaucratic effort.

Useful Tips for Success

In addition to the checklist, here are some more useful tips for success as a freelancer:

• Continuous Learning: Stay up-to-date and invest in your education. This increases your attractiveness to potential clients.
• Mentoring: Seek out a mentor who has experience in Interim Management and can provide valuable advice.
• Contract Negotiation: Practice contract negotiation to optimize your position and terms.

The Perfect Fit

Starting a career in Interim Management can be challenging, but also highly rewarding. “We are happy to assist you in your start and help you find the perfect fit for your first interim position,” says Menzel. Rely on our expertise and our extensive network of companies, and take the next step in your career.

Upload your CV here or submit your contact request here if you would like our support on this path.

Additionally, check out our free salary survey for current Interim Manager day rates or learn more about the current Interim Management landscape in our European Interim Management Guide 2024.