As an Interim Manager, how do I deal with the uncertainty between two assignments?

As an Interim Manager, it is inevitable to find yourself in the situation of being between assignments from time to time. This uncertainty can be a major challenge for many Interim Managers, especially when it comes to income. In this article, we will discuss some best practices on how Interim Managers can deal with and overcome this uncertainty.

The uncertainty regarding a regulated income is one of the biggest challenges for Interim Managers. Unlike employees, who receive a fixed salary, the income of Interim Managers depends on the number of assignments they can take on. This means that there may be times when the income is uncertain and the Interim Manager must ensure financial security.

To deal with this uncertainty, it is important to have a Financial cushion build up. Interim Managers should be able to manage without income for at least six months. This means that they need to reduce their expenses and manage their money sensibly in order to be prepared for the worst-case scenario.

The Unplannability between two assignments can be a challenge for many Interim Managers. It is difficult to estimate when the next assignment will come and how long the break between projects will last. Some Interim Managers use this time to develop their skills and prepare for future assignments. This may mean attending courses and training or volunteering to improve their skills and expand their network.

Another proven method of dealing with uncertainty is to remain flexible. Interim Managers must be prepared to change their plans and adapt to unforeseen situations. They should always be ready to take on new assignments and expand their skills and experience in different industries and companies.

Overall, uncertainty between two assignments is a challenge for Interim Managers to deal with. It requires financial planning, flexibility and the ability to evolve and prepare for future projects. However, it is important to remember that uncertainty also provides opportunities to gain new skills and experience and position yourself for future assignments.