Part-time Managing Directors (MDs)
Part Time Managing Directors (MDs)
Many believe that businesses are supposed to be led by one person, available 24/7, who belongs completely and totally to their company.
However, many company boards have part time, non-executive chairs and directors – and, in fact, even organisations like Microsoft have been temporarily run on a part time basis, which is exactly what Bill Gates did, much to the thrill of the business world.
More and more companies now offer flexible working policies – and even executives want greater autonomy and control over their schedules and lives. Managers and executives in many organisations can now pursue part time projects, if they want to, so long as their work is good and delivered on time.
As these organisations scale up, their founders often find that they need additional expertise to run their companies. As a result, there’s been greater demand than ever before for managing directors (MDs) available on a part time basis. These individuals have extremely strong managerial experience and work with founders, or their Board of Directors, to help a business achieve goals and reach the next level.
Many of them have retired from a full-time position as a Managing Director or a C-Suite executive and can join a company on a contract basis. This creates a win-win situation: your company gets access to talent you may not otherwise be able to afford, while they can connect you to their contacts, sources of funding, and new business.
However, many part time managing directors are still looking for work-life balance. They likely do not want the long-term challenges or pressures of being the boss.
Companies are constantly evolving – and the skills your company needs from inception to sale will likely change, as well. If you ever require a certain skill set but cannot afford or do not require a full-time managing director, then a part time managing director may be a perfect fit for your organisation.
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