Your longtime client / customer has been profitable for years but is concerned they will run out of cash as they strategically look to move into new markets. How this plays out can determine if you have a CEO opportunity or a customer for another decade. (CEO = career ending opportunity).
This is a strategic challenge for those who have not been through the process before. Having a good CFO on the team often is not enough. Challenges exist in managing working capital, funding R & D, team building, corporate governance enhancements, and equity and debt raising are but a few of the challenges facing the company. All of these need to be accomplished while staying focused on the cash generating old co.
Like a captain of a ship headed into a storm the CEO will insist on steering his ship and be damned with the storm in his sites. This decision can be catastrophic.
Many times the right answer is to hire an interim senior executive who has been through this process. Many times cash is very tight and egos get in the way – creating an opportunity for a crisis. Avoiding the crisis usually requires advisors who can assist the CEO in loosening his hands on the tiller.
Parachuting in allows the interim executive a clearer view without the fog of history and bureaucracy.