Are you considering using fractional executive services? If you’re nodding, then you’re probably wondering: How do I choose the best option? Whether or not this is a viable option for you will depend on your specific situation and your company's goals. Here are five benefits of fractional executive services:
1) Value
Fractional executive services are an excellent option if you're looking for a part-time leader to handle a high-level project. You may hire a part-time leader to optimize your operations, or prepare your business for sale, or even to give you the time to work on a new project that you’ve been wanting to test.
Think of fractional executives as strategic partners. We help your company grow by giving you the time you need to make decisions that lead to major growth. We aren't just there to make recommendations; we’re there to implement them and help you monitor your KPIs. Unlike a full-time “Chief _______ Officer,” a fractional executive will work as a part-time leader while allowing you to focus on your own responsibilities. This is why many businesses are turning to fractional executives for their executive needs.
2) Scalability
Fractional executives give you the ability to scale FAST! In many cases, a company may not need a full-time C-suite executive; it only needs a comprehensive plan, better processes, or streamlined business systems. Using fractional services to support your company's growth and scalability allows you to avoid the costs of a full-time executive. Fractional executives, also known as CxOs, can help scale emerging brands, manage strategic initiatives, and integrate themselves into a range of business operations.
3) Cost
When choosing to hire a fractional executive, you need to consider the opportunity costs – time and money – of hiring and onboarding traditional employees. Our fractional executives are trained to come onto the scene, assess the company quickly, and dive into building a project plan and path to solutions. Our training and expertise allows us to jump right in so that you don’t have to spend time onboarding us. We can remove the barriers imposed by departmental silos, resulting in faster progress and increased profitability (for a fraction of the price!).
4) Recruiting
Hiring us as fractional executives is an excellent way to support your full-time management team while you search for the perfect match. We can handle an array of tactical and strategic areas, such as marketing, finance, and business operations. If a vacancy arises in a C-suite position, not only can we handle the project, but we can also help you build a People Engine that works to replace us when our work is done.
5) Flexibility
Startups in growth stages are changing rapidly every day. For a startup, the constant is typically change. With competing ever-changing priorities, you need someone who has the flexibility to move around from project to project. You need a utility executive who can sub in for various roles. That’s exactly where our expertise lies. We’re your executive fire fighters who can quickly fill gaps and create traction before moving on to another problem.
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