What are fractional executive services? Do you need a fractional or part-time CEO or CFO? How would your small to mid-sized business profit from a fractional C-level executive?
Most smaller companies cannot afford to hire a full-time, experienced executive officer. However, there are occasions when any business could use some help to navigate a merger, guide the company as it expands into new markets, prepare for acquisition, or establish a vision to manage any challenge or growth opportunity.
A fractional or part-time CEO or CFO may be an excellent option for your company to consider. Perhaps you require the services of an experienced CEO to manage a company that is experiencing rapid growth and need the experience, connections, planning, and strategic vision of a proven executive who has "been there, done that." A part-time CFO can help prepare your business for due diligence of an acquisition or merger, manage payroll or tax issues, restructure accounting systems, or prepare important financial analyses and corporate financial statements.
Fractional executive services extend to virtually any area of expertise your company needs. You might consider a part-time CMO for marketing, a COO for operations, or a CTO for managing technology issues. You might need someone to step in and take the reins when an existing partner or corporate executive becomes ill, or to manage infrastructure and marketing plans as the company prepares to develop and release a major new product, or reach into a new vertical or geographic market.
A fractional or part-time CEO or CFO (or other C-level executive) can support your company through specific opportunities or challenges, while substantially reducing the expenses and benefits of a full-time position. The company may be growing beyond the capabilities of its founders in some areas. You may be facing a crisis, such as a tax audit, failure to meet sales and revenue projections, or an owner's commingling of funds or assets, requiring the development and implementation of new controls.
Fractional executives allow any small to mid-size company to tap into specific experience or expertise when an opportunity or challenge arises, without incurring the overhead and challenges of integrating a new permanent team member. It may also be a sound strategy for proving a potential candidate before hiring them on a permanent basis.
