What Is Fractional Leadership?
Are you leveraging fractional leadership? Maybe you …
Fractional Leadership is the practice of leveraging external experienced C-level executives to fill leadership gaps in your business in a part time capacity. The fractional executive works on a contract basis and usually with more than one company at a time.
Fractional Leadership is gaining popularity as an effective way to grow and scale your business without the commitment and risk associated with bringing on a full time C-level person. The nagging question for many CEOs, however, is how can this seemingly counterintuitive approach really work? “I need leaders who are 100% committed to my business and wake up everyday thinking about how to make us succeed – right?”
People, who have gone through Fractional Leadership training, have been serving in back-office roles—human resources, finance departments, etc.— for years, but they are now common throughout the C-suite.
Fractional Leadership Comes At The Fraction Of The Cost
As a sort of interim management, fractional leadership involves hiring outside executive talent to temporarily fill certain responsibilities within an organization. This could refer to a specific task or piece of work as well as a time of transition, such as a leadership change or the search for new employees.
Compared to a $250,000 sales manager or a Fortune 500 C level executive such as a Chief Revenue Officer which can run $300,000+ Big picture.
Getting experienced, senior-level Fractional Leadership without paying a full-time salary of $250,000 – $500,000 is desirable for start-ups or small businesses.
In all honesty, you only need eight to 10 hours per week or even a month from such a leader.
Different companies will have other requirements, but generally, a company needs someone who can provide high-level direction and help make decisions that will shape the company’s future.
They also need someone who can help with networking and building relationships with other businesses and potential investors. An experienced leader can provide all of this and more.
Suppose you’re thinking of hiring a leader on a part-time basis. In that case, you may only require strategic thinking and planning at the senior level to be successful, and experienced leaders can provide that without requiring a full-time commitment.
Furthermore Because fractional leaders are not with the organization on a permanent basis, there may be a lack of continuity in leadership, which can be disruptive to the team or organization.
Fractional leaders may not have the same level of influence or authority as a full-time leader, and may not be able to implement long-term changes or strategies.
Executives, who go through Fractional leadership training, may not be present in the organization on a full-time basis, which can make communication and collaboration more difficult.
Fractional leaders may not have the opportunity to build strong relationships with team members and other stakeholders in the company, which can impact their effectiveness as a leader.
Fractional leaders may not have the same access to resources as a full-time leader, which can limit their ability to effectively lead the team or organization.
Here atRevenue NorthStar, we are passionate about sharing experiences and first-hand knowledge from the trenches. No fake gurus or consultants; we get into the execution of well-proven steps, strategies, and frameworks to help your business grow faster and more efficiently. Stay connected with us on social media for regular updates, tips, and insights:
Connect with us on LinkedIn: linkedin.com/company/revenuenorthstar
Like us on Facebook: facebook.com/revenuenorthstar
Keep up-to-date with us on Instagram: instagram.com/revenue_northstar_llc/
Follow us on Twitter: twitter.com/RevNorthst1
Subscribe to our YouTube channel: youtube.com/@findyourrevenuenorthstar
Join our community and let’s embark on a journey of business growth together!
