4 Indicators That You Need to Hire a Fractional COO
November 19, 2019
Many businesses reach a stage where they can use the expertise of an experienced operations executive, but they are not quite at the point where they need or can afford a permanent or full-time person. One of the best solutions in this scenario is a fractional COO.
What is a Fractional COO?
A fractional COO is a key operations-focused consultant that is used on a less than full-time basis. They provide critical, temporary executive-level leadership to help an organization reach their goals. A fractional COO is an excellent affordable option for many organizations.
One of the key roles filled by a full-time COO is ensuring that the business’s operations run smoothly and efficiently. This can be through analyzing, organizing and/or improving the company’s processes and allocation of resources. It is in this area that a fractional COO offers the most value. All businesses have limited time, monetary, human and other resources. Applying this capital efficiently can be the difference between success and failure. For a growing business, greater efficiency can significantly accelerate expansion.
Here are a few key indicators a fractional COO could be the right choice for you:
- Your business has grown rapidly and now your processes and systems are preventing further growth or are cost-prohibitive.
- You have areas in multiple disciplines (Marketing, Sales, IT, Customer Service, etc.) that need help aligning on organizational goals end executing those goals effectively.
- You have a critical, time-sensitive project that needs to be completed. Your existing staff may not have the expertise or capacity to effectively handle this project.
- Your organization is at a strategic crossroads and you need an unbiased, experienced strategic partner to assist identifying a path, creating a viable road map, and then assisting in the execution.
Bringing on a fractional COO is a cost-effective way to elevate your organization and eliminate hectic processes, conflict, frustrated employees, damage control and unclear direction.