Many organizations 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 is a fractional COO.
What is a fractional COO?
A fractional COO is a key operations-focused business partner 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 companies.
What are the benefits of a fractional COO?
Bringing in an experienced senior operations leader that has expertise across a wide variety of disciplines to your organization can provide many benefits. Here are a few examples of how this position can help your organization:
- The organization has grown rapidly and now your legacy processes and systems are preventing further growth or are cost-prohibitive.
- Your operations group is not producing as expected and you need an in-depth overview of their current situation and areas of opportunity.
- 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.
- You have areas in multiple disciplines (IT, Marketing, Analytics, Training, Operations, etc.) that need help aligning on organizational goals and executing these 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 or it may divert their attention from other critical projects.
This is a short list of the many benefits a fractional COO can bring to your organization. It is a very cost-effective way to elevate your organization. You can typically engage this position from 4 to 40 hours per week and it can last from several months or longer, depending on your specific situation and needs. It’s an excellent short-term solution for many companies.