💼 Fractional Executives: Leadership-as-a-Service

💎 Why It Matters

You can work with experienced executives on an as-needed basis.

🔍 Problem

You need expert help. But can't justify the cost of hiring for a full-time role.

💡 Solution

Find a fractional executive and only pay for what you need.

🏁 Players

Fractional Executives

Maciej Cupial (Trends Pro Member) - Fractional CTO at Podcast Hawk which is run by Stewart Townsend (also a member).
Kevin Whelan (Trends Pro Member) - Fractional CMO who teaches about how to become an advisor.
Jeffrey Fidelman - Fractional CFO specializing in fundraising.
Neil Portus - Fractional CFO for growth companies.
Michael Truog - Fractional CTO with decades of experience at every level.
Tomislav Capan - Fractional CTO who specializes in cloud architecture.
Alex Kurkin and Andrii Gikalo - Runs a fractional CTO agency.

Hiring Platforms

byDesign - On-demand marketing subscription-based platform.
Shiny - Fractional talent marketplace.
Business Talent Group - Hire fractional executives.
Passionfruit - Hire a world-class fractional CMO.
Continuum - On-demand executive talent.
The Free Agent - Fractional strategic leadership recruitment firm.
Fractional Executive Solutions - Fractional executive agency.

🔮 Predictions

Fractional executives will launch agencies to scale and focus on high-leverage activities.
- Trevor Longino spent a decade as a fractional CMO before starting his own marketing agency.
- Anna Sullivan is a fractional CMO who started her own social media agency called The Creative Exchange.
- Andrew Deutsch transitioned his fractional CMO service into an agency called Fangled Tech.
- Daryl Dobrenz is a fractional accountant who is now the CEO of Kranz Consulting.
- Marissa Goldberg is a fractional Head of Remote who started Remote Work Prep.
Fractional executives will offer white-label solutions for common needs.
- Nick and Char offer white-label subscription and referral solutions for e-commerce businesses as fractional CTOs.
- Mark Preston is a fractional CMO who founded Stopgap SEO to offer a standard solution for link building and technical audits.
Startups and small businesses will hire fractional General Counsels. Lawyers are an expensive but necessary business tool.
- 1010 tires CEO Sophia Volpov hired a fractional General Counsel with e-commerce experience.
- ParticipACTION saved money on traditional legal fees by paying a fractional General Counsel an hourly rate without a retainer.
- Northbridge Financial was unsure about the volume of work needed and hired Steve Pasternak as fractional General Counsel on a tight deadline.

☁️ Opportunities

Reduce time to hire. Fractional executives can be hired quickly and save months of recruiting time.
- MVP Health Care Inc. pivoted to telemedicine. They needed to go to market without waiting to find the "right" CMO candidate. Arlyn Davich joined as fractional CMO to develop their marketing strategy immediately.
- The CTO of A.T. Cross quit unexpectedly. They hired a fractional CTO to solve critical systems issues and improve projects left in disarray.
- Joyce Ripianzi, CPA is a fractional CFO who joined a nonprofit in urgent need of a CFO. They realized they didn't need a full-time CFO in the first place.
Become a fractional executive to improve your lifestyle with flexible employment.
- Beejeel Parmar became a fractional COO so that he could gain the independence to travel and homeschool his children.
- Nicholas Zeisler uses the flexibility of being a fractional Chief Customer Officer to spend time in the Colorado mountains and ski at his leisure.
- Mark Evans became a fractional CMO and was able to focus more on his writing and storytelling.
- Amanda Rabideau became a fractional CMO to gain autonomy over her clients and schedule.
Set specific KPIs for your fractional executive to focus on.
- Kinley Corp hired Robert Mohr as fractional CFO and reduced the time it took to complete month-end accounting by 50%.
- Jason Fehr from Timber Ridge Homes hired a fractional CMO who generated $24mm in quotable business and 158 trackable leads in 6 months.
- ConnectWise hired Angus Robertson as fractional CMO and increased their pipeline by 118% to $5.7 million.
Hire a fractional executive to automate workflows to save time and money.
- Lawline hired a fractional CFO to build an automated forecasting and budgeting tool for the leadership team.
- Shaun Ericson of Cireson hired Kristy Facchini as fractional CFO to implement automated cash flow processes and NetSuite for ASC606 compliance.
- Srikanth Vadrevu is a fractional CMO who specializes in automating SaaS marketing processes.

🏔️ Risks

Short-Term Mindset - Make sure that your fractional executive optimizes for long-term success. Short-term incentives harm long-term success.
Bad Fit - The executive you hire might not be right for you or your business. You may need to try multiple executives before finding the ideal team member.
Team Buy-In - Your team needs to understand and accept the value of a fractional executive.

🔑 Key Lessons

Learn from them. Fractional executives should be knowledgeable executives who have been in your shoes before. Solicit advice and input.
Hire specialists. One advantage of working with fractional executives is that you can hire a wider breadth of team members.
Integrate your fractional executive with the rest of the team. An executive will have a stronger impact if they have visibility into how the team operates.

🔥 Hot Takes

Fractional executives will accelerate the overemployment trend. Executives will overwork themselves to maximize income.
Fractional executives will create niche job titles. In-demand workers will be incentivized to commoditize and sell their best skill to as many businesses as possible.
Fractional executives will avoid office politics. They will be more focused on getting the job done with limited time.

😠 Haters

"How is a fractional executive better than hiring an agency?"\
Fractional executives take on more responsibility than an agency. They take full ownership and act as a point person for areas of your business like budget-setting, hiring, firing, and building processes. They should be held more accountable than an agency.

"Fractional executives don't have the same impact as a full-time employee."\
It's true that they cannot make the same time commitment. In many cases, fractional executives will have a greater impact on a per-hour basis.

"Fractional executives **won't understand **my company as well as I do."\
They aren't supposed to. Fractional executives have specific skills which can be used in a variety of businesses. You and your full-time team members know your product inside and out. Specialists should be used to leverage that knowledge.

"Isn't this the same as hiring an interimexecutive*?"*\
No. Interim executives are hired on a full-time but temporary basis to effect immediate change until permanent leadership is found. Fractional executives are part-time leaders who should be working toward the long-term success of your business.

🔗 Links

Examples of Fractional Executives - The tweet behind this report.
How a Fractional Chief Operating Officer Can Help Your Business Grow Sustainably - A guide to hiring and correctly utilizing a fractional COO.
What Makes Fractional CIO Engagements in SMEs Successful? -- A Research Framework - Academic research on analyzing the success of a fractional CIO.

📁 Related Reports

Remote Work - Remote work is accelerating the fractional executive trend.
Consulting - A fractional executive is similar to but less engaged than a consultant.
Agencies - Many fractional executives transition to running agencies.
Productized Services - A fractional executive is an example of a productized service.
Personal Brands - Succeeding as a fractional executive requires the cultivation of a strong personal brand.

🙏 Thanks

Thanks to Tem, Stewart Townsend, Wit S., Swapnil Puranik, Yarty, Vikrant Duggal, Ron Immink, Maciej Cupial, and David Steinley.We had a great time jamming on this report.\
✏️ Harry researched and wrote this report. Dru researched and edited this report.

📈 What else?

Trends PRO #0099 --- Fractional Executives has more insights.

What you'll get:

30 Fractional Executives and Hiring Platforms (114% More)
10 Predictions (233% More)
15 Opportunities (275% More)
6 Risks (100% More)
4 Key Lessons (133% More)
6 Hot Takes (100% More)
11 Links (333% More)

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