Hiring a fractional COO is a great way for businesses to get the operational and strategic leadership they need without having to commit to a full-time executive. A fractional COO is an experienced executive who provides strategic and operational guidance on a part-time or temporary basis, allowing businesses to benefit from their expertise without the full-time cost. But how can businesses ensure their fractional COO can handle unexpected changes in the business environment?The key is finding an experienced executive who has the skillset necessary to quickly adapt to changing conditions. They should be able to think strategically while also being able to execute plans efficiently.
It's also important for them to have experience working with teams across different departments so they can identify areas of improvement and develop solutions quickly. When hiring a fractional COO it's important to look for someone who has experience in your industry or one similar so they understand your business model and goals. It's also important for them to have strong communication skills so they can effectively collaborate with other members of your team. Finally, it's important for them to be able to think outside the box so they can come up with creative solutions when faced with unexpected changes. A fractional COO is a director of operations that a business owner can hire as needed, either a few hours a week or every day for several weeks out of every quarter. They ensure that there is a solid organizational structure and systems in place to consistently achieve financial and strategic objectives with greater productivity, efficiency and profitability.
After spending time with you and understanding your vision and intentions, they will make sure that you have the right people in the right places, that they are on the same page, and that they execute their initiatives in the best possible way. The scope of responsibilities of a fractional COO will vary depending on the company's needs, but generally they focus on strategic planning, process improvement, project management, and team development. In many cases, a fractional COO will also handle some of the company's daily operations, allowing the CEO to focus on higher-level tasks. Often, a fractional operations manager is hired to fully review operations. A CEO can find an expert in turning companies around and giving his chief operating officer the flexibility to execute. When you hire a fractional chief operating officer, you get a partner, coach, and mentor that you can turn to part-time, full time, or anywhere in between—at a fraction of the cost of traditional operations leadership. Product-based companies that need to deliver products to customers will benefit from a fractional COO that can ensure that logistics, systems, and customer experience work as they should.
The fractional operations manager often works with teams across the company to identify ways to identify inefficiency, eliminate waste, and implement solutions that streamline business operations. They will spend time with managers and other senior executives in as many places as possible, if appropriate. The small “mosquitoes” that consume you can be managed by the fractional COO so that you can focus on what you do best: growing your business. As small entrepreneurial businesses continue to look for ways to do more with less, fractional COO services are likely to become an increasingly popular option. In general, a good fractional operations manager should be able to see the big picture but summarize it into practical steps and executable strategies. Fractional operations managers have the experience and skills needed to help companies succeed in today's competitive landscape.