A traditional COO is a full-time employee who devotes all of their energy and resources to a single company. On the other hand, a fractional COO is an independent or part-time operations manager who dedicates a portion of their attention to the company. They provide the same services and skills as the full-time director of operations without the budget or full-time commitment. A fractional COO is essentially an operations consultant with the same responsibilities as a traditional operations manager.
They are capable of completing each and every task that a traditional operations manager would be responsible for, such as overseeing the company's daily operations, devising, implementing and tracking a company's planning, and executing the short- and long-term administrative tasks necessary for any business to run smoothly. Business consulting firms such as Great Lakes Advisory also offer fractional COO services that fit your needs. A fractional COO can bridge the gap between your current situation and what you would like to see in the future. They can save you from spending countless hours of work searching for the right candidate, while freeing up your time so that you, the business owner, can focus on what you do best.
A fractional COO helps you steer your company in the direction you want and, at the same time, costs you less than a traditional senior employee. Because you're billed as a contractor, the fractional COO will provide significant savings to your company compared to the cost of hiring a full-time operations manager. A good fractional operations manager plays a key role in all aspects of planning and executing the strategies that will move your business forward. In summary, a fractional COO is an experienced operations consultant who works part-time or on a contract basis to help companies achieve their goals. They offer the same services and skills as a full-time director of operations without the budget or full-time commitment.
A fractional COO can bridge the gap between your current situation and what you would like to see in the future, while freeing up your time so that you can focus on what you do best.