A fractional COO is a business professional with many years of experience who is willing to work on a temporary, part-time basis for an hourly rate that would normally be equivalent to hiring someone full time. A fractional COO is essentially an outsourced professional who serves as your chief operating officer. They can arrive once a week, once a month, or as often as you need them for strategic planning, process improvement, and other operations-related projects. Some companies may need a fractional COO 3 to 4 days a week, while others only need one, 2, or 3 days a month.
By definition, a fractional COO is nothing more than a part-time director of operations, so the frequency is entirely up to you. A fractional COO takes care of all operational matters to lighten your burden and help you focus on achieving your long-term business objectives. Fractional COOs offer these services at a fraction of the cost of a full-time COO, making them an attractive successful tool for small and medium-sized businesses and organizations that are just starting out and don't yet have the budget for a full-time COO. A fractional COO is simply a leadership executive who acts as a part-time director of operations.
Instead of hiring a new full-time chief operating officer from the start, you can hire an interim chief operating officer and see how well he integrates and fits with the culture and trajectory of your company. Other times, you may need a fractional operations manager for a specific purpose and project, to provide a set of skills that your company doesn't currently have. If you're a small business or agency owner and you're thinking of hiring an operations manager, you're obviously interested in the fractional cost of operations director services. A fractional COO can bring benefits to almost any type of company that isn't large enough to support a full-time director of operations.
This is because many business owners have come to understand the significant benefits of a high-level executive and that a fractional COO is an affordable solution. Companies that are looking to grow sustainably, but that don't yet have the budget for a full-time chief operating officer, will benefit from adding a fractional chief operating officer to the team. It offers fractional COO services and offers a FREE Revenue Engine performance check to help you find out. Your fractional operations director may come one day a month to work on your strategic planning with your leadership team.
Having a fractional COO helps you in the daily operations of managing your company, allowing you to take a step back and focus on long-term strategies and gives you space to view the overall picture of the growth and direction of your company. Perhaps the most appreciated aspect of a fractional COO is that you can add additional talent to your team in a simple and cost-effective way. In the case of agencies, a fractional COO can help smaller agencies get the strategic operations leadership they need and delay the costly hiring of executives until they reach a larger scale. A fractional COO can also help you evaluate areas where your organization is weak or processes that show room for improvement, provide unbiased feedback, and help you begin implementing the operational changes needed to improve.