What’s the best way to leverage my time and grow my business? Should I hire employees, subcontractors, or third -party partners…?
Expertise on Demand
In the last few years there has been a trend toward services that are “fractional” in nature. These services have become an increasingly popular solution for small but growing businesses looking to maximize their resources while minimizing expenses. There are vCIO (virtual Chief Information Officer) services, fractional CFO (Chief Financial Officer) services, fractional CMO (Chief Marketing Officer) services, and more.
These services are provided by companies that serve their clients as independent contractors. They bring to the table the expertise and experience of senior employees, but on a part-time basis. The services are provided to companies that don’t have the budget to pay for senior executives on a full-time basis, but that require executive-level input and guidance to grow and thrive. Since the service is provided on only a part-time basis, it is very cost-effective.
Other attractive features about this option for supporting and driving growth in a business include:
The service is usually provided on-line via video conferencing, which is efficient and effective. Travel time isn’t required, sharing complex information screen-to-screen is easy, and several people can join meetings from anywhere, so long as they have Internet access.
Fractional businesses often include a team of people, usually led by at least one expert. The team can manage several and/or complex tasks more efficiently and effectively than a single full-time executive could.
Fractional businesses work with various clients on an o-going basis, and are therefore able to bring best practices to the table, stay on top of trends, and provide outside information more readily than an executive exclusive to the business could.
Fractional businesses can collaborate with each other on behalf of a shared client. This can lead to synergistic solutions regarding navigating healthy growth for a small to mid-size business. Experience and expertise from different areas are brought together to work on improving the business. That can be rewarding for not only the business, but for everyone who is involved in looking at the business and figuring out how to make it better. When it comes to follow-through and execution, the same kind of collaboration can facilitate that too.
Exploring Fractional Services
A business owner or leader looking to grow a business can easily explore the option of working with fractional businesses. For example, if you’re interested in exploring how a fractional CFO can work with you and your business to help you achieve your vision of success, reach out to Mastery Fractional CFO Services. We'll book a free initial consultation with you. We'll ask you about your business, get an idea of where you’re at, where you want to be, and your plans to get there. We’ll tell you about who we are and what we do, and you can ask us questions. If we decide there may be a fit, we can discuss what the next steps should be.
You can do that with the diverse range of fractional businesses that are out there. We encourage you to give it a shot. It can help your business!