04 Jul 5 Key Contributions of a Fractional COO

CEOs: When you get to the end of your day, how do you generally feel?

• Like you accomplished everything you wanted to and have a sense of confidence about your company’s performance?
• Or, like there is never enough time (including “thinking time”) to achieve all of your goals?
• Maybe it’s somewhere in the middle?

One thing is for sure: In today’s fast-paced business environment, the role of a CEO is more demanding than ever. Even if you feel positive about the activities of the day, another chock-full schedule awaits. 

Here’s where a fractional COO can be an indispensable ally to CEOs. The following five elements are what I’ve found to be most beneficial to the CEOs I’ve worked with in the past.

5 Ways Fractional COOs Can Drive Success

1) Operational expertise is paramount in running a business efficiently. A fractional COO possesses the know-how to streamline operations, ensuring the company’s engine runs smoothly. This specialist knowledge in operations, when combined with a CEO’s vision, can propel a business to new heights.

2) Cost-effectiveness is another significant advantage. Hiring a full-time COO can be exorbitant, especially for small and medium enterprises. Opting for fractional COO allows companies to leverage the expertise without the financial burden of a full-time executive salary and benefits. This way, businesses can allocate resources more judiciously.

3) Flexibility is a notable asset of hiring a fractional COO. The business world is ever-evolving, and having an agile approach is indispensable. A fractional COO can be brought on board for specific projects or to address certain operational challenges, giving the CEO the flexibility to scale the role as needed.

4) Strategic planning is crucial for any business to thrive. A fractional COO can bring a fresh perspective to the table. They can work closely with the CEO in setting both short-term and long-term goals, devising strategies to achieve them. Their experience can offer invaluable insights, which can be particularly beneficial for businesses in their nascent stages.

5) Lastly, change management is an often overlooked, but vital aspect. A fractional COO can guide a company through transitions such as mergers, acquisitions, or market shifts. Their expertise can help mitigate risks and ensure a smoother adaptation to change.

Do You Have All 5 in Place?

With all of the above in place, a fractional COO can be a catalyst for growth and success by unburdening the CEO and leading the company to flourish. If you’re lacking any (or all) of these components, I’d love to have a conversation with you to see how we might fix that. 

You can contact me here via my website or email me directly at michael@consultstraza.com.

Now, back to the original question: Which of the three scenarios above resonates with you the most and why?