A Fractional COO provides expertise to small businesses on an outsourced, part-time, or project basis.
Typically, the leader of a company is a visionary. As the visionary, you operate best when you are thinking long-term, generating big ideas, fanning a fabulous culture and cultivating strategic relationships. Without a COO, you become mired in the day-to-day operations, which can cause your business to stagnate.
What is a Chief Operating Officer?
The Chief Operating Officer (COO) is a senior executive tasked with overseeing the day-to-day administrative and operational functions of a business.
COOs often design operations strategies, communicate policies to employees, and help human resources (HR) build out core teams.
Reviews metrics and revenue cycle performance and recommends and implements strategies for improvement and growth.
COO is responsible for executing the vision of the Business Owner or CEO. If the CEO is the creator, the COO is the executor.
Signs that You need a Chief Operating Officer
You are spending too much time working in your business and not on your business.
You are feeling constantly overwhelmed and struggling daily in your company.
You know you need to strengthen and solidify your leadership team.
Your company needs to grow significantly in scale operations.
Why Have a Fractional COO
Budget Friendly- You get veteran experience without the full-time expense.
The business owner can focus on long-term vision while the COO can focus on executing.
A fractional COO works remotely with your company. This saves you from creating a separate executive office.
Fractional COOs do not require an elaborate executive hiring process — thus, you do not have to build separate HR processes for just one position.
Being a contract employee, the fractional COO does not require executive benefits, bonuses or perks.
A fractional COO creates a try-it-before-you-buy-it experience, allowing you to kick the tires and determine what you need from a full-time COO.
If the fractional COO does not work out, let them go — firing an executive can be a grueling situation fraught with cost and legal dangers, but having a contract employee is relatively easy.
