What Is A COO and Why Do You Need One?
The Chief Operating Officer (COO) is a senior leadership position that is accountable for the daily operations of an organization, as well as the development and implementation of strategy and initiatives. Many growing businesses have reached the stage where this additional executive leadership is required but the economics are challenging. A Fractional COO can bridge the gap and provide the resource you need to continue growing your business without committing to a full-time employee.
What is a Fractional COO?
A fractional COO is simply a leadership executive that acts as Chief Operating Officer on a part-time basis. The responsibilities and onsite frequency can vary widely and are typically customized to the needs of the business. Your fractional COO may come in one day per month to work on your strategic planning with your leadership team or he may be there twice per week overseeing sales activities, process improvement and various projects. As the business owner, this is all up to you.
Benefits of a Fractional COO:
First and foremost, you’re adding experience to your team. This, combined with an outside perspective can do wonders to help you develop or refine your business strategy. In addition, a fractional COO gives you flexibility in that you don’t have to worry about the complexity of adding a full-time employee that you may not be ready for yet. You merely bring him in as necessary. Perhaps the most appreciated aspect of a fractional COO is that you get to add additional talent to your team in a simple and cost-effective manner. You only pay for what you need.
What Types of Businesses Can Benefit From a Fractional COO:
A fractional COO can bring benefits to just about any type of business that is not large enough to be able to support a full-time Chief Operating Officer. Growing companies need to develop new processes and refine old ones in order to keep pace. Startups have to create strategies from scratch and then build the operations to support the business plan.
Stagnant or declining businesses need to take a fresh look at their business model and implement changes to stay viable and relevant. The opportunities to improve your business are endless, no matter what stage you happen to be in.
I provide an affordable solution to small business owners that are not yet ready to invest in a full-time Chief Operating Officer.
Fractional COO Services
There are multiple standard options available to serve your needs, starting at less than $2,000 per month. Or, we can work together to create a customized solution that provides you with precisely the resources and support that is best suited to your organization.
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Operational Assessment • Strategic Planning • Financial Management • Process Improvement • Supply Chain Management • Sales & Marketing Strategy • Organizational Development • Technology Solutions • Change Management • Exit Strategy