This is an intereting article in Entreprenuer.com by Katie Murphy, a new Conway Center member and founder of Expansion Group. Fractional executives might be a good solution for family businesses that do not have a clear succession plan...yet.
If you have a complex strategic initiative with an end date like the one I oversaw, this is the perfect fit for a fractional executive. Here are some situations when fractional executives might come in handy:
- You’ve outgrown your operating model and need to level up.
- You have a great operations manager, but he or she may be missing the strategic skills of a COO — the same goes for finance and marketing.
- You’re looking to delegate financial, operational or marketing duties you have managed to date, but it doesn’t require a full-time role.
- To fill a vacancy while you search for the best long-term fit.
To read the entire article, click here.