Fractional COOs Expedite Growth for Small Companies
If any company wants to grow and experience sustained success they must have dedicated resources and appropriate leadership for operations, more specifically someone who will ensure the organization is operating efficiently and profitably, and that operations are optimized to scale as needed. Furthermore, a dedicated operations officer can cultivate culture and operationalize strategies making change and growth possible.
But, when you’re an owner of an existing small company, or an entrepreneur in the startup phase, resources are often limited and hiring a full time COO is not an option. Typically, a small business owner, often a CEO, will take on every executive leadership role including operations - which can work for a time. However, ultimately they become overwhelmed and stretched thin trying to focus on everything from strategy and business development to day-to-day operations, leadership, and team building.
This is where fractional COOs can provide value. A fractional executive is someone with experience and expertise that can provide leadership, project management, and consulting services to companies (business owners) who otherwise do not need or cannot afford a full time executive. Services can be contract or project based, or they may be a part-time or interim position that fulfills the companies temporary needs.
Fractional COOs are experienced operational leaders who can expedite your small company’s ability to start, improve, or grow. From holistic unbiased analysis to planning, alignment, and execution, fractional COOs can fill the gaps resulting from either a lack of time or lack of experience needed to focus on optimizing operations. If you’re an entrepreneur with a passion for your product or service, yet seem to struggle with creating lean and scalable operations that enable increased profits and revenue, you may want to consider a fractional COO.
Whether you’re a startup or existing small business you will have to grow to succeed. A good COO will make that possible by helping an owner or CEO develop an organizational structure and processes that are scalable while cultivating a culture that has a high capacity for change (growth). Fractional COOs can do this too and the business does not have to take on a full time executive salary before it is ready to do so.
Hiring a fractional COO will save you money, but more importantly, the work they do will help you build an organizational and cultural foundation that will support your companies ability to change and grow - imperatives for realizing both short and long-term success. Putting the right systems, people, and technology in place to optimize operations is mandatory for companies who expect to survive and thrive beyond startup phases.
Companies cannot afford to neglect the key role filled by a COO, ensuring that operations run smoothly and efficiently, as this can be the difference between success and failure. For a small and growing business, greater efficiency can significantly accelerate expansion and revenue growth - this is where a fractional COO offers the most value.